With the addition of more than 1,300 startups in 2019 and a total tech startup count of nearly 9,000, India continues to reinforce its position as the third-largest startup ecosystem in the world, according to IT industry body Nasscom.
With so many emerging startups, the demand for investments increases tremendously. However, not all startups can make it past the early stages to boom into a successful business.
Here’s a sobering thought – around 20% of businesses don’t live past their first year. This is a minority, of course, but still a significant risk to be aware of. Bad online and offline marketing, as well as poor market research, are probably the chief culprits here. About 14% of small businesses and startups fail due to poor marketing.
Startups Face Different Kinds of Challenges in Marketing
A major hurdle for every startup-owner is to grow business through the years. Startups thrive on massive investments and funding, and these come from persuasive and impressive marketing strategies. Lately, the trend is shifting towards online marketing and promotions.
For a startup’s survival, consistent generation of revenue is crucial. Investors who fund startups look for one thing – big ROIs. And few things matter more than the business pitch.
In order to pitch a startup concept and plan to the board of investors, the following things should be taken care of:
– A robust business model should be developed that would have a sustained impact on the current market and a considerable public demand
– Competent online and offline marketing strategies should be planned in order to put the product or service out in the market
– Return on investments should be predicted and optimized based on customer engagement
How can all of this be achieved while also making sure your startup stands out?
Consider a small but remarkable tool for online marketing for startups – videos.
What Kind of Impact Can Video Marketing Make for Businesses?
These stats show how important and beneficial it is to have a video-based marketing strategy for your startup.
Videos have proven to be one of the most powerful tools in the marketing industry. This is because videos capture user attention faster, and convey accurate information while leaving little to no room for doubt among the viewers. This, in turn, aids their decision-making process, helping investors gain interest in the startups.
How can Implementing a Video Marketing Strategy Benefit Your Startup?
A majority of senior executives prefer watching a video over reading text. 59% of executives would rather watch a video. According to a poll conducted by Forbes, 75% of business stakeholders view an industry-related video at least once during the workweek. Half of those watched videos on YouTube and almost two-thirds of these executives clicked through to the marketer’s landing page after viewing.
– Videos can increase your customer base, big-time. According to Invodo, 92% of people who watch mobile videos share them with others.
Mobile video marketing can be used to strengthen your target audience engagement.
Mobile video viewers report that they watch streaming videos 300% longer than desktop viewers. 52% of web videos viewed on desktops are under 4 minutes long, while 42% of videos viewed on tablets and mobile devices are over 10 minutes long.
– For a sales-based startup, video marketing can help boost sales conversions. Marketers who use video in their marketing strategies grow revenue 49% faster than non-video marketers. According to ComScore, 64% of the users are more likely to buy a product online after watching a video. There’s a good reason why many businesses have tasted success with videos.
How Can Startups Go About Video Marketing?
Making room for videos in your startup marketing plan is an excellent idea. In order to come up with the right video for your startup, you should –
Toolbox Studio can help your startup by developing video marketing strategies and explainer videos for your businesses. Contact us to know more.