By Michael Briggin
It’s no secret that many startups at the early stage fail and are not destined to the promised land like Amazon and Palantir. However, it doesn’t have to always be this way.
Here’s what you can do to be more productive with your revenue goals so your early stage startup can get more traction:
Being Laser Focused on Business Development
As much as product development matters in how your customers interact and work with your products, it isn’t going to work out in the end revenue wise if you can’t sell. Launching marketing campaigns isn’t always assured to deliver with lead generation prospects.
Business development is important as it relates to word of mouth for your startup’s brand. Not only are there multiple creative ways to do this, it can also be a budget saver.
Not all of your deals or subscribers are going to be obtained through a quick process. Maintaining relations with your customers in an ongoing way will help you overtime as long as you are willing to put the work into doing this.
Go Where Your Customers Are Hanging Out
If you’re thinking of investing your time at networking events, you’re likely going to stretch your options thin. Instead, look at more targeted opportunities to meet potential customers.
Focus on conferences and professional associations.
Conferences can get you wide reach although the cost of having a booth in each one does vary. Professional associations on the other hand are specific to an industry or profession and can be effective if you want to meet consistent numbers of people represented in your ideal target market.
Consider an Effective CRM Program
Customer relationship management (CRM) programs are crucial if you want to keep a central repository of information and leads that can help you keep track of your startup’s progress.
Additionally, when looking at market segmentation, using a CRM system can make the difference in enabling your startup to know how to make the next market entry or market penetration so you can grow.
