7 signs your startup is ready for a new market
Congratulations! You being interested in this knowledge already means things are going well for your business. You could be considering a new market, playing with numbers, or just dreaming big, whatever it is, you are on the right track. Entering a new market needs to be careful throughout decisions so looking for reassurance is smart. As a scale-up consultant here are our 7 signs your startup is ready for a new market. Because of the global nature of business, it might be that you are already in multiple markets at once, but a true entrance to a new market has a lot more elements to consider than just showing up. These factors are the Inlat specialty, here is what you need to study when entering a new market: 1. Timing 2. Costs and investment needs 3. Language and culture barriers 4. Risks 5. Marketing research and strategy You have been approached by new customers One of the best signs that you are ready to move into a new market is being approached by customers and interested parties in that market. This can present itself in many forms from companies inquiring about your services to comments on social media wondering when you are expanding your offering. These are clear indications of interest and potential profit from expansion. You should consider these carefully and move on to them while the interest is still there. Why is this sign such a good indicator? They mean there is an opening in the market and that you can fill a gap and find a niche for your product or services. You have automated processes Automation means easier workflows, having set processes for handling all aspects of your business is a sign you are ready to grow. This means you have your current demand and production chain settled and can expect things to run smoothly if you focus your energy on other places. It also means that you can duplicate these systems in a new market, meaning less adjustment and more capacity for profit early on. You have created a solid business network Like Inlat acts as a partner for companies looking to enter the LATAM market, you also have partners that can assist in each stage of business. Having a good network of collaborators, suppliers, distributors, and consultants is a sign of a healthy business strategy. How does this benefit your business? You can source solutions for your needs You have a network to rely on when you need to diversify your work Important actors in the industry know and backup your business You have built the teams you need Once you have the people resources to elevate your production you will set it in place for growth. Talent is one of the key elements of success and expansion efforts. Sourcing the right culture matches is high on the list of priorities as having full teams built in time can help operating in new markets easier. Keep in mind that adding talented professionals that originate from the market you are trying to break into will help with language and cultural differences. You have a new investment source Another factor that will push you on the pact of entering new markets is investments. Having an influx of cash come into your business can open doors for expansion. Because you finally have the means to expand production, reach out to new partners, and create a brand in other countries and regions. You feel ready In conclusion, you are prepared to expand into a new market when you feel ready. You have the best analysis of your company because you are on the inside, plus if you meet the points on this list you are also prepared technically for the effort of market expansion. Good luck!...Read more
5 steps to create a winning scale-up strategy
If you are a startup or a new company, you need to start thinking about growth. How can you get from where you are to where you want to be as a company? What are the steps to success from where you stand? Inlat is a scale-up partner specializing in making you grow the right way and we are going to share our secrets. Here are the 5 steps to create a winning scale-up strategy. What is a scale-up? Let's start at the beginning, what is a scale-up company? A scale-up is defined by the OECD as a business in a rapid growth phase. In numbers, this is a company with a turnover surpassing 20% yearly for 3 continuous years, and with at least 10 employees. It’s the magic period where you can go from startup to funded to Series A to IPO. It's the first big step for most new companies, especially startups and those in the tech and SaaS sectors. What is a scale-up strategy? These are the steps and plans you have in place not only to reach that growth rhythm but to act on the momentum and achieve your company goals. As startup entrepreneurs know the window of success is short and making the most of the hype will be essential in getting to a stable position in the market. Your scale-up strategy is going to be that plan that gets you from the starting point to goal achieving status, with the least complications and the most benefits. Know where you are Can’t go anywhere if you don’t know where you are starting from, that’s why it's important to have a clear grasp of your status now. Having the full picture of where your company is at lets you plan for the future using a realistic beginning, which means, better resource management and timeline creation. What do you need to know? Financial situation Product planning Workflow times Staff needs Team distribution Know where you want to go What is your ambition with your startup? Do you want to go big or conquer new markets? Setting long and short-term goals establishes the pace of work and where the attention is going to be directed at what time. Remember to be flexible with goals as unprecedented things can cause shifts and delays. Keep straying until you get to your version