5 Striking Ways to Market Your Small Business on Budget
Marketing is the lifeblood for businesses that ensures a steady flow of clients, customers, and revenue. It is also true that small businesses usually run on a tight budget, especially when they are startup and need some time to get the return on investment. While big companies have all the resources to aggressively market their business, small and medium companies have a similar need but with a modest earmark.
However, the good news is effective marketing doesn’t need you to put all your eggs in one basket and spend a fortune. All it takes is simple, smart strategies in place and you are in the game. Today, the way consumers are connecting with brands, absorbing new products and services, and making purchasing decisions is quite different than before. So you need to make most of this opportunity and get your message out to your audiences.
Here are some highly inexpensive yet solid ways to market your small business:
Use the power of social media
Thanks to the advancements in technology and new communication channels, you can reach your audiences more effectively. For that, you have to improve your online presence and use social media. More and more people are spending their time on social media, so it’s highly likely that the majority of your target audience can be found there. Whether it’s Facebook, Instagram, Twitter, or LinkedIn, social media is a free-to-cheap way to get the word out about your small business. Even if you have to spend money on social media advertising, it is still a good proposition because it will provide value to your money. Your business will come in front of a lot of potential customers. Social media also allows you to provide better customer service. As a result, you get lead generation, brand awareness, and customer engagement all at the same time.
Post relevant and informative content
Having a social media presence is just not good enough, you need something to give your audience that makes your business stand apart from the rest. There’s no better way to do this than providing highly relevant and informative content to your users. Before any new customer could enter your sales funnel, they want to understand you, engage with you, and trust you. Giving them useful content does just that for you. Creating a business blog will be a good way to start with, which will attract readers and viewers to your site. The best type of content is the one that increases your credibility in your target audience. It can include, informative videos, tutorials, infographics, how-to articles, funny videos, white papers, industry statistics, etc. In addition to being consistent, you need to publish your content on more than just your blog.
Attend events and create a buzz
As a small business owner, one of the main apprehensions in your mind is how to gain more exposure. It takes a lot of time, effort, and creativity to get new customers, especially when you have allocated a limited budget for your marketing activities. Thus promoting your business at events is a highly effective way to get the exposure. These events can range from large trade shows to local community festivals to sports events. As a matter of fact, a well-executed event attended by a sizeable audience would be a great source of publicity and customer acquisition for you.
However, you cannot hop event after event without carefully putting your thought on it. You have to first identify what type of events are most suited to promote your product or service. Use the internet, contact local councils and art galleries, read newspapers, ask others, etc. Then you have to plan how you are going to display and promote your products. For example, displaying custom water bottle labels with your company logo can be a great way to create a buzz around your business. An important thing to note, however, is you have to follow up with the contacts you have made during the event.
Incorporate customer referral programs
Every marketer knows that word of mouth is one of the most persuasive marketing tools. So referrals make it easier to get in the door with new customers. If you aren’t asking for them, you are missing opportunities. It can be an incredibly effective way to generate more business while encouraging loyalty from your customer base. It is all about turning your prospects into your brand advocates. So don’t hesitate to ask your happy customers to spread the word to family and friends. An excellent way to make them your promoters is to offer them incentives, perks, gifts, coupons, and discounts. Moreover, many people love to support their local businesses because of acquaintance, so chances are they wouldn’t disappoint you.
Use guerilla marketing
Don’t underestimate the efficacy and effectiveness of guerilla marketing. It positions your brand pretty well and allows you to engage with your audience in a way they’ll likely be receptive to. All it requires of you is to use creativity and out-of-the-box thinking. As a result, it will help your brand stand out in the best possible way. It is probably the best friend of cash-strapped entrepreneurs, so to speak. The idea behind using guerilla marketing is to use the knowledge of your audience and captivate them in such a way that they can connect with your brand fascinatingly.
Some of the most effective methods are:
- Setting up artwork in high-traffic areas.
- Displaying punch lines mentioning your brand at prime locations.
- Projecting funny videos onto large outdoor walls.
- Stickers make for a cool, urban statement and can be used in a variety of ways.
- Organize contests to create interesting contents.
As we mentioned, marketing is an essential element for your business to get exposure and attract as many customers as possible. Great marketing doesn’t necessarily have to be expensive, but as long as you have a clear message and creative skills, you can powerfully put your message across to your prospects.