Startup Success: Considering the Foundations of a Successful Digital Endeavour
While the proliferation of digital platforms has given budding entrepreneurs a fantastic way into entering the business landscape, becoming an online success story isn’t quite as simple as many have been lead to believe. Unfortunately for newcomers, years of developments, upstarts and growth have left the barrier for entry excessively high for those attempting to find an audience, regardless of how valuable their service may be.
However, that doesn’t necessarily mean all is lost in the fight for digital dominance.
To help you get started, we have developed a simple starting point for businesses hoping to make an impactful entrance into the online world.
Do You Have the Power to Facilitate Your Goals?
To take a recent example of companies being unable to handle the scope of their success, look no further than Pokemon Go. With an unprecedented explosion of popularity right from launch, the viral phenomenon was plagued with server errors which soured the experience of many early adopters. The severity of this was so much that websites began to pop up that tracked the server status of this viral app, which has since become a benchmark example of companies underestimating their scale.
This is a single instance in many where companies have been unable to keep up with the demands of their audience due to lack of forethought. For a digital platform, especially one that is yet to cement its popularity, technical difficulties can spell an early end as users quickly move elsewhere. Luckily, companies such as Greenlight ITC, specialists within the field of IT support in Sydney, are there to manage the technical side of your business, allowing you to focus on growth and development without fear of IT-related pitfalls.
What Niche Are You Filling?
It’s often said that the mark of a good idea is that it already exists.
This is certainly true when it comes to digital platforms, where new websites are being created on a moment to moment basis. What does this mean for you? It means that the likelihood of coming up with a new or revolutionary service is becoming smaller by the second, as new people set out to etch their mark in the online world.
So, instead of focussing on being entirely original, it’s more profitable to work out what you can do differently from those in similar fields. How can you draw an audience that already has a world of possibilities to choose from? To answer this, there is another question that must be addressed:
Who is Your Audience?
For many businesses, the period of relative inactivity that often comes with their newly released web platform not having a built-in audience can be hugely detrimental to both first impressions and finances.
Of course, the severity of this is entirely based on what variety of platform you are trying to offer. Social media sites such as Facebook, Instagram and Twitter thrive almost exclusively off their ability to connect users to other users. Therefore, it’s going to be quite the difficult sell attempting to get users into a social experience that is yet to develop the social element.
One workaround for this is transitioning a pre-existing audience from one platform to another.
This can work in two ways, either:
Transitioning Your Own Users
Attempting to move users from one platform to another is an excellent option for those that have an established audience but are still looking to expand their influence.
Offering users from your other services extra value for utilising your new endeavour is a fantastic way to develop a foundational audience at launch. This can include, depending on the nature of your service:
With that said, even if you don’t have the means to offer perks to your pre-existing audience, having a group that trusts you as a provider of high-quality services or products can often be enough of a pull to draw interest.
Taking An Audience From Elsewhere
Assuming that you understand what demographic you’re looking to target, specifically marketing your service on platforms that already facilitate this audience is an effective way of getting your services in front of those who may want to utilise it. One option that accommodates this strategy is utilising PPC.
For those that haven’t come across this term, PPC (Pay-Per-Click) advertising involves ads that you pay for based on how many people click through to your website. The most well-known service for PPC is Google AdWords, a service that allows you to place advertisements on specific keyword searches on Google, with the price per click effectively being dictated by competition for these advertising spaces.
This means that you are only marketing to those that have an interest in your service/industry, only paying based on those that visit your site. However, for those that are considering this as a viable way to promote their digital startup, it’s important to spend time working out which keywords will benefit your marketing push the most.
Keywords and phrases that get more traffic will likely draw more potential users, but you will almost certainly be paying a large amount per click as competition is high. On the other hand, smaller niche keywords will be quite cheap in comparison, but will likely draw fewer clicks. This is all assuming that you have targeted your services well, as targeting keywords that don’t reflect your service will either lead to irrelevant traffic that costs you money, or no traffic at all.
The push and pull of attempting to cement your business’ online presence can be enough to turn off many entrepreneurs from ever attempting it. However, the overwhelming scope of digital also means that there is always an abundance of resources at your disposal.
So, whether you’re drawing from your existing successes, or looking to develop a platform that dominates the digital landscape, there is always hope for those that are willing to dedicate themselves to their audience’s needs.
Get in touch to find out how we can help you unlock the potential of your business.
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