of success. Know how to get there What product, service, or unique selling point is going to make you the top in your field? Once you have that figured out the rest gets simpler. Make sure you are listening to the market, because the top cause behind a startup going under is a failure to read market demand, this is the case for 42% of startup fails. After you have chosen the product then start on your marketing strategy and financial planning. Know who is going to take you there Hiring is a huge part of the startup's success model and a must-have for scale-up planning. You will need new talented team members to get you improving, producing, and meeting demands. On average it takes around 6 months to hire for a startup, so you need to be prepared with: Build your employer's brand Delegate tasks effectively Have good communication channels with your leadership Create a hiring policy, process, and package Construct onboarding processes Identify key hires you need to grow Know how much you need to get there You need money to grow, simple as that. There is no scaling up without investing more money into your business. Whether you are getting outside interest or making the investment yourself. Cash flow is one of the key metrics you need to keep an eye on to scale up successfully. This means having enough money for the fun and exciting stuff but also the everyday things. As you grow make sure you are minding your demand generation and put your company in a profitable position. It's always better to grow on the green, than start with the pressure of debt piling up. How to get the money you need to scale up? Budget effectively Go for startup grants and incentives Hire consciously Get VC investments Explore new market opportunities Use resources sustainably ...Read more
Why is LATAM an interesting market for startups?
Imagine a growing market, full of young customers, more affordable talent, cheaper marketing fees, and only two languages to cover. Sounds like a dream, right? Well, that's Latin America, one of the fastest-growing markets in the world, with a young population that is looking for your product. For a long time, LATAM has been labeled as a volatile market but with the advancement of technology, the establishment of industries, and the rising educational level of the population, all of that is changing for the better. LATAM is a great market for companies to expand their business, build new connections and create more possibilities. Immense possibilities Just in e-commerce alone the LATAM market is expected to reach a value of $168 billion this year. The region is becoming increasingly digital and open to technology. Most markets are growing and there’s a real possibility that your industry is also expanding. The future is also bright for funding, the year 2021 was a record-breaking year in venture funding for LATAM startups. Investors left an impressive $19.5 billion for startups in the region. So, whether you are looking to expand, get funding, or else, LATAM has a billion possibilities for you. Fewer language barriers One of the greatest advantages of LATAM markets is that there are fewer language barriers between countries. Since there are only two major languages in LATAM Spanish and Portuguese. This makes investing in communication, marketing, and resources more economical than in other regions like Europe or Asia. Young population One of the more attractive aspects of the LATAM markets is that its population is made up mostly of young and productive age people. In comparison to other regions like Europe. This means that there are long-term customers waiting to be discovered. A great opportunity for startups to break into the market and create a loyal base. Fast-growing market Need more signs of a market worth exploring, how about growth. We already told you e-commerce is expected to soar, the region is also set to become a hub for tech and startup developments. Developing industries, infrastructure plus a young and able workforce means that tech needs will be on the rise. Any business owner's dream is to have a demand filled market to explore. Needs for better solutions As digitalization reaches more parts of the continent there is a growing demand for solutions and companies to supply them. Not only technical responses but also fun and innovative answers to the problems faced by people there. There is an opportunity in Latin America not only to expand your own startup or brand but to invest in local creators that can be the next unicorn idea from the region. Do more with less This might be the best advantage in terms of bottom-line investments. Your advertising and talent budget will get more in LATAM than it will almost anywhere else. Because of the strength of foreign currency vs local ones, you can buy more ad time, get talented people working for you and produce for less. Keep in mind some cases may vary but it's true for most industries. For startups, this means that with the right partner to guide you into the market you can position yourself within LATAM without breaking the bank. Where can you find a partner to guide you into the LATAM market? Inlay specializes in helping startups and other businesses scale up and break into the LATAM market. We have years of experience, connections, and the know-how to establish your name in this new market. Offering full-rounded services and dedicating time to walking you through the whole process. We truly believe in preparing culturally, networking, and setting up your market entry for success. Here is what Inlat can do for your business in LATAM? 1. Growth Marketing 2. Scaling Up 3. Market entry research and qualification 4. Connect you to the right allies, suppliers, and distributors 5. Provide support and cultural guidance ...Read more
What makes a high-quality lead?
