Starting marketing for your B2B startup? Top 5 tips for a shoestring budget
I’ve been part of 4 B2B startups over the last 22 years, where I have either started marketing from scratch or reset marketing to start from scratch. So if you are starting the marketing journey for your B2B startup, and don’t have the budget to spend, then read on.
- Please be a believer first
I’ve seen many a failed plot where half-hearted attempts have lead to full-blown disasters. So if you don't believe in marketing (yet), don’t waste your precious time and dollars here. Instead, read up on how successful startups have used the power of marketing. There are tons of stories out there. A quick Google search got me to the link below, which looks like a decent and quick read:
2. The team you need
Now that you have decided to be a believer, here is the minimum team I recommend:
a. 1 Content Writer — someone who knows your industry and your product, and is passionate about writing. Typically, I’ve ended up “stealing” someone from other teams, because hiring this talent from outside, onboarding, training, and getting them started is way too slow and costly. You have got to find someone internal and have them dedicated to the role. Don’t assign multiple tasks to them — content requires a dedicated role.
b. 1 Digital Marketing/Social Media/Events multi-tasker — we ideally need someone with a little bit of digital marketing experience, a fast learner, someone who is social media savvy and is flexible. Almost everything to learn in digital marketing is available out there — free of cost. Of course, you are not trying to replace experience and expertise — this is your starter pack. As you scale, you hire the expertise
c. 1 Database / Research / CRM multi-tasker — a fresher or an intern who is sharp, fast, and ready to work hard. Someone who can work those spreadsheets, research whatever is needed, compile, and build up your database.
Of course, if you have budgets, then go ahead and hire some more. I would recommend that you:
a. Hire a mix of experienced and fresh talent. That way you can optimize budgets while also bringing in some level of experience and expertise
b. Definitely invest in someone with digital marketing experience — building websites, Search Engine Optimization (SEO), Google Ads — at the very least
3. What activities to do
Marketing really is an ocean — there is sooooo much to do. Here is what I have figured as the best things to do:
a. Invest in a free CRM — on day one
Hubspot offers a free version, so do others I’m sure. So you can get started on your marketing journey without spending a penny, and scale as you grow. Hubspot, for instance, offers a free version, then one edition at $10k, and the next at $50k.
b. Invest in a contact database
I cannot over-emphasize the importance of this. A contact database is marketing‘s lifeblood. Please build this up and ensure that all contacts are recorded properly in the CRM. Databases don't cost that much. Of course, the accuracy of the database you purchase is likely to be in the 60–80% range — but that’s also fine. There are tools like Lusha with free editions that you should use. When you can afford it, invest in LinkedIn sales navigator.
c. Content strategy — ultimate guides + associated blogs
Don’t over-think things here — pick a topic and create a single pillar content piece (ultimate guide or ebook), write blogs on the same topic (make sure they are problem-oriented), and use hyperlinks to connect them up. One ebook per quarter + 1 blog a week is the minimum cadence you need. But there is no compromise on quality — never write for the heck of writing. And that is why you need a dedicated content writer.
Remember that your content should resonate more with customer pain areas, and not about your solution’s features and benefits. Those will follow when you start creating content for engaged audiences (middle of the funnel content). To begin with, focus on education and knowledge sharing, not your solution.
d. Events — save your dollars — don’t waste them on industry events
I think B2B startups need to run their own events. Industry events are really expensive. And it’s surprising how easy running your own event can be once you know how to. In a previous organization, we started from scratch, and were eventually running 4–5 events a month after just a year into the process, and spending only on the venue and food. We generated our own audience, created and promoted our own agenda, used in-house speakers, and invited relevant guest speakers — and surely, we were generating good quality leads through our own events. A typical industry event costs at least $10–15k — you could do 6–7 of your own events in the same budget.
e. Email marketing is alive and kicking
Another reason to invest in a CRM and a database — email marketing. Ok, don’t have crazy expectations about getting high open and high click rates to begin with — this is a journey where you need to experiment and improve. But, it delivers results, provided your messaging and headlines are connecting. You may start with 1 lead a fortnight, but you can and will scale over a period of time.
For companies that are more advanced with this, consider running campaigns using automation tools campaigns.
f. Ensure a steady social media presence
Remember that every B2B buyer is bombarded with content. So the ones that generally stand out are the noisiest / the ones with the most budgets. But don’t be disheartened, because there is another category of companies that stand out — the consistent ones. So as you connect with your buyers through your own events, good content, and your email marketing campaigns. And then round it all up with a regular social media presence. I’d recommend LinkedIn and/or Twitter. On LinkedIn specifically, you need to put in 1 post a day — topics could range from industry pain points, key company announcements, important solutions, etc. Don’t repost 3rd party content — I don't think they really add value. And I personally haven’t seen great responses on paid ads on LinkedIn.
g. Google Ads
If there is one place to spend on, I would recommend Google Ads. But please don’t expect magic — you have to build your brand first, nurture the audiences, and then the leads will come in. I believe that most search traffic is looking for knowledge, and not actively seeking solutions. So share knowledge first, resonate with customer pain points, align messaging, and over time leads will come.
4. What is a realistic budget
From the above list, you should arrive at the following:
a. Staff salaries — 3 pax
b. CRM — free
c. Database — a few thousand dollars
d. Content — zero
e. Events — a few thousand dollars x number of events you want to do
f. Socia media — zero
g. Google ads — whatever you can afford!
5. But who will lead all this?
That’s the toughest one. If someone in the founding team has marketing experience, then great. You could multi-hat with either of the following combos:
- CEO + Marketing
- Head of sales + marketing
- Head of products + marketing
- Head of sales + marketing + product
Multi-hatting works in the early days to connect across some combination of product + sales + marketing. But if you have a headcount budget to hire a head of marketing, then go for it the moment you can. Irrespective, marketing is a very fast-evolving space — reading up on marketing and regular upskilling are key to driving growth.
Concluding remarks
Marketing requires a lot of patience and a lot of experimentation. So be a believer and invest early rather than late. You will get the returns that you seek sooner than later. The right marketing efforts will not only generate leads but also help shape the product-market fit, sharpen messaging and improve customer engagement.
