The term ‘marketing’, when googled, is defined as “the action or business of promoting and selling products or services, including market research and advertising.” Embarking on your entrepreneurial journey, you may have felt the need for allocating a certain portion of your budget for marketing to boost sales and gain brand recognition and exposure along with expenditures such as staff salary, premises rent, etc.
Low budget marketing tips that won’t put a dent in your wallet
In order to keep your boat afloat generating revenue for your business, there is no alternative to being known for what you do. These five online and offline low budget marketing tips and secrets that you may implement to maximize your potential and earn more clients against your competitors in the market.
Focus on Your Target Market
You are most likely to succeed in closing more deals and gain further traction when you are focusing on a specific target market or audience that is genuinely interested in your products and services.
Setting goals to sell to all and not to a specified market might backfire. Guide your team to approach businesses or industries that seek your products and services. This is how time and effort are saved in pursuing the right audience yielding better results in the long run.
Show Up in Public Event Networking Events:
Visiting international or local trade shows, conferences, or attending expos meet-ups for entrepreneurs aid in forming one-on-one meetings with potential clients who can help you get your business to the next level.
Social Media Marketing
Strengthen your social media presence by creating business accounts, personal profiles and staying active on most consumer engaging platforms like Facebook, Instagram, Twitter, Linkedin, etc. It goes without saying that with the advent of technology and connectivity, social media brings the whole world together closer to our fingertips. Why not leverage this fact and make your brands’ works known and amplified online to a global audience. Make sure you use hashtags in your posts.
Bill Gates once famously said:
“If your business is not on the internet, it is going to be out of business.”
It should be noted that an adept social media manager will help with the growth of your social media profile. They can do this by using their skills to post the right, relevant and engaging content. You can use freelance platforms to find people with reasonable rates to do the heavy lifting for you. Harness the power of social media to create engaging content that viewers love to watch, interact with and admire.
“Marketing is no longer about the stuff that you make, but about the stories you tell.” — Seth Godin
You can work on posting yourself or hire content writers to post informative write-ups on your website blog about once to thrice a week to cater to your audience’s demand for more info regarding your products and services. Writing and publishing write-ups or columns promoting the product or service in student journals or magazine publications attracts more customers and readers within the industry.
While applying low budget marketing tips or strategies for your startup, build brand recognition in a way that conveys emotions the right way so that people relate to it almost immediately when they see your brand or its logo.
For example, Coca-Cola not only sells coke, but they also sell the happy feeling when sipping the drink. Nike conveys the attitude of power, freedom, and success in their marketing campaigns.
This might seem like the most traditional or old-school method for marketing but still gives 4 times more ROI(return on investment) than any other method. Start off by collecting emailing lists organically targeting specific key businesses or persons in the market rather than just randomly sending to vast genres of tastes.
When people browse your website to consume your content, you can ask them before leaving to provide their email addresses to receive newsletters on topics that they are interested in and what you provide.
Ensure that your outgoing chunks of emails only are delivered to people who are actually interested in your products or in reading your content. Try out A/B Testing and check which system or method in email marketing gives more ROI, as in return on investment.
People are more drawn to visual retreats that precisely explain a topic in detail within a short time frame. Take advantage of this to place short ads in Facebook or in between YouTube videos. In the company’s Youtube channel, having short interviews containing well wishes from industry experts and opinion/endorsements create trust among new people who stumble upon.
Search Engine Optimisation
It is wisely recommended to invest in SEO, to drive more traffic to your website. This way when an individual googles a keyword that you work or associated with, your website page will show at the top of the search results page.
Consumers are more likely to purchase when they observe that others have already bought and given good reviews regarding the consumer experience. You can award your clients further discounts on next purchases when they refer your product to a friend.
News/Media Publication / Conference / Press Release
When releasing a new researched and developed product into the market, holding a media press conference may be a viable option to do as the reach from such events are immense and it has people talking regarding the brand.
Not only how you tell your brands’ story is of paramount importance but how you carry yourself or present yourself as a key person behind the brand also matters. Strive to keep posted on your profiles or timelines articles or topics related to the niche you work on, that way both the brand and you thrive in recognition.
Apply for business awards
Business awards go a long way in differentiating a company from others, keep up the good work on consumer satisfaction with above par before and after sales services or exports. If there are not any awards currently, then you can host your own in the industry, this asserts positivity to get more done.
Lives and Influencers
You can present yourself showcasing yourself and your brand as an interview online, during a launch of an event or product. Participating in insightful webinars not only will enrich your audience but also allows you to discuss important topics and key aspects of your industry.
Ads on tv, newspaper, digital print media
Although the shift from reading newspapers has been going from offline tangible version to online digital versions as time progresses and we are getting news on our mobile devices, placing advertisements on online news portals can get a brand more eyes on it.
Creating Google ‘My Business Account’
Having a Google My Business account for your company gives greater exposure as it can be also found on Google Maps and consumers can easily give great reviews about their experience with your company.
This method of marketing requires creativity & innovation to pull off of a tactic that immediately creates a buzz or stirr in your target market age group.
Useful entities like business cards, company brochures, company profiles, catalogs, complimentary diaries and calendars can be gifted as a token of appreciation with your brand identity engraved in it. Postcards or greetings cards can also be sent as season’s greetings along with other gifts.
Whenever we are choosing to buy something and when a friend or acquaintance tells us they have used that and got a good experience, we are more likely to buy that. A survey shows we are four times more likely to buy when referred to us by a friend. Therefore as firms continue to keep their services and products upgraded, this form of marketing will bring fortune of goodwill.
Writing and publishing write-ups or columns promoting the product or service in student journals or magazine publications attracts more customers and readers within the industry. The simplest approach is to manage an on-site blog, adding new content a few times a week that will help inform and/or entertain your readers in some unique and practical way.
While applying marketing strategies for your startup, build brand recognition in a way that conveys emotions the right way so that people relate to it almost immediately when they see your brand or it’s logo.
Invest in an inexpensive smartphone app with user friendly UI/UX along with a website if your product is based on ICT and this sets you apart from your competitors within the market.
Give away free stickers & t shirts
Marketing is all about visibility. This method may seem underrated but this method has been used by many successful startups like Apple and Reddit.
Remember the Apple logo stickers they used to give out along with iPods and other accessories purchased? T-shirts are an amazing medium for placing ads that keep people guessing on the standard or quality of the brand. Place ads on vehicles like cars and buses and don’t forget bumper stickers.
Set (and track) your marketing KPIs
KPIs (Key Performance Indicators) are those metrics that are used to track the progress made toward the marketing and business goals. If your goal is to acquire more customers and make more money, Be sure to measure your KPIs against conversion rates, and daily or monthly sales.
Sponsoring at college fests, cold calling to potential clients who are interested in your work, using QR codes are a few of the various techniques one can use to market efficiently and effectively.
Hope these low budget marketing tips for startups come in handy when you are deciding on your next marketing budget. Happy marketing!
Adrik Das Adrik Das
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