Friday, 14 December 2018

The Ultimate Marketing Stack for Your Startup – Entrepreneur

The Ultimate Marketing Stack for Your Startup – Entrepreneur
03 Dec
1:44

A perfect marketing stack optimizes the marketing process and puts the right message in front of the customers

December 3, 2018 4 min read

Opinions expressed by Entrepreneur contributors are their own.

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One of the most frequent conversations we hear about startups today is their marketing and sales efforts. The efforts are now more responsible for creating engagements and interaction with their target audience. There are new tools and channels that are helping marketers or startups in evaluating their potential and understanding the new marketing technologies to leverage their efforts.

The marketing industry is evolving rapidly; adding new tools and technologies in building a startup’s marketing strategy.  Startups are focusing on creating a marketing stack perfect for their growth. A marketing stack is a collection of relevant tools to boost marketing efforts. Even if you’re using one marketing tool in the marketing process, that is also known as marketing stack.

There are many ways to visualize marketing stack depending upon the purpose and their functions. A perfect marketing stack optimizes the marketing process and puts the right message in front of the customers. Let’s begin!

Acquisition

Acquisition tools are one of the most important and useful tools in marketing stack. They contribute immensely to long-term sustainable growth. The best thing about them is that they do not create a one-shot boost. However, you can boost the growth multiple times to build a strong foundation of the startup.

There are different acquisition tools that are available but do not really result in any outstanding growth hack. For instance, SEO isn’t a tool that acquires users immediately but it sets a long-term base for sustainable growth. Investing in SEO helps in expanding the reach and getting more users.

Similarly, there are tools that provide highly accurate and qualified sales data. Companies that use these tools find an increase in the rate of lead conversion.

Activation

The acquisition helps in making the user interested in your service or product but making them sign up for the deal is not an easy task. There comes the Activation part. It is one of the most interesting tools in marketing stack that helps in pushing customers through the marketing funnel.

It helps in nurturing the targeted leads. There are several tools to activation that have proved to be beneficial in increasing the results. Webinars, analytical tools and creating landing page are very useful when it comes to nurturing and activating the leads.

Retention

Once the user has moved forward from acquisition to activation, the marketing strategy focuses on Retention. If acquiring a customer is hard then retaining them is even harder. In this, a startup needs to keep figuring out the ways that can bring their customers back.

To retain the customers, there are analytical tools that help in seeing the action of the customers as well as their engagement rate and where they are coming from. In addition, there are several survey tools that are used at this stage to run customer satisfaction surveys. You can find out your unhappy customers and personally reach out to them to improve your service or product.

Referrals

Referrals are the most powerful tools of marketing funnel because of the influence through Word of Mouth. It plays the best performance in generating ROI whether through existing customer base or the new one. Getting into the referral stage means the customers liked your product and they can ask their contacts to take benefit out of it.

There are several referrals and affiliate marketing tools available in the marketing. Due to their expensive pricing, they handle everything that comes under referrals right from payments to affiliate tracking.

Revenue

Revenue is for what startup entrepreneurs work and keep the business alive. However, keeping track of revenue is a crucial part. It is important for any business to keep a track on their revenue metrics to keep the business going.

While running a business that has acquired and retained customers will absolutely need a revenue metrics tracker. These metrics dive into customers profile and share the analytical report with you. These metric tools help in scaling the business automatically.

Some metric tools help in providing accurate analytics that a startup can use to fuel their business growth.  

Source: https://www.entrepreneur.com/article/324196

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