Starting a company can be one of the best decisions of your life, but it also demands a lot of work. As the owner of a digital marketing company, I get this question a lot from clients –”how can I get a higher ROI on my startup business?”
There’s no easy answer. From crafting a solid business plan, and fine-tuning your SEO strategy, to pivoting when necessary, you will need to invest time and resources to gain traction.
And, considering that the top reason for startup failure is a cash crunch, it’s important to have a firm handle on your financials in order to make smart decisions at the right time.
Having designed digital marketing plans that actually work for multiple clients, I can tell you that the starting point is to understand your target customers and craft a strategy to drive conversion rate.
In this process, various tools such as HubSpot, Trello, Hunter, Slack, and Zoom business tools help business owners to increase their business productivity.
But, what do other business owners have to say about deriving the best ROI for your startup?
What are the Experts Tips for Deriving the Best ROI for Your Startup
Here are 8 expert tips to help you get started:
It starts with understanding your target audience and crafting a marketing strategy that speaks to their needs. Identify the marketing channels you will use, generate a content plan, and break it down by channel.
Then, perfect your SEO strategy by optimizing your landing page, building links, and getting your site ranking high on Google. Focus on lead generation and build brand loyalty with the right mix of digital campaigns. Try different marketing strategies to optimize conversions and gain the maximum ROI.
Reena Aggarwal, Head of Operations and Sales at Attrock.com
Boost your Customer Experience The customer experience can also help you grow your business. Taking the time to ask customers for feedback will help you improve the conversion of business.
A customer satisfaction survey, a Net Promoter Score survey, and a Customer Effort Score survey can all help you track metrics that tell you how your customers feel and this is a great way to improve the experience of your customer and grow your business ROI.
Anurag Pandey, SEO Specialist at Qualaroo.com
Boost your employee’s productivity. Invest in productivity tools that will save your employees a lot of time. They will help them in executing day-to-day tasks more efficiently and smoothly move to more things of greater importance.
One of the most time-consuming tasks for every startup employee is email management- dealing with countless emails, answering them, keeping track of email reminders, sending out marketing/sales emails, etc.
Having email management software with features such as email automation, email personalization, email reminders and many more in place will save a lot of time and effort.
Alicja Olko, Outreach and Link Building Partnerships at VoilaNorbert.com
The best way to boost your startup ROI is to invest your money early in the most important area of business growth. Online, for most businesses that are going to be content.
You want to invest in lots and lots of high-quality content early on so that once published, the content has the time to mature and start rewarding you and boosting your ROI permanently and long term.
Nikola Roza, Content Marketer and SEO at NikolaRoza.com
Communicate constantly with your customers. Sometimes, as marketers, we feel tempted to wait until things are perfect. I say, stop waiting and start sharing! It’s okay to share small updates right as they’re ready.
Not only will you have more content, but your customers will also feel more invested in your startup journey, and be more likely to provide feedback and referrals for you.
Bethany Stachenfeld, Co-Founder & CEO at Sendspark.com
Sender is an all-in-one marketing platform that enables businesses of all sizes and niches to market themselves profitably by generating more leads and driving more sales. We help businesses easily attract and capture their ideal prospects and leads inside their sales funnel with highly customizable, responsive dynamic popups and embeddable signup form templates.
Choose from a range of visually stunning, editable, mobile-friendly email newsletter templates to nurture all captured leads and move them closer to being paying customers.
Alternatively, use our supersimple drag-and-drop builder to design your own branded popups, forms, or email newsletter templates from scratch. Send high-converting on-demand or prescheduled SMS broadcasts to your opted-in list of subscribers to share critical information or update them about your upcoming flash sales campaign.
To squeeze the maximum out of your marketing campaigns, we strongly recommend taking advantage of our advanced email management features, including smart segmentation and intelligent personalization.
Ana Zubkova, Outreach Manager at Sender.net
No matter what niche you’re working in, you should always choose email marketing as a marketing technique as it has the best ROI among all types of marketing and you can get like $42 on every dollar spent.
Ali Raza, SEO at Mailmunch.com
Improving your email marketing ROI is not easy per se, but it’s worth it. Creating personalized email content, segmenting your list, and being unique about your subject lines will keep you top of mind. Combine those with a triggered email marketing campaign that stems from a user action and feels natural, and see your ROI skyrocket.
Virginia Zacharaki, Project Manager at Moosend.com
Focus on creating content that resonates with your target audience. Identify the needs and interests of your audience and develop content that answers their questions and solves their problems. Additionally, create content that is easy for your target audience to consume and engage with. By delivering content that resonates with your audience, you can foster relationships that result in conversions and increased ROI.
Saurabh Wani, Content marketer at Writesonic
Hiring remotely can be a strategic step for startups looking to boost their ROI. By embracing remote hiring, startups can access a broader pool of talent, often at a lower cost compared to hiring locally. This approach not only expands the range of skills available but also offers potential savings on salaries, as startups can tap into regions with lower living costs. Additionally, remote hiring eliminates the need for physical office space, further reducing overhead expenses. These cost efficiencies can be particularly crucial for startups, where judicious financial management is key to sustaining growth and maximizing return on investment.
Sharon Koifman, Founder and Remote CEO at DistantJob
There you go! From investing in understanding your target audience, and boosting productivity, to perfecting email marketing, experts advocate a combination of tactics that help you elevate the ROI of your startup.
Of course, the success of your business also depends on the ability to create a unique value proposition for your business. Defining what makes you different from other businesses in the same industry and analyzing your competitors’ strengths and weaknesses are critical.
You will also need to invest in the right marketing and automation tools that can simplify the process. It’s equally crucial to spend time building relationships with investors, advisors, mentors, and other entrepreneurs in your field.
You and I both know that a startup is always a high-risk venture. To succeed as a business owner and boost your startup ROI, you have to take calculated risks.
Want a hands-off approach?
Invest in an experienced digital agency to help you with your online presence and SEO campaigns. This will allow you to spend more time on developing your product or service and less time on managing your online presence.