Giving birth to 2-3 startups every day, India has the 3rd largest start-up ecosystem in the world. On the flip side, it also witnesses a high number of startup failures; with a majority of ventures shutting down within just 2 to 5 years of starting up. Though lack of innovation is said to contribute to their failures, the paucity of funds due to bad or no income generation is said to contribute more. Can you guess what would be the main reason behind this drying up of funds and negative cash flows? It is the absence of effective marketing strategies. Yes, despite the founders trying to be smart and ingenious with their ideas, it is their abandonment of marketing plans which leads to the reduced pour in of income and diminished raise of fresh funds after seeding.
Using minimal resources for optimum impact is the key to the survival of any startup venture. So, what are the budget-friendly yet effective Marketing Strategies that will help one invest the least amount of resources available and obtain the greatest amount of benefits possible? Read on to find out!