Not all leads are built the same way. There is a time in any business when you have to separate any traffic from good traffic to get more for your investments. Think about it, instead of spending to talk to everyone, you spend to speak to the target that actually wants to buy from you. That sounds like a good business move, right? That’s the purpose of recognising high-quality leads. Gives you a better picture of who is ready to make a purchase and who's just window shopping. The numbers don’t lie, studies have shown that brands that nurture leads can see 50% more sales at 33% lower costs. Knowing what leads to concentrate on is the beginning of your strategy. So you can focus your marketing budget on the most profitable audience. What are high-quality leads? High-quality leads are potential customers that have shown interest in your product or service and have a high chance of conversion. Meaning they know your product and are ready to buy. The better the quality of the lead the bigger the chance they will buy from your company. Most of these types of leads share a strong product fit with your brands. It can also indicate a higher lifetime customer retention and value. To summarise, high-quality leads are the target you want to attack because they have 3 very important characteristics: They are ready to buy They already like your product They are more likely to buy again How to know the quality of a lead? Data is going to lead the way in learning which are the better leads for your business. Tracking customer behaviour is the key to qualifying leads. Once you have set up data tracking you will need to create a lead scoring system to separate the high-quality leads from other leads. What is lead scoring? Lead scoring is when you assign a numerical value to customer actions so you can get an end grade or rating for each lead. For example, if you see that users who subscribe to your newsletter buy more than those who just visit your site, then leads from the newsletter will get a higher score. How to create a lead scoring system Start with customer criteria. The basic characteristics your ideal lead has to have Define your customer journey Where do the quality leads start, how do they navigate your page, etc Create a scoring table Give actions, characteristics, and other factors a number Automise your scoring system This helps lessen the burden of work and identifies high-quality leads in real-time to make your sales force more effective Check data and make improvements See where users quit in the customer journey, improve on weak points and strengthen channels that lead to conversions Metrics for lead quality There are some metrics readily available through existing data collection like Google Analytics and some your marketing department has collected. These you can use to get a better understanding of where your quality leads are, what the customer journey is and where to improve. 1. Click-through rate (CTR) 2. Conversion rate 3. Time to conversion 4. Cost per lead 5. Leads per channel 6. Return on Investment How to improve your lead quality in 5 steps Not only will you want to identify which are your high-quality leads but you also want to get more of them. To do so you can try to create lead improvement strategies and experiment to see what actions work for your target. 1. Define your ideal lead and its characteristics 2. Identify your most effective channels 3. Optimise your communication 4. Nurture high-quality leads 5. Stop focusing on bad leads ...Read more
Growth hacking for startups explained
The world of startups has its own terminology and it can get a bit confusing when you are getting used to it. Because of this terms like Growth Hacking can seem daunting and hard to grasp, we are here to help you with that! One of the things you should know is that Growth Hacking started in the startup community but its principles are applicable to most industries. So, these tips will serve you in business for a long time. What is Growth Hacking? Growth hacking is when companies build mechanisms for accelerated growth based on experimentation across channels. This basically means trying different things on multiple fronts to see what is successful in generating growth. It has become one of the most used methods to boost startups in all types of specialties. There are now even professional growth hackers, and scale-up partners like Inlat offer Growth Hacking as part of their services. Growth Hacking VS Digital Marketing The main difference between Growth Hacking and Digital Marketing is time constrictions and pace. Growth Hacking 1. Expects to see results fast 2. Experiments with several actions at once 3. Short-term goals and KPIs to achieve Digital Marketing 1. Knows results will come over a longer period of time 2. Focused action 3. Long-term goals and KPIs While these two seem to be vastly different they will probably have many points of similarity and should be able to coexist and be productive side by side. How to create a Growth Hacking strategy? To set up a Growth Hacking Strategy for your company you will need to get insight into what you need, come up with creative ideas, follow known models for growth hacking and create a team to help you achieve this. The first step will be to assess and set your goals