In the 16th meet of Entrepreneur Café Hyderabad, we had a rich exchange of ideas and perspectives on different marketing strategies employed by startups. The insights offered by industry veterans such as Marketing Consultants and Market Analysts made the discussion even more knowledgeable and interesting.
As we had both B2B and B2C startups attending the meet, we talked about the nuances of B2B and B2C marketing and the differences between them. B2B marketing is more complex and demands a longer marketing involvement as B2B sales involve much higher transaction values and a more complex value proposition than a typical consumer purchase. Although they both need different approaches; at the end of the day, they are both about influencing people and their buying decisions!
The startups also talked about the marketing challenges that they faced. One of the major challenges usually faced by early stage startups is identifying the target consumers (especially for B2B marketing). Since significant targeting and personalization is very essential to the success of a marketing plan, it becomes all the more important to get it right. The attendees shared the different approaches taken by them to get more data about their target markets and consumers. Other challenges include getting the right connections with the right people and figuring out the right content to provide. The Market Consultants present in the meeting gave advice on how to cope with these challenges.
The discussion moved to digital marketing and how its different forms like social media marketing, SEO, e-mail marketing, etc. can be leveraged by startups. Chakrapani Anumula, founder of iDoneSEO shared his views on some limitations of digital marketing and SEO. Some attendees also shared their views on the benefits of inbound marketing and believe that the conversion rate for inbound marketing is usually higher than that for outbound marketing as it’s more targeted and personalized.
It was a great evening full of ideas and stories (of both success and failure!). As they say, what better way to learn than to learn from other’s experiences?! Thanks to all the attendees for sharing their experiences and making the discussion so interesting!
Ideas discussed, knowledge shared and horizons broadened!
Keep the ball rolling, entrepreneurs!!
City Mayor, Hyderabad