Even Expansion Stage Companies can be Power Marketers
In order for an expansion stage company to overcome the limited budget that it’s likely operating with, it’s necessary to market efficiently.
There will probably be an absence of extra cash to hurl at a campaign. Subsequently, your marketing strategies need to have a high investment-to-return ratio. You need to receive dollars on the dollar. Without a return on your marketing investments – something that’s already a challenge for most companies at this stage – you will quickly run through your cash stockpile.
Again, the crux of the message here is that your marketing dollars need to work harder and smarter. A full-page spread in a top magazine is out of the question, essentially. Even if your company could afford it, it’s unlikely that you would see much of a return given the circumstances. Look to social media, for example, as an affordable platform for your efforts.
Like your operational management, it’s best if your marketing is done with as few unnecessary expenditures as possible. For more on this subject, watch the video from OpenView Labs featuring Joe Pulizzi.