“Save your extra Fils for a rainy day”, is probably one of the most cliche proverbs that have been bestowed upon the Millennial generation by their predecessors, and for a good reason too!
From reports blaming Millennials, Generation Z and young entrepreneurs for choosing to eat avocado toast instead of investing in their futures, and others pointing the finger at them for causing the diamond industry to have a “crisis” (Why can’t Millennials afford diamonds? Well, maybe because they cost an arm and a leg?)
As a generation of young and upcoming entrepreneurs rushes to the marketplace, the offerings for this generation are vastly different, in ways they’re easier, in others, they’re much more complex. Even though there are now more opportunities out there to operate a business, the threats of big corporates and other competitors still persist.
It’s hectic enough operating a startup, and now you have to worry about promoting and marketing it and its products and services? Who’s picking up the paycheck for that? Well, let’s show you how the scales can be tilted to your own benefit!
Method 1: Word of Mouth
There’s a certain magic to the concept of Word of Mouth (WoM), as it can make or break a business. And, more than on any place on earth (our words, no study needed!) WoM spreads like wildfire in the Kingdom, it determines whether a startup or a business will be the talk of the town, simply a fad or a glorified success.
The saying “you’re nobody until you’re talked about” applies here, and its a cost-efficient and highly effective method to build the reputation of a business and solidify its position in the market. And while you can’t control what people might say, but, you can try giving them a good business experience to talk about, and the more you go above and beyond to please your customers, the more likely they rave about the range of products or services you provide!
Method 2: Content Strategy, Cross Promotion, and Personal Branding
This is more or less the step that requires the most technical skills rather than mainly soft skills, and prior to embarking on this phase, it is preferred that you are able to identify who the target audience for your business are, and, what they expect from you.
While a large majority of startups have directed efforts towards making a promotion strategy that can potentially go viral on the internet and spread, shift your focus to not opt out of the more “tiresome” and “traditional” methods of promoting your business on different platforms while remaining “on-brand”. Take advantage of the rise in entrepreneurs branding themselves, in which they promote themselves as well as build trust amongst their followers as people are perceived as more trustworthy than corporations.
Managing the online presence of your startup as well as yourself on the internet attracts interest from a variety of people, whether, through a website, a blog, social media or a combination of all 3, it helps create an image people can refer back to when considering your business.
Method 3: Networking, Networking, Networking!
Who do you know? Not to be confused with Word of Mouth, as this method is less focused on consumers than it is on the ecosystem’s main players. Creating a substantial network of business contacts is one of the many essential drivers for the success of your startup.
You’re not going to walk into a random house and claim it to be your home, would you? The same applies here, get to know your peers, learn from their experiences, integrate with the community and create a bond! Not only will this approach help with your operational efficiency, the immense support the StartUp Bahrain Community has for one another is something you definitely do not want to miss out on, from opportunities to collaborations, all the way to having a diverse amount of influential individuals recognize your business.
Lastly, bear in mind that it takes a lot of effort and perseverance to operate and promote a startup, and while the marketing tactics listed above can be very helpful, a mixture of different methods that are tailored to your business is ideal.
How would you promote your business? Share your experience, thoughts, and insight into this topic with us! And, if you have something you want to share with the StartUp Bahrain Community? Then feel free to contribute by sending an E-mail to firstname.lastname@example.org and have your voice be heard!
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