What does it take to build a successful start-up business?
Most business gurus say you need to have passion and drive. Wake up at 5 am and work harder than everyone else; create real relationships with your audience! Show up and do the work every day.
Motivational? Sure.
Helpful? Not so much.
What do all these bits of advice have in common?
They don't actually tell you how to build a successful business.
The truth is, you really only need one thing to build a successful business—customers.
Kevin and Jack discuss the challenges they faced when VYPER was still in its early phase of development.
Tune in to the podcast above to find out more.
Without customers, you are just wasting your time.
The issue is, you're not the only business in town. In fact, with more than 342 million websites in the world, you are probably one of a dozen companies offering the same or very similar products or services.
Standing out as a startup is hard — but it isn't impossible.
Acquiring customers and leads require boots-on-the-ground work to build a brand and draw in customers.
So, how do you do it? Here are seven customer acquisition strategies to take your start-up from just another name online to a thriving business with a healthy bottom line.
Book Podcast Interviews
Podcasts are a big deal right now. In fact, more than half of the US population has listened to a podcast.
Word of mouth is still one of the most crucial customer acquisition strategies out there. According to GetVOIP’s customer service statistics, over 72% of customers are willing to share a positive experience they had with a brand with 6 or more people!
Think about the last time you purchased a new product. If it was a car, you likely asked your car friends what they thought, right? If you needed a bouncer for your baby, you asked your mom friends.
Why? Because we are far more likely to trust people who aren't trying to sell us anything.
Referral programs are like word of mouth marketing on steroids. They turn each satisfied customer into a brand ambassador who is willing to share your product with their friends.
Take Rothy's, a company that offers cute flats and sneakers that are washable and made from recycled plastic bottles. It is a pretty niche market, but they managed to go mainstream with the "refer-a-friend" program.
It is pretty simple: the customer shares a unique link that gives their friend $20 off their first pair of Rothy's and gives the referer $20 towards their next pair of Rothy's.
It's a win-win scenario that inspired dozens of reviews, like this one, from fashion bloggers, business brands, and even environmental brands.
For the less coding savvy, there are plenty of referral marketing tools that make creating your own program pretty painless. You can use a simple widget or a full-featured platform to build your very own referral program.
Dig Into Paid Marketing
Most of the strategies above rely on your start-up having access to more time than money. That is the reality for most start-ups, after all.
But there is a good chance you do have at least a modest marketing budget.
If that is the case, you absolutely considering including paid campaigns in your marketing strategy.
But, which ones?
From PPC to social media to podcast ads, there is an overwhelming number of ways to waste your money on paid ads.
You want results, right?
Retargeting is the way to go. As the name suggests, retargeting targets people who have already interacted with your brand in some way.
Maybe they liked your Facebook page, followed you on Twitter, or visited your website.
Using retargeting, you can show them ads for the exact item (or service) they were looking at.
It might seem a bit creepy, but here's the thing— retargeting is incredibly effective at driving conversions.
In fact, site visitors who are retargeted with display ads are 70% more likely to convert.
Plus, retargeting conversions actually increase over time, so these types of ads are kind of like the gift that keeps on giving.
And there are multiple ways to retarget: through email marketing best practices, social, and display ads, of course. So, no matter where your audience is, you can reap the benefits of retargeting.
Looking for free training on how to scale brands with paid ads on Facebook and Instagram? Check out this webinar.
Final Thoughts
Growing your start-up does require drive, passion, and a willingness to get up at 5 am to get the work done. But it also requires tried-and-true marketing strategies and team collaboration tools that work for all types of businesses.
There is an infinite number of ways to market a business, but the ones above are the most effective ways to attract customers and get the cash flow moving. Which one will you try first?
What strategies have you used to acquire customers for your start-up? What have you found to be the most-or least-effective strategies?
Guest: Ben Johnson is the Head of Content at Proof, a Y Combinator-backed startup that provides real-time social proof and personalization software. Over 18,000 sites trust Proof to help increase their conversion rates.