Putting startup on platform that helps attract investors

Kenyan startups can attract investors faster by choosing the right platform to market their brand and engaging with their target audience, evidence shows.

Attracting investors is vital for a startup as they help it with the finance needed to get the product in the market.

Experts say investors need to be convinced that a product is needed by consumers and therefore it will be profitable in the long run.

“Experiential marketing is an example of how a startup can sell its brand. Consumers are overwhelmed with promotions and content marketing, the ecosystem is changing and they want to feel connected to a brand and this can be achieved by engaging with consumers on a personal level and allowing them to experience it,” said Wilkings Fadhili founder and CEO, StartUpNow, a company that supports new innovative enterprises by offering them access to brand management and development, linking them to investors, product development and mentorship.

Jinika Afrika, a Kenyan design house that creates products such as bags, jackets and shirts from denim was able to secure two investors in August last year after four months of marketing its brand online.

It started an online campaign asking its audience to sketch denim designs, which they perfected and created the products which they put on sale. Over 200 people participated and this in turn, attracted three investors, but opted for two.

“Six out of 10 investors want to see if the startup has the ability to connect with its target market. This will give an overview of the startup’s capability in the market. No investor would want to finance a company that they are not sure will do well in the long run,” said Fadhili.

In marketing themselves online, startups ought to consider the platform to engage with their target consumers.

According to Kissmetrics, an analytics and behavioural customer engagement company, each social network is different from the other and how consumers respond to content shared varies on each platform.

“Some of the most popular social networks today include Facebook, Twitter, LinkedIn, Tumblr, Reddit, Pinterest and Instagram. All of them can be great content promotion and community building tools, but they all have unique characteristics,” reported Kissmetrics.

“Facebook, for example, consists of consumers that enjoy content that feature pictures and videos whereas on Twitter consumers prefer links.”
startup Scrin Arts, a game developing company, employs social media ads through Facebook as a strategy to attract users to download its game so that it can launch its marketing campaign to attract investor funding.

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In Kenya, the demographic that uses Facebook cuts across all ages and therefore appeals to a mass market.

Scrin Arts game is called Recce Squad. Players combat terrorists, zombies and aliens among other enemies that have taken over Nairobi. The game, whose beta version was showcased earlier this month at the East Africa Gaming Convention has so far garnered 150 downloads.

“We are waiting for the game to get 500 downloads so as to launch our campaign to attract investor funding. It will be a good starting point to pitch the game to them as it shows that it has potential,” said Kevin Tanyi, the game developer.

Its main monetising strategy is offering advertising space for brands in the game. It has inbuilt billboards which the investors can display their brands in order to increase their awareness and visibility via the game.

Scrin Arts has also embraced word-of-mouth promotion at digital events, informing people about the game. It is also finalising on its website and plans to officially launch the game next month.

“When we get the funding, we plan to conduct campus tours and hold small events from time to time in order to grow our user base and downloads. We are targeting at least ten companies to buy advertising space in the game,” said Tanyi.

– African Laughter