To run a successful business we all need money coming in and so much so that we turn a profit, but in order to get the money flowing in we need customers. To get customers we have to offer them a product and/or service that an audience requires or desires and to the extent that they would be willing to part with a segment of their own income to pay for it.
So, how do prospective customers even know about you and your offer? The answer is through marketing!
Marketing is the springboard to raise awareness of your business. Sales and marketing go hand in hand and you can’t have one without the other. Selling effectively depends on marketing leads and creating warm, qualified interest. A mixture of quality and volume needed to provide the optimum situation for conversions. But marketing of course needs sales to complete the process and seal the deal. Neither can be ignored and marketing is the first step of the process and even plays a part throughout the life cycle of a customer in terms of repeat sales and preventing a churn of subscription or package.
While marketing does take time, effort, and often at times money. But marketing doesn’t have to be costly or budget blowing in order to be effective and successful. Today we will discuss how to market on a budget so that you still reach success without the stress and minimizing your margins with ridiculous investments. Providing the best return on investment for your situation.
These are a few low cost ways to market for you to try:
1: Promotional Giveaways. Try giving away free samples or novelty items related to your product and/or service or things like magnets or pens with your company logo, name, & all contact info. Also, try running promotional discounts on your products and/or services for grand opening and/or a certain amount of time. These are not overly expensive campaigns but the value it can have and the public relations potential it can deliver will far outweigh the small cost.
2: Social Media. It’s 2018 and we are now on technological overload with all the social channels we have at our disposals to use. Using social media such as Twitter, Facebook, and LinkedIn are phenomenal ways to market your business and its offerings, why? These social media outlets and those alike allows you to reach millions and billions with one click and best of all these outlets are free, so take advantage.
The thing is, you can take it as far as you like. You can literally blow yourself up on social if you choose to, with a controversial or unique twist. The content you produce can really have a huge impact on your marketing and this costs absolutely nothing. You can pay to promote posts, but this is very reasonable and more importantly, extremely powerful outreach.
3: Other Media. Traditional media is relatively inexpensive these days as well mostly to stay competitive due to the technological advances we have now. Some affordable “other media” are placing ads in the phonebook, yellow pages, and even placing a classified ad or ad in your local paper/magazine. Other media that is inexpensive and that can give you a lot of exposure is doing a TV commercial(s)/ads to air only on the local stations for your area.
4: Do your own print marketing materials. Due to software such as Photoshop and Desktop Publishing making and printing your own flyers is very doable and will save you at least hundreds as you won’t have to contract out to a print shop. When doing your own printed marketing materials all you will need is the software, laser printer, and printing paper of choice making this a great low cost way to market and not blow your budget.
5: Have an effective website. Another low cost way to market your products and/or services is through having a website which is aesthetically appealing and engaging. Having a website with a hosting domain is cheap where you will spend the most money, but still keep your costs low is if you have to hire a webmaster.
To have a performing website if you are not tech savvy or you know nothing about building & maintaining a website you will need a webmaster. A webmaster is a company or person you will pay to build your website, add and change content as requested, maintain your website applying any analytical tools or lead generation software which will improve your work flow. What you spend on the webmaster you’ll save in frustration and time if you don’t even know where to begin.
Truthfully with a bit of time and effort you should be more than capable of delivering a website which you can drive traffic to through your social media and also by using content marketing and SEO which are an unbeatable method for cheap marketing with big results potential.
A budget should only be a budget when there is no alternative. All businesses should be looking to invest in order to grow and maximize their situation.