and KPIs → Have a brainstorming session to collect ideas and action to conduct the marketing experiment → Categorize your ideas → Implement and test ideas → Use the data analytics to determine the best ones The top Growth Hacking strategies One of the best things about approaching Growth Hacking is you don’t have to start at a blank page, there are a few tried and tested strategies you can replicate to see results. These accelerated growth strategies can help you scale up your business and reach new levels of profitability, productivity, and other goals! Pre-launch marketing Before launching your product, service, or even updates you should do some pre/launch marketing. Things like blog posts, social media anticipation campaigns and the like can help create a buzz around your brand. Launch platforms for startups 1. Product Hunt 2. Beta List 3. Angellist 4. Launching Next 5. Startup Lister Referral marketing Getting your own users to refer your company is one of the best and most effective ways to market and boost growth. Create a referral and rewards program to encourage users and clients to join. Reviews and testimonies The word of actual users is one of the most effective marketing tools you have. Your brand should have profiles on app rating pages and Google. You can also give users rewards for leaving reviews to grow the number of testimonials you have. This type of resource is also a great asset for creating content across other channels, making a post, video, or blog about great feedback is easy, generates trust, and is engaging. Freemium accounts and free trials Letting people try your product or service for free is the best way to make them see what you can do for them. It's almost policy across startups to have one of these two options: a Freemium account or a free trial. A great strategy for email marketing and paid ads. Gamification Gamification not only makes your platform fun to use it can also incentivize people to share it and talk about it with others. ...Read more
5 Top demand generation strategies
Demand drives business, it is the force behind production and sales. An essential part of any business is to adapt to create more demand for their product or service. When your company is not a provider of necessary goods, you need to learn to become attractive enough to persuade buyers to spend their money on you. So, how can you make demand increase? Here are 5 strategies that can help you! Develop your LinkedIn profiles for both company and personal When it comes to B2B and SaaS companies LinkedIn is the most important social media channel. Why is LinkedIn so important? Because it's responsible for more than half of all social traffic on B2B sites and similar blogs, it's basically the place to be for B2B and demand building. This former professional networking platform has become one of the best mediums to boost brand awareness, make connections with sales departments and create demand for your product. If your company is focused on B2B products or services, then you need to jump on creating an attractive Linkedin profile for your brand, your employees, and yourself. One of the best things about LinkedIn is that personal profiles are just as important (if not more) than the company side. Personal profiles can boost brand awareness and be an incredible selling force for your company. Think of each employee as a potential influencer on LinkedIn. Plus, this strategy can help with not only demand but also recruitment, awareness, and overall brand building. What to focus on with LinkedIn profiles 1. Use good images and offer quality content to followers 2. Ask employees to participate in content distribution 3. Give your employees graphic support for their posts 4. Build a unique tone of voice and allow employees to do the same 5. Quality over quantity always but don't stay silent for too long Elevate your content marketing Content marketing is a cost-effective, long-term strategy for driving demand. Creating quality content will not only add value to your brand but create the foundation for boosting demand. You can introduce through content the reasons why your product or service is needed and link to parts of your business that can help customers achieve their goals. The key will be to offer enough advice, tips, and quality data to be a valuable resource while highlighting how your product or service can help others achieve goals. Automate your lead management Lead quality and management are going to be key strategies for demand generation. Leads are where you get demand from and those connections will be the foundations of business. Being able to get qualified leads and not lose them in the noise of everyday tasks will make your demand shoot up. These clients already have needs and your rapid response is the market driver that will make the difference. We use CRM and lead management platforms like Streak to stay on top of each customer and provide a quality service that sets us apart, you will want the same for your company. Automation saves time, prevents mistakes, and keeps your leads organized for you to meet goals, boost demand, and more! Boost brand awareness Want more people to ask for your services/product? Tell them what you do! This is demand 101: if people don't know what you do or who