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Start-Ups

How to Use your Marketing Strategy to Increase your Market Share

By Townes Haas   |    January 9, 2017   |    10:39 AM

 

Use these marketing strategies to help increase your business throughout all stages of the marketing funnel and increase your percentage of market share.

Whether you are a startup or small business, the process of attempting to increase your market share is vital. At all stages of your company's evolution you must keep trying to win new customers, especially in startup mode. Even as you read these words, your competitors are making efforts to win your customers over. In today's economy, to increase your marketing share you need to put in consistent efforts. This article will guide you in just how to do that.

Promote your business:

The first key to increasing your marketing share is to promote your business to as large an audience as you can. You cannot attract clients if they don’t know about your startup. Ultimately, market share is a numbers game. This means you will need to put in a significant effort. You need to do this daily! You will need to constantly and consistently promote your startup and your products or services. There are many ways to do this. You can advertise in publications that cater to your potential clientele, ask your clients to give you referrals and you can pay for adverts on radio stations or TV channels. Another key way of marketing your company is to use social media. In Canada, the Internet has become the most populous domain. You should make accounts for your startup on all key social media sites, from Instagram to Twitter, and regularly post compelling information, such as promotions and business-related data.

Create your own blog and link it to your social media accounts:

A very effective way of marketing your company and increasing your market share is to create a compelling blog. In particular by linking your blog to your social media accounts you can use it to build an interested audience of potential consumers. Once you have set up your own blog, you need to regularly post about topics related to your business. You should ensure that your blog is SEO optimized and well-organized so that customers can search for and find other articles on similar subjects. Your blog should feature compelling calls to action. If you give readers the option to subscribe to a newsletter then you can begin to develop mailing lists that will also be useful for email marketing.

Be relevant and different:

There are many ways to market your company as up-to-date and/or unique and thus increase your market share. Consumers like companies that offer something unusual or cutting edge. By spotting trends ahead of competitors or proposing novel products or solutions you can differentiate your startup. Following this use social media to demonstrate your differences.

Be the main sponsor at a charitable event:

If your startup launches a brand new charity or is featured as the main sponsor of a well-known charity event this can translate into huge amounts of press attention. This translates into excellent marketing and new customers. Being a sponsor at a charitable events makes your startup very visible. Furthermore customers like to feel that by buying your products and services they are also supporting a philanthropic cause.