How to Grow Your Startup when You Have Tight Budget
One thing almost everyone knows is that without funding or money business will not grow and even it will not start. But the misconception is that one needs a large amount of money to promote their business; if not they will not get any significant profit. How to grow your startup while having little budget can be solved.
There are actually a lot of business expansion tools, strategies, digital marketing tricks, promotional ways that are actually low-cost and most of them are all about brainstorming.
1. Find your budget freelancer
Simply, if you want to hire a marketing agency for your business promotion it will cost you a large amount of money. You should make yourself clear about in which way you want to promote your business and then find a suitable freelancer for that job; so that it will cost you less. Yes, with freelancers you will find some problems like they will only work on a contract basis and with a limited time that you contracted them for. But believe me they will be a lot more cost-effective.
For example, suppose you need a video editor for your marketing promotions. So, you don’t know how many videos you are going to make or you will need a video editor for a long period of time. Then make it simple. Find a freelancer video edit and you can pay him per work basis. It should be cheap because as a newborn startup you should save money and use it in other sectors.
2. Manage digital marketing
You should create your own content blog posts, podcasts, or videos for your digital marketing campaign.
Yes, you can also hire a team or an expert freelancer for that but your tight budget might surpass that. Nowadays almost every business, every brand wants to make their place in the digital marketplace and wants to make their impact on social media. So, for your business you absolutely need some sort of content to drive traffic to your website or in your social media page. Engaging podcast, video related to your business, eye catchy graphic illustration of your products can surely help your viewers to check out more of your business.
3. keeping track on your customers
Customers are the lifeblood of a business. Because they’re the ones who will purchase your products, leave reviews, and talk about you on social media. So, what you need to make sure that they are well tracked by you. What positive or negative or even what they are suggesting to you. Make sure that you use reliable freelance job sites to look for new clients.
As a newborn startup, having too little of a budget to find new customers is so obvious so what you should do is focus on your existing customers by giving them the best experience possible. Give your customers a reason to come back. So, always answer their questions, be honest and keep patience.
4. Your employees are part of your family
Your regular or loyal customers always support your business and just like that your employees will always give their best shot for you when they’re treated well and you make your office environment as family.
Think when someone asks your employee about who they work for, and they respond negatively, that surely going to create a negative impact for business. Always try to keep your employees happy and energetic by giving them benefits when they work on holidays, give them flexible work hours and try to give them a bonus whenever you achieve great profit. Simple, treat your employees like they are your best customers.
5. Use your Logo
Fighting with a tight budget might create problems for you to go for traditional advertisements like billboards or paid advertisements in newspapers or on television.
So, make other ways for advertisements. While roaming around the city, we see cars and trucks wrapped with a company logo. So, if you and your employees have a car, ask them to put the company logo in their car, you can make t-shirts with your company logo and give people around, business cards, pens, and anywhere else that could draw eyes can be a cheaper advertisement for your company.
6. Social media Influencers
Social media Influencer marketing is another way you can go for a very cheap amount of money. There is a misconception that influencer marketing is an expensive prospect. But it will be only expensive when you’re looking for celebrities who have millions of followers.
But the truth is there are plenty of influencers with 50K followers or less and they will promote your business with a little amount of money and sometimes with a free product.
Those little influencers work better than those of high profile celebrities because people buy from people they trust, they know and they are familiar with. In most of the cases influencers with lesser amount of followers can bring more customers because they have a certain amount of trustable followers who generally come from the same community. That is why influencer marketing is so powerful because nowadays al,ost all of us are dependent on it.
7. Make new strategies for bringing new customers
Cold calling and emailing is still an effective way to find your new customers. Communicating with other companies and people who generally buy your product is a great way to bring new customers. With an attractive presentation and set up an appointment with them. Be positive and passionate for your business and you can gain success.
8. Youtube promotion
I am not telling you to go for those paid advertisements you see watching funny youtube content or songs.
Nowadays many youtube channels use sponsors and while showing their content they will promote your business for a short period of time like 10 to 3 seconds. But believe me that will create a greater impact. So, you can find youtube channels who provide good contents and more sone subscribers then go sponsor them. It will cost you very less and it can bring you more customers.
So, how to grow your startup when you are facing a tight budget is a good question.
These business expansion strategies can help you to expand your business or promote it when you are struggling with a low budget. But you should always be focused on and keep brainstorming to make new strategies for yourself.
Abdullah Al Soad
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