Create Sales Opportunities
When you have a great product or service that you believe will make a lucrative start-up business, you may be eager to announce it to the world and get as many people on board as you can. However, taking on such a wide scale marketing campaign straight out of the gate can actually be your start-up’s undoing, even before you get it off the ground. If you do in fact have a product or service that people are going to want to buy, you should first focus on a narrow and simple sales approach and leave the marketing until later. This approach can help you launch your business and get those initial customer acquisitions that you need for your future success.However, you may be asking yourself why you would not want to focus on marketing over sales in the beginning. In fact, without a healthy amount of initial sales now, you will not have the money later to acquire new customers or undertake any marketing. You need to acquire paying customers who are generally interested in what you have to sell and bring in profits from those accounts to ensure that you have a cash flow on which to depend when you are ready to expand your business. If you take on a massive marketing campaign at first, you may let everyone know that you are in business and have something to sell. However, you most assuredly will not garner the numbers to get your business off the ground. In fact, you may be met with more disinterest than people who are willing to invest in product or service.
With that, it would benefit you to take a more narrow and simpler approach to getting your product or service onto the market. You should identify your target audience and then actually go out and pitch it to a select group of people whom you believe would be most interested in buying what you have to offer. This manual customer acquisition will give you the feedback you need to improve your product or service. It will also give you the chance to figure out how to market it to a broader base once it is perfected. However, in doing so, you will be sure to establish paying customers will will provide you with the return investment that you need to keep your business going and even launch it into new markets.
As beneficial as this approach is, however, you may not be one for face-to-face interactions and be less than eager to hear less than ideal feedback about your company. When you want to establish viable customer acquisitions for your start-up, you should look to us to guide you. We can provide you with the advice and insight you need to perfect your business approach. We can also help you figure out how to get more value out of each customer so that your LTV outweighs your CAC greatly.
When you have a great product or service, you understandably want to share the news with everyone. However, taking the time now to establish those initial paying customers can give you the sales on which to build the future of your company.