In order to break through the noise, marketing is your go-to tool. To stay ahead of the market, organizations use cutting edge technologies and digital marketing strategies. The sole objective of most companies is to spiral up their sales or return on investment while spending the least on cost per acquisition.
But when you’re a small enterprise, you may not have the same budget as some of your larger counterparts. Does that mean you just need to wait until you have more money flowing into your business? Of course not! So, how exactly do you do that? How do you help yourself get the best bang for your limited buck?
Drum up customers and market your business without breaking the bank with these low budget ideas:
- REFERRAL MARKETING: Create a system that lets your existing customers and internal employees do the marketing for you. Because let’s face it! Word of mouth is the greatest key to effective marketing. Study says, people are four times more likely to buy a product when it’s referred to them by a friend. Establishing a referral program is a brilliant inexpensive strategy to get your customers talking about your business and bring in more customers and it also reduces your cost per acquisition as well. A trusted referral is the holy grail of advertising. So, why not?
- RADIO as a medium: People still love listening to the in any region. Wiggle your way into a radio guest spot. Also, guess what? With the internet-based niche radio getting popular, there’s a place for everyone. Certain types of companies tend to advertise more on radio like auto dealers, banks, jewellers, salons, and so on. They often provide a phone number, website, or location so that they are reachable. Advertise in short but powerful bursts, consider advertising outside of prime time because they are cost effective, and find out which stations are heard most by your target audience. Hire a creative agency to help you choose between a jingle ad, testimonial ad or a sponsored ad.
- OUTDOOR PROMOTION: If you have a company vehicle, you can brand it with your company logo and information so that whenever it moves around, your services/product is being advertised. Another great option is a tricycle with a backlit panel. Or if your business is located on a main street, use a backlit shopboard for classy effect and promotion! You can also try putting a sidewalk sign outside your company. List a sale or announce a product. People will hopefully stop by and notice.
- CINEMA SLIDES/ADS: In a world where businesses have to pay to play, it can be incredibly amazing how small businesses can benefit from local cinema theatres. You can leverage local cinema slides that permit you to show stills or videos. These are cost-effective and impactful at the same time.
- ESTABLISH SOCIAL MEDIA PRESENCE: Run social media ads basis geo tagging. There are also plenty of ways to live stream events like a behind-the-scenes sneak peak of a new product, covering a local event live or instructional videos. You need to engage with your followers on social media to market your business when the budget is low. You can share product posts, updates of your brand, or give out meaningful information to your followers. The intent is to make your followers feel valued and engage with them so that they convert into buyers. While we are talking about social media presence, we can’t ignore the messaging app WhatsApp. Apart from rapidly growing user base, WhatsApp offers personalization and authenticity. Upload product posts as statuses, create a business profile of your brand and share product catalogues, run campaigns within your group to keep customers engaged. As a small business, you can get your customers to take selfies using your products and send them. In return, you can offer special discount offers and later acquire relevant contacts and grow your business. Study says brand follow ups on WhatsApp gets you 40% more response than phone calls. How cool is that?
- PRINTED COLLATERALS: Great looking printed collaterals like brochures, pamphlets, leaflets are a great offering in the list of low-cost marketing avenues. The first impression of a printed communication can make or break your business. So, make sure you have a professional branding agency doing the job for you. Also, you must get creative about where you want to leave your printed material; obviously where your customers might be.
- NETWORKING: For businesses with budget constraints, networking is a great marketing tool. Attend networking events to get a direct access to a room full of potential prospects and influential people relevant to your business. You can join industry specific networking groups, which are often run by the professional associations you may belong to. Reconnect with past colleagues or even join virtual networking groups or events.
When it comes to maximizing benefits, experience goes a long way in helping you do a lot with a smaller budget. That’s why some small businesses decide to partner with an experienced branding agency that can help them get more done with constrained budget.
Let us help you through your branding ideas. You can write to us on info@podssolutions.com or call us on 9867299977.