When Should You Start Marketing a New Business?
Determining when to start marketing a business is one of the first big decisions you’ll make as entrepreneur.
If you just got a new idea for a business, should you start marketing it? Probably not. That seems too early.
What about after 6 months of product development? Is that the best time to start? Probably not. That seems too late.
Finding the right time to start marketing is a critical decision for new business owners. If you start too early, you could end up wasting money and creating demand for a product that isn’t yet ready. But if you wait too long, you may not be able to generate the customer base necessary to generate sustainable revenue for the company.
So when exactly is the “right” time to start marketing a new business?
Before Your Minimum Viable Product
For starters, you’ll definitely want to start marketing the business and your product before the product is ready. Most modern marketing strategies, especially digital strategies like search engine optimization (SEO) and social media marketing, take a long time to develop. If you wait until your product is complete to start marketing, you won’t be able to capitalize on their peak period of growth.
This approach will obviously vary depending on the nature of your business; if you’re running a consulting business, your “product” may be your expertise, and therefore doesn’t require any additional development. Still, it’s good to start marketing early so you can establish brand reputation momentum for your product.
After You’re Able to Accurately Describe Your Product
There’s a lot of give and take in business development. What you outline in your business plan may turn out to be logistically unfeasible, or may conflict with the offerings of a new competitor. Accordingly, you may want to hold off on marketing before you have a full, accurate, and confident idea of what you want to offer. If the nature of your product changes, any money or time you spent on marketing materials before the pivot will essentially be wasted.
Trying to perfect the timing of your initial marketing strategy can be difficult, especially if you have minimal marketing experience. That’s why you need the help of an experienced marketing agency. Contact Quez Media today for more information on how to support your brand!