you are, they won’t reach out, simple as that. You can start with 3 simple but effective actions 1. Create a brand manual → Having a consistent brand image can increase revenue by up to 23% 2. Start blogging → Brands that blog consistently generate up to 67% more leads 3. Choose your color wisely → The right combination of colors can increase brand recognition by 80% (Source: smallbizgenius) Inject your brand with personality, and ideas and create a story around it. Remember you are appealing to people and need to create connections. There are branding opportunities you don't want to miss. Switch to omnichannel marketing to increase your reach Omnichannel marketing means that all the channels you use to communicate with your target are integrated and connected. This makes it easier to manage communication, create a consistent schedule for message distribution, make your content reach its audience, and develop a marketing strategy that starts with the big picture first. Using omnichannel marketing lets you post and schedule to several places at once plus communicate with your customers easily and uniformly. Nothing gets lost in translation or publication and you can cut workloads, costs, and timeframes by a lot. ...Read more
5 key tips for generating qualified leads
Lead generation is one of the most important parts of a successful startup or business. It’s the first step of the user and client acquisition process so it needs to be constant and strong. Once you figure out how to generate great leads you will see an expansion in business and profit. The best way to go about this is to set strategies and automate lead collection, generating a continuous flow of leads for your company. Build a content strategy for your website Content is one of the best ways to generate leads from your website. It capitalizes on your target's interests to introduce your brand, and services and funnel people from an article to a meeting or subscription. This article for example is aimed at giving tips for lead generation but it also exposes readers to Inlat’s knowledge in business and can create leads for us. The main thing to remember about content as a lead generator is that it is a long-term strategy, you need to produce content regularly, make sure it has quality, and is actually helpful to your target demographic. Here’s a quick starter guide to creating your content strategy: 1. Research your target audience's needs and likes 2. Create a solid brand tone and persona 3. Build a good content creation team including blog writing and visual talent 4. Diversify your content from blogs to videos, tutorials, ebooks, and more 5. Use content across platforms and adapt from the website to social Collect and analyze data Data is everything when it comes to lead generation. One of the best things about the digital age is how much data we can collect and what we can learn from it. Paying attention to your lead generation data will tell you what parts of your website and social campaigns are captivating your targets, what type of messaging works, and what your most in-demand service or product is. If you are starting out, then focus on the basics where is the consumer traffic coming from, what pages get the most views, the user's journey from homepage to shop or subscription, and where you are losing leads on the site. Use these focal points to improve your strategy and performance by trying different copy, graphics, or functionalities. Pay attention to mobile According to a Hubspot research, mobile optimization is one of the most successful strategies for lead generation, 64% of SEO marketers think so. Because mobile traffic, shopping, and acquisition have become so major you can no longer ignore this vital part of your digital lead funnel. Having a mobile experience that can bring in successful leads can be a game-changer for your business and it doesn’t take much. To enhance your mobile presence you need to build mobile-first sites to create an active mobile presence and invest in mobile ads. Scale-up to new markets We told you we’d talk about Inlat, this is it. One of the best ways to generate more leads is to expand your markets and to do that you will need to scale up partners like Inlat. For us, the mission is getting you in a competitive position in the Americas, providing you with the tools for success, and seeing you grow. New markets bring more leads, once you have created a solid stream of users where you started it's time to think about expansion. This is not only healthy business is the only way to grow your company. Think carefully about what market works with your product and plan your strategy with the help of people familiar with the new territory. Create a global strategy for marketing, sales, and accounts If you want a successful quality lead generation funnel your strategy needs to encompass the marketing, sales, and account teams. Having these three departments on the same page when it comes to attacking, managing, and turning leads into customers is going to be essential since they will all rely on each other. The marketing message needs to stay true → to what the sales team can deliver so that → accounts can then manage relations and expectations ...Read more
Pre-market qualification: How to plan a market entry?
