ATTRACTING INITIAL CUSTOMERS

That is good but not good enough because running a new business is not just about your product. The tough job for any new startup is how to get the value you are offering to be recognized by your chosen market.

Most of the new ventures face the challenge of obtaining the initial customers. But it is very important for every business to define who their customers are and what they are for the business before acquiring the initial customers.

It is very common to see many new businesses launch in the market without proper planning and complete functionality. This means that the introductory stage is not the perfect time to expect massive growth, whether through paid or organic marketing campaigns. 

As an alternative, take the primary users as a learning experience. Actively generate feedback and utilize their opinion to enhance your product and make it better. When the primary users get satisfied with the value you are offering, they will become loyal to your brand and spread positive word of mouth in the market. Loyal customers play a vital role to take your brand to the next level.

If you are improving an existing product and launching it in the same market then you should be able to cover all those marketing channels that are being covered by your competitors. All the media resources that are present in the industry must be utilized at full scale to create publications about your product.  If you are launching a completely new innovative product which is going to cater new set of needs of customers then you will need to come up with a broader approach. Building up relationships with different media channels will be required to create awareness about your business.

To make your product acceptable in the market, you must identify the real customer insights. You should know the needs of the customer that your product fulfills. Your product must fit the target market better than your competitor to create a distinctive image in the minds of the consumer. Initial customersshould always be the learning point for startups.

The most important thing a startup business should do is talk to the people in the industry who can be your potential customers. When reaching out to those people, do not sell your product. Instead, try to understand them, learn about their needs and how satisfied are they with the current products. Once you have learned your initial key customers, you will have an opportunity to sell your product according to their requirements. If you have done your job right, then these early stage customers will recommend your product to other people and create a positive word of mouth to drive future growth for the business.