Marketing Strategy for Startups

Set Target• Need for lead generation i.e. initiation of consumer interest into your

product for purposes such as list building, e-newsletter list acquisition.• Need to extend the number of consumers familiar with the qualities

or image of your product.• Need to increase sales.

Define your marketing expenditures• Cost for Marketing channels (e.g. internet marketing, stores)• Cost for Sales employees• Determine your monthly budget (price to buy one customer x number

of customers)• The price per customer is estimable hence you should take into

account the risk of not achieving the number of customers targeted for the budget in the previous step • You could set a digital marketing strategy that you use as a test to

minimize your risk

References• Joe Apfelbaum, “Marketing Budget For Small Businesses,” Forbes,

2015.