Being ready to expand your business into new markets means you have achieved the success needed where you started, it also means you are ready to put in the work needed to do it right. Growing from one market to conquering another requires organization, research, investment, and a deep understanding of the new territory. Take for example Latin America, a young growing market that can be a productive investment for years while at the same time being an economic landscape you need to tread carefully. Entering the Latam market is a great idea for some businesses, however, it requires companies to come prepared. The region, where Inlat is an expert market partner, is one that is leaving its tumultuous past behind for a shiny future, a market that is great, especially for startups. How do you know your company is ready to enter Latam or any new market? 1. You are turning a profit in your current market 2. You have investors lined up to back your new market venture 3. You have allies or partners in the new market 4. You know there is a clear need for your product or service in the new market 5. You have previous knowledge or a successful position in this market Timing your entry into a new market Timing is everything when it comes to market entry, so you need to plan your first steps carefully. Entering the market at the right time makes a huge difference, and can change the way users respond and embrace your product. To do this you need to keep an eye on the market, have a tight week-by-week plan for introducing your brand in the market, and plan supply, marketing, and all other aspects ahead of the incursion. Figuring out what you need to enter the new market Once you have looked at the timing you’ll need to start a checklist of other items on your market entry list. Depending on the market this list will change but it is essential you have a solid growth infrastructure to complete your goals in the new landscape. Cultural settings First, figure out the cultural differences you will need to adjust to. How to relate with the local customers or users, these are all the general details: ✅ Languages ✅ Cultural practices ✅ Limits and what to avoid ✅ How to advertise there? ✅ Demographics Competitor research One of the most important parts of this market entre preparedness is recognizing and sizing up your competition. This gives you an overall view of the market you’ll be competing in and where your product stands amongst the others. Getting reliable partners in the new market A reliable market entry is a special ingredient in any market incursion. Creating partnerships with the right companies, consulting firms, or distributors will get you closer to your target audience and provide a smoother entry into the market. At Inlat we guide our clients into the Latin American market with a combination of inside knowledge, customer insights, and the best growth strategic planning in the region. Coming up with a new marketing strategy adaptable to the new market New markets require new marketing strategies. This target will need to be spoken to in a new way, so your marketing plans will need an adjustment. Investing in marketing research and expertise will make a huge difference. Having some insight into what the demographics respond to and what works and doesn’t in that market, will make your strategy more effective. Launch and for gathering data for adjustments The final parts of your new market entry will be the after-launch results. You won’t fully know how the public will react to your product until you launch your product. Prepare to collect and analyze the data that comes in after your first launch. This will help you assess, reorganize and improve results. Good luck in the next market! ...Read more
How to choose a Scale-Up partner service?
Scaling-up is the process that most companies go through after their initial foundation and success to increase growth. There are partners that specialize in helping brands go through the Scale-up phase. These partners have the know-how and the connection to make growth a much simpler goal to achieve. What are Scale-up services partners? Scale-up services partners are there to set up companies for success and growth. They offer the accompanying services that increase revenue, brand awareness, presence, etc, depending on your goal. As an example, Scale-up services at Inlat Global include: 1. Pre/entry market qualification 2. Market guidance and connection for Latin America 3. Sales execution 4. Qualified lead generation 5. Business development 6. Management of your Key Account 7. Growth Marketing: social media, content marketing, etc. 8. So much more! Main benefits of using a Scale-up partner ●Grow faster and easier ●Get access to a new market with a knowledgeable guide ●Use your partner’s services to cover your own needs ●Save time and money ●Outsource tasks you can’t cover ●Get connected with other companies for partnerships and collaborations Here’s what you should look for in a Scale-up partner Gain expertise One of the main things you want to get out of a business growth partner is expertise. They need to be better than you at what they do, that’s why you hired them in the first place. When choosing a consultancy or business partner, look at what you are lacking first and see what matches and fills your needs. That will be key to choosing the right Scale-up services provider. Good communication A good partnership needs