As a startup, burn rate is an important factor. How much money do we have and how long will it last? To make the money last as long as possible it is always a matter of keeping costs to a minimum. Cost, unfortunately, ends up being one of the most important factors when selecting services for infrastructure, support, marketing and customer management. CRM and marketing automation tools are one of the biggest investments, as the price point starts high compared to most other services. As a startup, why should you spend a substantial amount of a constantly shrinking pot of money, by investing it in CRM and marketing automation tools?
Well, here are my thoughts on the matter. As a SaaS startup offering a video API for developers, our main objective is to gain developer traction. We decided not to focus on direct sales and rather looked at marketing automation and growth hacking. We aim to be active on all relevant social media channels, create relevant content on our blog and spend a lot of time on SEO to increase page rank to achieve organic growth. To begin with, we looked at how we should track visitors, conversion rates and user behaviour on our website. This to be able to target our visitors and users and to have a good starting point for measuring the effects of our marketing efforts.
Before we launched the first version of our video API in the end of November last year (article about our launch) we decided to invest in Hubspot Sales and Marketing. After using their platform for three months, we think these are the five most important reasons you should invest in a marketing automation platform if you are running a startup:
Gamification - seeing the results of what you do in the stats, makes everything more fun and it is easier to get everyone involved in creating content and work on improvements.
SEO - by using the keywords tool and page performance we can constantly improve our website and see the changes from day to day by measuring our keyword ranking and monitor our competitors.
User behaviour - automatic tracking of user behaviour on our website lets us target visitors more efficiently. We can integrate user behaviour in our own video API with Hubspot workflows to send targeted emails. If necessary we can take a deep dive into user patterns. What pages have they visited? Are they opening our emails?
Content optimization and monitoring - we can easily optimize our content in regards to headlines, paragraph length, keywords, links, campaigns and images based on best practices. By following up on click rates and conversion rates we know what should be our focus in terms of types of content and topics that our contacts prefer.
Social monitoring - share updates and new content to multiple social channels. We can also monitor the click rate and conversion on each separate post. With the monitoring tool we are able to respond to direct messages and quickly find out what activities drive the most engagement.
Today it is difficult to imagine how we would be able to measure, monitor and improve our marketing efforts without Hubspot. As a startup with limited time and resources, guessing what works and what doesn't is just not an option! We would definitely have missed out on a lot of opportunities and it would have taken more time to get to where we are now without Hubspot. We still have a long way to go, but thanks to Hubspot, we are on the right path. Reducing the cost by purchasing several individual systems could have been possible, but we would have spent too much time configuring and switching between them. Now we have the comfort of having everything related to CRM, marketing and sales in one system. The investment was worth it and we now have more time to focus on developing new features and improving our product!
Connecting content providers, distributors and TV operators. The easiest way to import, manage and give access to video assets including metadata, images, and subtitles using the SYNQ Video API.