The competition among small businesses is high. So when opening a new business, you’ll have a long checklist of must-do tasks. In order to compete effectively, business owners need to be ready to give marketing all it takes.
Honestly, no matter how outstanding the product of a particular business is, without getting it into the view of the target customer, the organization will hardly make any profit. Marketing is a core part of any business operation. It can make the difference between a thriving business and a struggling one.
There are various forms of marketing available to businesses today. With the advent and advances in technology, the forms of marketing have also evolved over the years. Thus, identifying some of the best forms of marketing that suit your business is important for success.
The following are five low-budget marketing strategies that can help small businesses increase sales and generate referrals, ultimately helping you build your cash flow, while spending very little.
1. Directory Marketing
It shouldn’t be surprising that online marketing is becoming more effective each and every day. A part of this is due to a little something called directory marketing. Companies like Yelp or Google Review rely heavily on digital marketing. Both, for example, use a database of information where viewers from all across the globe can search for whatever business they desire. They could also get an endless amount of information about whatever business or service they are after.
Additionally, the directory site also provides an opportunity for users to read other users’ reviews on their experience with a certain firm and/or organization. Having a presence on both sites can be a feather in your company’s cap. Business owners could boost their low-budget marketing strategies through a strong presence on online directories like Google Review, and Yelp.
2. Content Marketing
Content marketing takes on many different forms, but none require significant investment. 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.
Infographics, videos, and podcasts all belong to the content-marketing category as well. What’s the reason? All these content media have the power to improve your brand reputation, increase your inbound traffic and complement the multiple other strategies you draw from this list (as you’ll know). So if you haven’t already, consider starting up a blog or posting on social media. Experts within the marketing industry agree that common marketing maxim is now truer than ever.
3. Email Marketing
Did you know about one-third of Americans check their email every single day and an additional 39 percent check their email more than three times a day? That being said, email marketing remains to be one of the best low-budget marketing strategies around, with some sources claiming a return on investment of around 400 percent or more in some cases. Although it’s still up for debate, many people believe that email marketing is the next best idea in digital marketing.
On one hand, email marketing offers high open rates, quick response, and robust customer feedback. On the other hand, however, understanding the rules to follow and being mindful of customers’ needs are important for a successful email marketing experience. If done correctly, this type of marketing system can be a powerful component of your digital marketing strategy.
As long as you have a strong list, and a steady but noninvasive stream of outgoing email blasts, you should be able to see a large impact and a significant return in revenue.
4. Social Marketing
The use of social media has opened up various opportunities and possibilities for businesses to expand their operations and to boost their growth.
The use of social media as a marketing strategy is an undeniable force in the world today. In fact, social media has become the largest gathering of people of all ages, tribes, and colors. What other avenue do you have to take your business to their presence?
A Facebook fan page, a verified Twitter account, Instagram, etc. are all social media platforms that your business could embrace for effective marketing. Through a social media platform, you could do almost whatever you want such as create awareness for your company, offer different promotions, and share awesome news and discoveries. Bear in mind that it doesn’t just end with creating an account. In other words, being active and keeping up with activities are also essential for the success of your business.
5. Visual Marketing
What began around 3000 BC when the Mesopotamians used round cylinders to press onto clay has now transitioned into digital print.
Generally speaking, when you can visually see someone, you form a quick opinion about their authenticity and credibility. The same can be said about a business. To put it a different way, when consumers see your company, they will quickly form an opinion about it. That’s why business owners should consider creating some sort of welcome video on their business homepage so customers immediately get to meet the human behind the brand. Don’t hide behind a corporate facade. Get real.
Communicate your understanding of the story that your customers want to know, not the story of what you sell. It’s also helpful to explain through a video how you can help them solve problems through your product or service offerings. The video is a low-cost method to introduce yourself. Just make sure to have excellent sound quality because a great video with awful sound sends the wrong impression to viewers.
In the long run, while a particular marketing strategy might not produce much on the onset, it is, however, a guaranteed way to help increase awareness about the availability, uses, and benefits throughout your company.
Thanks for the read! Did I miss anything vital? What are some other low-budgeting things companies should consider when marketing their product? Be sure to leave a comment below.
Herman Davis loves taking advantage of the hot and sunny weather outside. If you can’t catch him online, you might be able to catch him out playing football with friends or cheering on the Boise State Broncos. Follow him on Twitter at @Davis241. Thanks!