communication to be easy and transparent. When choosing your growth service provider examine how the meetings, emails, and general communication go. It helps immensely to work with people you can relate ideas to easily. If they can understand your vision it's more likely they can make it happen. It also helps in terms of relaying your company’s identity to other third parties. Access new markets One of the most significant things Scale-up partners can do for your company brings you into new markets. Expanding your reach into unexplored target audiences can have a huge impact on your growth and revenues. Why do you need to be in Latin American markets? Latin America is an increasingly digital region with no signs of stopping its evolution. It’s also an incredibly diverse market with many countries and possibilities for growth. Inlat specializes in the Latin American market; granting companies access to key business opportunities while providing expert guidance through the market. Another aspect to remember is that Latin America is a young region, in terms of population age, increasing its value in the long term. There is much to gain if you enter the market the right way with Inlat. Boost marketing actions One of the main components of scaling up is marketing. You need to look for growth partners that have a dedicated marketing service and can give you the support you need to expand your marketing efforts. Compatible and innovative technology If you are partnering up with another company your tech needs to match or be improved. Having tech compatibility makes communication and work easier. If your partner can also offer access to better tech tools is a plus, meaning they can improve your processes and handle their own work efficiently. Make sure to take a look at the tech your partner is using and what other companies they work for to scope out opportunities and matches. ...Read more
3 Growth marketing strategies to boost your business
The last couple of years have made a deep dent in a lot of businesses and changed the landscape of entrepreneurship. Many integral parts of business have moved even further into the digital spectrum, while the importance of having a brand personality is even stronger. So what tools can help you achieve success? One’s that join both of those things. These are 3 growth marketing strategies that can boost business and solidify your brand. What are growth marketing strategies? Growth marketing strategies are the different ways in which a company can approach marketing in order to achieve different goals from scaling up to increase sales. They are the basic foundations that will direct actions, budgeting, and planning. Depending on what the company wants to accomplish. So, it is important that the first step you take is to identify the growth objective. You can use growth marketing strategies to get better results in all these areas: ✅ Brand awareness ✅ User base ✅ Gross sales ✅ Social media following ✅ Website visits Once you have identified your goal you can get started on strategies. For this article, we’ll show you 3 growth marketing strategies that are useful for almost all purposes. Email marketing Yes, email marketing is still a great tool for growth, one of the best actually. A lot of people complain about being subscribed to too many email lists, but those lists tend to work. It keeps customers informed, engaged, and can be a direct lead or sales generator. Email marketing can help you with three major things: 1. Increase engagement 2. Boost sales 3. Improve customer retention To get started with your email marketing strategy follow these steps: 1. Identify your goal, what you want to say, and your target audience 2. Create a brand tone so that writing is simple and recognizable 3. Make the content of your emails valuable for your clients 4. Create an email marketing signature for all your emails, we recommend LinkCard 5. Use automated tools to make things easier Scale-up partnerships Scale-up partnerships can give your company the competitive edge it lacks while granting you access to marketing tools you don't have. Why is it a good idea to get a scale-up partner? Because they take care of the work for you, you get to keep focusing on work and have your partner give you the keys for growth. It is an excellent option for companies and brands that want to stay product-focused, don't have the bandwidth to expand marketing teams, or for those that want to explore a new market with local guidance. Scaling up is what we do at Inlat Global; we provide our partners with multiple growth services and access to new markets in Latin America. So, we know what we are talking about here. Content marketing Content marketing will be the foundation of your SEO, organic traffic, and audience building. Creating quality content that your target finds useful is going to be one of the most effective and versatile marketing hacks. The best part is you can use it in so many ways! If you don’t have a huge marketing budget then this is for you → One piece of content is used for a blog, then a video shared on social media, added to an email campaign, and so much more. If you do have a big budget → Higher quality content, advertising, etc. Content marketing is all about creating value around your brand, connecting with your audience, and making sure they relate your name to positive ideas. ...Read more
What is the startup death valley curve?
