Bootstrap Marketing Strategies
TechCrunch is an example of a company utilizing bootstrap marketing strategies. The company was founded in 2005 by two entrepreneurs namely; Mike Arrington and Keith Teare. The business was started on the most basic infrastructure but later became an epitome of technology because it transformed blogging into an excellent work of journalism. The success of the company is attributed to bootstrapping marketing strategies achieved by putting out quality new content and stories in the field of technology and entrepreneurship. Entrepreneurs assert that bootstrapping is one key element and part of history of nearly all successful companies (Alyssa, 2016). Further, studies reveal that in most of successful businesses, it is entirely bootstrapping that assists in start-up and growth before injecting capital from external funding (Masters, 2014).
The company utilizes several strategies such as focusing on target online customers, growing social media presence, engaging community outreach[U1] , and creation of simple videos to demonstrate brand. These strategies have created a competitive edge for the business in several ways. The business is operating on a lean model because bootstrapping ensures that an entrepreneur understands how to gain more markets and increase profitability. Next, the business relies on better and prompt decision-making because it operates without external investors, allowing the business to move in the right direction according to vision and values of the founders. Further, the business has attracted worthy investors because banks and other venture companies are poised to fund businesses that have taken off. Therefore, the business is boasting of calculated growth. Finally, TechCrunch boasts of valuable skills and knowledge of founders. This is critical in providing quality content that wades off competition from other similar businesses thereby creating a competitive edge for growth.
References
Alyssa Gregory. (2016). Bootstrap marketing techniques every small business owner should use:
tips for promoting your small business with a small budget. The Balance. Available at: https://www.thebalance.com/promoting-business-small-budget-2951734. Accessed February 19, 2018.
Masters David. (2014). A brief introduction to bootstrapping your marketing. EnvatoTuts.
Available at: https://business.tutsplus.com/articles/a-brief-introduction-to-bootstrapping-your-marketing–cms-22758. Accessed February 19, 2018.
[U1]Oxford comma is necessary