Have you ever imagined why startups fail? Will discuss one of the vital reason they failed to market their product and service on a given time frame.
This is the common issues among the startup that how they will market the product and services to get maximum output.
Even we show that most of the startup take mentorship from startup GURU( Teacher) but still they are failing. This is not true at all that if you won’t take mentorship you will fail or if you take then 100% you will succeed.
Marketing of a well-known brand is very easy but when we talk about startups then it will become the toughest job to do.
Marketing for product & services for a startup requires out of the box, innovative & meaningful idea. It will be not a one day process to do.
Let’s See What Are The Reason Behind Startup Unsuccessful Marketing Efforts.
No Idea of Market And Improper Market Research.
One day you thought about some product and services and start working on it. Quit the job and invest your own all money and develop the product and services.’
Now you are ready to market the product and services but you will see that there is another competitor who is also dealing in the same. They have a great online presence, have huge customer & already took the market share then what will you do.
You can’t fight with them until you are surname is Ambani, TATA, Birla. For this situation start Market Research before quitting the job, investing your savings. Give little time to know who is doing the same thing and how will you defeat them, How much funds will be required.
Improper And Lack In Survey.
Like market research also conduct a survey for the same. It will take little money to understand the market. It won’t take your settle job and your all savings.
Start survey at the early stage to know what people want exactly, trying to find out the loopholes of the existing player.
Insufficient Knowledge And Less Expertise In Marketing.
The startup founders found worthless expenses to hire the right agency or marketing expert for their branding and marketing.
They will start itself to do the whole process but this not done always. Most of them failed to market and few succeed but success ration is very low.
No Idea of Fund Utilization.
Startup founders failed to utilize their fund at the right place at the early stage of business. Even they don’t keep enough fund for marketing they take it very lightly.
They Invest in fancy office acquisition, unwanted staff hiring ETC.
No idea About Funding Issue & Arrangement.
Funding issues play a vital role in this situation and this is literally a genuine issue we found but for this situation make b-plan before start working on the idea and evaluate. Make plan B for funding related issues because funding is the blood of any business to survive.
Approach another financial institute with your b-plan before the execution of ideas and know what will be the survival way.
Worthless Product & Services.
Sometimes startup founder failed to make worthful product and services that will become the reason for the failure of marketing.
In this scenario, you will have to work on your product & services to improve user experience.
Capability Issues In Management.
Management plays a vital role in marketing products and services. User experience also includes in marketing at the initial stage of business.
Like you have poor USP of products and service then not possible to succeed in a long time. If you have hired a very unprofessional executive that also play a great role in the failure of marketing.
No Proper Structure To Give Response.
The poor response also helps startups to fail to market their product and services. Like you are promoting in full phase and getting query call from all over but your backend team is not capable to give proper answer & solutions.
Either respond to the query after a long time.