How to Turn Your Startup Into a Lean, Mean Marketing MachineDon't let any of your marketing efforts and budget go to waste. Here are three ways to market more effectively and efficiently on a shoestring budget.

ByRoss Kimbarovsky

Opinions expressed by Entrepreneur contributors are their own.

Shutterstock

Marketing your startup can get expensive and often the strategy you choose doesn't work as planned. How can you promote your products or services without spending a lot of money or time developing comprehensivemarketing plans?

You've heard of thelean startupconcept pioneered by entrepreneurEric Riesand popularized over the years by professorSteve Blank. The lean startup approach, which favors experimentation over planning, offers a useful blueprint for developing a more efficient marketing strategy.

Here are three ways you can apply it to your business right now:

Test your marketing ideas in small batches.
Instead of investing months to plan and research, lean startup encourages businesses to develop untested assumptions and quickly test those assumptions in the marketplace -- a concept that can easily be applied to your marketing efforts.

When you invest a majority of your marketing budget into developing strategies and tactics, you make a gamble that they will actually succeed. This is a sucker's bet because most marketing strategies fail.

Instead of developing big plans and investing the vast majority of your marketing budget in one or two initiatives, break your budget into smaller pieces and test a variety of ideas.

For example, do not commit to six-month marketing campaigns on Facebook and Twitter. Instead, dedicate a small budget to run two-week experiments. Pick a variety of images and develop four or five different ads. Within two weeks, look at the results to measure which ads send the most traffic to your site and which ads result in better conversions. Compare the traffic and conversions from Facebook and Twitter relative to the money you're spending. Is one network sending more customers? Do certain ads have higher click-through and conversion rates? Which ads perform best on both networks?

#insert related here#

If your experiments fail, don't worry -- this is normal. At my company, 99 percent of the marketing tactics we try fail. Find several other channels -- pay-per click search-engine advertising or sponsoring a newsletter targeting potential customers, for example -- and run new two-week experiments.

You don't even have to run actual experiments on Facebook or Twitter. You can put together four or five ads and launch a survey on the crowdsourcing internet marketplaceAmazon Mechanical Turk. Offer 500 people 10 cents each to answer a small number of questions about the ads. Refine the ads based on the answers and re-run the survey with a different batch of 500 people. By spending $100 before you run the ads, you'll be able to improve them and focus your marketing message.

Experimenting with different options will give you a better sense of how your prospective customers respond to your marketing so that you can focus your energy and budget on those channels and tactics that work best.

Leverage your customers' feedback.
Marketing is typically one-way communication, but it doesn't have to be. Just as lean startup encourages businesses to listen to customer feedback in order to modify initial assumptions, businesses can easily find ways to leverage feedback from customers as they test marketing ideas.

After your two-week experiments on Twitter and Facebook end, for example, you'll have a group of customers who purchased your products or services that you can survey. Why were your messages effective to those customers? What made them click your ads and complete a purchase?

Ask your customers and try to offer incentives to encourage people to respond. At my company, for example, we often raffle a few $50 gift cards to survey participants. Call customers and conduct brief phone interviews, ask them on Twitter or Facebook, or develop a short online survey. Did they like the images in your ads? Did they respond to the content? Did they like the landing pages or did other factors lead them to make a purchase? What would have helped them purchase sooner?

Be prepared to change gears quickly.
Once you've gathered this information, you can move into the third lean-startup stage, agile development: the process of improving your product or service in incremental ways in response to what you're hearing from customers.

If customers tell you certain images get them more interested in your products and services than others, find more of those images and re-test your assumptions. By doing this, you can adjust, refocus and find those marketing channels and messages that work best for your brand.


Wavy Line
Ross Kimbarovsky

Founder and CEO, crowdSPRING and Startup Foundry

Ross Kimbarovsky is founder and CEO at crowdSPRING and Startup Foundry. In 2007, he left a successful 13-year career as a trial lawyer to pursue his dream of founding a technology company. That was the start of crowdSPRING, a marketplace for crowd-sourced logo, web, graphic and product design, and for company-naming services. He is the author of the ebookStand Out.

Editor's Pick

Related Topics

Business News

'This Is My Life Now': Man Hysterically Documents Elon Musk's 'X' Sign Blaring Flashing Lights Into His Bedroom Window

The sign, reportedly put up without a permit, is shining bright at X HQ in San Francisco.

Business News

“可怕的建议”:芭芭拉·科克兰抨击的语气Deaf' Business Advice to Interns

The "Shark Tank" star shared tips on social media about how interns can increase their chances of getting hired full-time, but the public reaction didn't go as planned.

Leadership

These Outdated Habits Are Leading to Workplace Inefficiencies And Taking a Toll on Your Productivity

No wonder companies are having trouble collaborating effectively digitally.

Growing a Business

3 Ways Leaders Can Use Data to Grow in Shrinking Economies

Business leaders need to find a way to make sense of this dynamic environment and use it to their advantage — and they can do so with data. Here's how.

Money & Finance

Want to Become a Millionaire? Follow Warren Buffett's 4 Rules.

企业家是不能过度指狗万官方望太多a company exit for their eventual 'win.' Do this instead.

Business News

An 81-Year-Old Florida CEO Just Indicted for a $250 Million Ponzi Scheme Ran a Sprawling Senior Citizen Crime Ring

Carl Ruderman is the fifth senior citizen in the Miami-Fort-Lauderdale-Palm Beach metropolitan area to face charges in connection with the scam.