How Important Is Marketing to Your Startup?

Victoria Faal

Victoria Faal

Victoria is a BSc International Business student at Saxion University of Applied Sciences and 2021-2022 Brand Director at DSIF. She is responsible for online/offline marketing and is one of the decision-makers when it comes to investing.

One of the most typical mistakes made by startups in their early phases is underestimating the importance of marketing. While the basics of a startup are critical (financing, shipping and delivery, staffing, and so on), branding and advertising are equally important for a company's internal cohesion, customer reach, and overall success. In this blog we tell you why marketing is so important for your startup.

It Promotes Your Business

Good marketing supports you in putting your products and services at the forefront of every customer’s mind. Marketing leads to the growth of your startup and makes you the first choice when you require a specific product. Take Apple for instance. If someone needs a new smartphone, an Apple product is almost certainly one of, if not the top, options on their list. Apple stated in 2020 that the total number of active Apple devices has reached over 1 billion. So, guess what? Their marketing initiatives were important in achieving this goal and transforming the business into the major player it is today.

It Increases Sales

Your chances of selling your product, service, or brand to your customers improve dramatically once you’ve gained their attention. Furthermore, once you’ve established a presence with your target audience, your company will become a household name, and word about the quality of your products and services will spread. This sale would not have been possible without marketing.

Customer Acquisition and Retention

The ability to acquire and retain customers determines whether a company will succeed or fail. To prevent shrinking, a company with $1.000.000 in revenue and a 10% churn rate must bring in $100.000 in new business each year. Once your startup has established a solid foundation and a name for itself, marketing will help you retain your customers and build a loyal following – a key factor in avoiding losing ground to new and trendy products in the market.

It Enhances Your Image

The success of your startup is heavily reliant on a strong and trustworthy reputation. Brand awareness will grow because of your marketing, and as your reputation grows, so will your business and sales. Strong and smart communication, as well as the quality of what you offer your audience, will be the foundations of your ever-growing reputation, and marketing will play a key role in this.

Better Time Management

Your company’s sales will increase, and your target audience will be reached much faster if you market your product or service. Effective marketing allows you to be discovered and engage with your audience while also allowing you to focus on the other tasks that are critical to your startup’s success.

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