Marketing Techniques Every Business Can Apply Even With Small Budget
Advertisement has a direct relationship with sales. It acts as a constant reminder that there is a product/service specially made for the customers. They should definitely purchase it. Perhaps that’s the reason why the USA Small Business Administration suggests that companies use a minimum of 7 to 8% of their revenue for marketing and advertising.
Surviving in this highly competitive industry is not an easy game. Every day entrepreneurs have to think about new plans and strategies to stay ahead of competitors and enhance sales. It goes without saying that most of these plans include a factor named “Budget.” It might be just one of the many factors, but it is a critical factor and is the backbone of every plan and strategy.
Many organizations and brands understand this point, and that’s why they spend millions/billions of dollars. Hey! Do you have a doubt about that? Okay! Just take a look at the following statistics, and your doubt will be resolved!
• The U.S. advertisers and marketers spent around 50 million dollars on digital advertising in the year 2018.
• According to the report of Statista, the money spent on mobile marketing is expected to reach 240 billion dollars by the end of 2022.
That’s a considerable sum of money! Yes, it is also true that the benefit availed from marketing and advertising is also immense. But, if we consider the newbie and small businesses, they cannot spend such a high amount on marketing only.
They need to focus on money as well as marketing to help their business grow. We understand this factor! That’s why we have listed down a few low-budget marketing ideas that give effective results. So, without any further ado, let’s get right into it!
Social media engagement
You might agree with us that social media has become every person's best friend. Be it a high school student or an entrepreneur like you. Social media platforms keep every person entertained and help discover something new. Not to forget, you don’t have to pay any money to get access to its content. Just opening your account is enough.
That’s why it is an incredible option for companies to engage with the target audiences. You can post quality content that makes people click on the profile to learn more about the business. Once the target customers get to know you, it creates an opportunity for you to communicate with them and show them how your product/service can help them.
Besides that, several features such as polls, contests/ quiz, videos, or live sessions on these platforms can help you stay connected with the customers.
There has been a shift in customer behavior from the past 4-5 years. In old times, when a person needs something, they’ll just purchase it without paying much attention to the ingredients used or the health concerns associated with it. But now, people have become wise.
Before using any product or service, they do proper research about it. Only when they are fully satisfied that it is eco-friendly and is made organically, they make the purchase. In simple terms, now customers seek information that is helpful for them. They have become more observant and curious to learn about things.
So, you can benefit their curiosity and provide them valuable information by hosting a webinar. There are several free platforms available on the internet that you can use to start a webinar and promote your company using it. Moreover, if you provide quality information, it’ll help you gain people's trust, eventually improving your brand image.
Have you heard the phrase “Old is Gold!”? Well, that’s precisely what press releases are in the marketing world. It is one of the tools that are cheap yet can help any organization become famous.
Yes, you read it correctly! Press releases are not only used for making new announcements or launching a new product. It can also be used to make the company talk of the towns and create a positive public image. As it is issued by the corporation itself, they can use it for portraying all the good works of the company.
Nonetheless, writing a concise and well-informing press release is not enough. It must be distributed properly to avail the maximum benefit. If you want to know more about the distribution of press releases, you can see options here and get an actual ROI. It’ll help your company receive full exposure among several media outlets. Ultimately, helping in more brand recognition.
Sometimes unconventional methods of marketing have a tremendous impact on the mind of the target audience. And such an unconventional method is known as guerrilla marketing. In this technique, brands stay subtle with their promotions, i.e., they promote brands without actually communicating with the customers.
For instance: Suppose you have a chips company and you want people to know about it. You can paint the mall's escalators to create a picture of teenagers eating chips, with chips on the stairs and teenagers at the end of escalators. It will be unique for people so that they will pay attention to this.
It doesn’t cost anything but a creative and "out-of-the-box idea." As guerrilla marketing is not a direct promotion of the product or service, you don’t have to use the money for repeats of the advertisement or spending cash on evaluating its results.
Google my business
Needless to say that for every business, it is essential to have a website. It helps the target customers to learn about you. Especially when they search for anything similar to your product or service and your company websites show up. It can happen in two ways:
• Improve the SEO
• Create a Google my business account.
Improving SEO is a big topic, so we’ll discuss it in another article. As for now, creating a business account on Google will help you come up on the first page of SERPs in every local search. Along with improving brand awareness and sales.To conclude!
These are the marketing ideas that can help grow your business without burdening your pockets. So you should give them a try and believe us, you will see the positive results yourself.