They're competing with the major brands and sites that consumers visit on a regular basis for entertainment and news. It's in that sense that expanding such a business can prove to be tough. This article aims to solve this particular issue, with four distinct solutions that'll help expand your entertainment start-up to reach new highs. The name of the game in the entertainment industry is exposure and killer content, and that's exactly what'll dictate the tips you'll read below.
Collaborate and partner up
Consumers who are into the entertainment industry - be that films, music or celebrity news - are aware of many brands and information providers out there. They're willing to take the advice of a brand that they trust in order to find more content that they enjoy. Therefore, setting up partnerships is an excellent way to harness the power of other brands that do something slightly different from what you do. You'll enjoy the mutual benefits of cross-promotion while at the same time anchoring yourself and your company's reputation within that of another respected and trusted provider. Collaborative projects are particularly beneficial for creative industries, as by sharing ideas, more imaginative solutions usually arise.
Take some risks
Some companies choose to take risks in their marketing strategy. For instance, the Pepsi advert, much-derided, from 2017 fell rather flat on consumers who didn't appreciate its hijacking of the Black Lives Matter movement. Some risks do pay off though, as this article put together by Hiscox explains. You just need to be strategic about the risks that you choose to take, ensuring at all times that you're hedging your bets on a different strategy that'll cut your losses should things backfire on you. From expansion tactics to brand awareness strategies, risk-taking can pay huge dividends for brave and agile start-ups.
Market strategically
It's well known that start-ups struggle to finance the most effective of marketing campaigns. Part of the reason is that they are unable to afford the specialist outsourced help that's available at various expert marketing companies. Instead, they must rely on more cost-effective solutions, which means that they are required to find a high ROI on small-scale initiatives, like social media marketing, to get them off the ground. With the right team and the right strategy, though, your company can still penetrate a saturated entertainment industry with style and panache.
Think outside the box
This tip is not synonymous with risk-taking. Actually, it's more about creativity - something a business inside the entertainment industry should not be short of. Whether it's in your writing style, your image selection, your web design or your brand identity, thinking outside the box is how other creatively-minded consumers can be drawn to your brand. Think creatively about how you can add character and personality to your brand in order to maintain and grow your audience and your profits. Have a brainstorm with your senior team to attempt to find ways to do this that'll benefit your company's profile as a whole.
With these four tips, you'll be able to reach new heights in your entertainment industry start-up company.
