You’ve got the investment.
You’ve had the initial exposure.
Awareness of your product has been created.
And people are talking about you…
According to Forbes, 9 out of 10 startups fail. One of the main reasons for failure is being unable to grow quickly enough. Fast growth provides greater opportunities for funding, cash-flow and positioning ahead of competition.
It’s crucial for startups to create a growth strategy, beyond the hype and PR coverage that is often created just prior to launch. The key is to focus on long-term market engagement. We recognise it’s not always possible, due to limitations on resources and the urgency of getting the product to market, but a longer-term plan is essential for sustainable success and its importance should never be overlooked.
We see it all the time… startup founders and CEOs are frequently absorbed in the operational aspects of starting a business, such as product development, growing their teams or seeking their next round of investment. And of course, these are all essential for startup survival. But this doesn’t leave much energy for creating a robust launch strategy that will set the foundations for long-term success.
There’s a lot to think about. So we’ve put together our top tips for startups hoping to gain significant market penetration and growth. Whether you’re currently planning your launch, or already in launch-mode and hoping to gain further traction, this is your essential guide for getting your business off to the best possible start:
We say….build your strategy and proposition appropriate to the market, exploit the hype, move fast and focus on growth and retention. You can’t go far wrong if you embed the above in your launch strategy, but if you need support to do this effectively, we can help you.
Tidal provided us with a clearly defined strategy for our new service that has guided the market launch and continues to be used across the business. They helped us define our tone of voice and key messaging for different stages of the buyer journey, which we are now using to help shape our marketing communications going forward.
Laura Warren, Digital Marketing Manager, MyLondonHome