Any business, no matter how ingenious, will run into trouble. One of the most common issues for startups is the death valley curve or J curve. This is a financial phenomenon that occurs to startups when they run out of their initial funds and have to face a harsh market. At this point, they will either fail, adapt, get more funding, or scale-up. Planning for the J curve of startup death valley must be part of your strategy as a CEO and founder of a startup. With only 10% of startups making it in the long run, being ready to face this financial situation will ensure your business has a better shot at being one of the ones that thrive, holding you together until you can start to turn a profit again. What is the startup death valley curve? The startup death valley curve or J curve refers to the graph that comes out when your cash funds are plotted against time, which is expected to dip to the negative before rising again. It is an assumed risk of entrepreneurship and almost unavoidable for any new business. Overcoming the death valley curve is a sign of maturity for both leaders and the idea at the core of the startup. How your industry type affects your J curve While the J curve will always follow the same shape, depending on the industry it will have a more or less dramatic decline. Low risk Low-risk business ventures like food, hospitality, or traditional services, will have a smaller dip in most cases. As expenses can be accurately calculated as well as revenue expectancy. High risk High-risk ventures like tech startups have more pronounced dips in their J curves, caused by product experimentation and development expenses. The graphic is more dramatic also because of the high return high-risk ventures can produce. How does scaling up help you avoid falling victim to the startup death valley curve? The best way to help your startup pass the death curve valley is to scale up and start making a profit again fast. Having a strategy for growth is the best antidote for a slump in your finances. Why? It gives you a direction to place your efforts and the rest of your funds Makes it easier to get more investment when you have a plan Opens your business to new markets that can bring in profit A healthy J curve startup progression looks like this Startup creation Release your product Experimenting and investing with the best product version (death valley area, usually where the dip happens) Building a solid business model Scaling up Invest your earnings and celebrate your wins! How to scale up your Startup business? Scaling up your startup is the best plan to take on expected death valley curves, even if you do not experience a dip in your financial situation. Because scaling up is basically just a road map for growth it's going to come in handy no matter what. Here’s how you can get started with a scale-up plan for your business. Do an internal evaluation Set concrete and achievable goals Explore scale up new partners and markets Create a growth plan and focus your investments on it Commit to the scale-up plan ...Read more
How startups can use the scale-up strategy?
So, you had an idea that you managed to develop into a business, a startup, and now you are ready to take it to the next level. Being in the startup business can be one of the most exciting and tough things any entrepreneur can take on. It requires the foresight to look for good ideas and the business mind to make the right choices at the right time. Scale-Up strategy can be one of the best choices you make for your startup and it can move you away from growing pains to solid gains, by letting you explore new exciting marketing tools, expanding targets, and more. What is Scale-Up? A Scale-Up is basically a business that is experiencing high growth. If we follow the OECD definition it would be companies growing either employee or turnover numbers by 20% yearly, for at least the past three years. Three years and more of continuous growth sounds good, right? Let’s get you there. This is the most important stage of growth for most companies, as you are getting ready to prove your real, consistent power in the market. It’s the make or break part of the story for many brands. Differences between Scale-Ups and Startups Scale-Ups are the next logical steps for startups. Unlike the initial startup stage, Scale-Ups are no longer experimenting with products, they know what works and have a solid offering. They also usually have funding or are bringing in revenue to consider growth. As well as having a more organized internal structure ready to receive new employees. Think of a Scale-Up as the more mature version of the startup, on its way to being a big, consolidated company. How to build a Scale-Up Strategy for your business? Scale-up specifics will vary in each company, depending on markets and targets, but there are a few general steps you can take in order to prepare a path to turn your startup into a Scale-Up. 1.Get a clear picture of your now You need to know where your startup stands now in order to make any plans for becoming a Scale-up or changing course. Having an overall view of where your finances, resources, products, and team is, will ensure the goals set, and decision-making is much easier. 2. Set goals You know where you are, now define where you want to be! Set clear, realistic goals for your business and then separate those goals into smaller more specific accomplishments. This helps you not feel overwhelmed and celebrate each step forward. 3. Be SMART Whatever you want to achieve, the tactics to get there need to be SMART and by that we mean Specific Measurable Achievable Relevant Time bound 4. Create a core team Figure out who in the current team is most valuable, who needs help or motivation, and give it to them. Having clearly defined responsibilities and talent helps you know where to go for what you need, and makes the company respond to pressure positively. 5. Expand your horizons Exploring new markets with the right alliances, like you can do in Latin America with inlat can expand the revenue possibilities and have a huge impact on your growth. The market and audience you started with do not have to always stay the same, in fact, it is almost necessary for it to change. 6. Turn ideas into numbers All of the things you want to do need to translate to hard numbers, meaning investment needed, new employees, to add, markets to expand to, advertisement, etc. Be prepared to back up your idea with data. ...Read more