Limited budget was once a bane but not now. The landscape of marketing has gone a complete transformation over the years making it possible for even small businesses to dream big. Any company irrespective of the size and scale can think of marketing itself to the world without needing lots of money. Thanks to advancements in technology and emergence of new avenues for promotion, it has gone amazingly cost-effective to market a business on a limited budget.
However, budget or lack of it is never a major determinant when it comes to marketing a business to the world. The real difference is caused by ideas, or lack of it. A bit of planning and some imagination can help a business go long way in terms of taking their brand value, products and services to the world, even without requiring experts by their side. So, don’t let budget come in the way to market your business ever.
Here are some of powerful ways to market your business when the budget is limited –
- Use Social Media
Social media has become a boon for businesses to market themselves in a cost-effective manner. Most brands these days utilize one or another social platform such as Facebook, Instagram, Twitter, YouTube, LinkedIn etc. to connect with their audience in an easy manner. With user-base of social sites going into millions, it has become very advantageous for brands to leverage their reach and server their marketing goals easily.
A business can create a social media plan, create a page for itself, invite users to join, share posts about business and then hope to reach to a wider audience without investing much money. The products and services posted on social networks can be seen by customers from across the world and this is how the best of marketing becomes a reality even when the budget is low.
- Create engaging content
A lot of small businesses now know the value of promoting themselves by engaging content. They are writing blogs and informational posts and publishing them across channels to boost brand visibility. Well-written articles can help get free advertising and also help create positive word of mouth. The focus should be on creating content that informs, educates, entertains and enlightens users to convert them into customers.
A business can write content to clear doubts of users searching for similar products, can create how-to topics to detail the functionality or cover any aspect that genuinely interests users. A blog can be used to give out information of products, services while articles and magazine posts can list out other business aspects in detail. Plus, content publishing is cheap and there are many channels waiting for quality posts.
- Use Cross-Promotion or Buddy Marketing
A lot of businesses don’t mind in utilizing the reach of buddy marketing where they join up with another business/s and pool resources for marketing purpose. This cross-promotion helps amplify the reach and effect of a business even without having to spend much money. With this type of marketing, the focus is to help each other through various means to reach to more customers and increase sales and revenues.
With buddy marketing, brands can reach to a whole new set of prospects or potential customers and amplify the impact of the business. Two or more businesses can join hand to do promotions together, run shared ads, contests or events to reach to more customers with less budget. This technique is quite effective, and any business can leverage it to market itself better.
- Use contests and giveaways
Free gifts always work as everyone loves them. Brands often give away free items to create goodwill and to build brand. Giveaways have the potential to build brand awareness by letting the business connect with potential customers easily. And when budget is low, a business can choose items with care like e-books etc to create a buzz in the market.
Similarly, brands can run contents on social platforms to create awareness and gain attention of potential customers. Running a contest is a good way to get active participation of users and then look to convert them into prospects.
- Benefit from referral programs
The more a business adds well-wishers to its list, the more chances it has at success. This is where referral programs can do wonder in true sense as brands can use them to boost sales easily. With such programs, brands can enter into agreement with influential people either in the real world or social platform to marker their business for monetary gains.
Both the parties can agree on a percentage basis where the promoter will content to create prospects in lieu of money. Most top brands use referral programs as being an event agency should not deter you from benefitting from its reach and effectiveness in true sense.