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April 13, 2011

How to add Value to your Start-up Business

When starting-up a company, there are numerous risks that you will be confronted with. The company may fail due to a multitude of factors. But it can also grow to unexpected levels of wealth if you know how to continuously add value to your business. There are several techniques you can use in order to add value to your start-up company:

  • Always be aware of the strategic role of information. Even if you are the leader of the market at a specific moment in time, you cannot just assume that you will remain there without any efforts. As a start-up company, when you are just working in order to gain customer’s trust and fidelity, you constantly have to keep a close eye on your competitors as they may easily get ahead of you just because they find out about a new trend on the market ahead of you. Never stop updating your information concerning the market and the progress made by your competitors.
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  • Make sure that your products are visible on the market. You need a very powerful advertising campaign in order to get the customers interested in your product. You need to build a brand and use all the marketing strategies in order to obtain profits out of it. Adding value to your product means offering a high-quality product at a fair price. Be aware of the sales campaigns because using this technique too often in order to draw attention upon your product may result in lowering the perception of the quality level of your company. You can promote your products through other techniques such as fidelity cards, mega packs of products, fidelity gifts etc.
  • Keep a close eye on your clients’ needs. This is the only way of generating a constant growth. If not knowing what the customers need and expect from you, you cannot satisfy their demands. Be aware of the fact that a satisfied customer is not just a constant buyer, but also a very powerful resource of word-to-mouth marketing. So, instruct your sales team, build a blog on which to maintain the relationship with your clients and give them advantages once they have become constant customers.
  • Segment your market and advertise accordingly. It is very important for you to have as much demographic and sociologic information about your clients as this can help you understand their psychological pattern. This is the first step into building a powerful advertising and PR campaign.
  • Create products that respect the identity of the brand. You cannot come up with a new and totally different product than the one before if you want your company to grow fast. Not in the start-up phase. If you are already a well-known company, this may be an intelligent step, but if you are a start-up company just finding its place on the market, offering a too large variety of products to your customers will only confuse them and make them loose track of your project.
  • Make sure to use all the available techniques on the market in order to make your product popular. As the target audience has different features and different life styles, you have to make sure that you manage to reach all your potential clients and this actually means using all the communication channels in order to promote your business.

If carefully respecting all these advices, you can make sure that you will add value to your company and make customers trust you and your products. This is how you can manage to persuade your customers into buying from you rather than your competitors.

Keep a close eye on your competition and always maintain a close relationship with your customers. Advertise, advertise, advertise and you will soon see that you have evolved from the start-up stage towards the expanding stage, managing to give strength to your dream company.

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