Increasing Market Share in a Service-Based Start-Up Through the Implementation of IT Tools, Within the Scope of External Communication

Abstract

In the modern business landscape, startups have stiff competition when looking to gain market share. The emergence of low-cost IT tools, however, offers startup companies a way to efficiently compete with competitors for first time customers. This paper will hope to document an efficient combination of practices and tools which a startup company can implement to increase its customer base. These practices and tools are divided into two categories: increasing company visibility, and increasing customer conversions. When looking to increase company visibility, emerging tools have the potential to level the playing field in the oversaturated world of modern social media marketing. To present business owners with efficient methods of converting marketing-induced visibility into market share, the paper will explore innovative tools which allow all business owners to create a web application for their customers to interact with. The paper also hopes to describe the most important tactics to use when designing web applications, for this aim. To test the effectiveness of the approaches described in increasing market share, they will be tested in the music production startup, YoungWorld Sp. z o.o., This paper suggests revisiting this case of YoungWorld Sp. z o.o. in 18 months, in order to document and analyze the effects of the approaches’ implementation on increasing market share.