7 Ways to Market Your Business Economically
According to Forbes, marketing is the key element that drives your business towards success. Unless you play by the right marketing strategies, your business will fail to attract enough audiences.
But is marketing as costly as people say it is? A report by Hubspot says that limited budget is the third biggest hurdle companies cope with in running marketing campaigns. However, we have come up with seven different ways that allow you to market your brand under a shoestring budget.
- Make a Presence on Social Media
Social media has become a popular marketing tool owing to its massive user penetration. With over 67% of the total population of the US using social media, the trend actively shows how much potential for marketing the network carries.
You just have to market your business on all the popular social media platforms, including; Facebook, Instagram, Twitter, Pinterest, Linked In, Google Plus, and Reddit.
Grab people’s attention, interact with them and let them know what you do and what makes your business unique. In short, avail every opportunity you get to cast your marketing pitch in front of the audience.
- Avail Paid Social Media Advertising
Everybody knows how expensive traditional media channels can be for advertising. But when you have a cheaper, more enhanced, and targeted version of advertising in your pocket, why use the conventional and expensive methods.
From start-ups to established companies, every business is investing in paid social media marketing strategies. According to a study, about $47.9 billion have been spent on social media advertising in 2021 in the US alone.
A diversified range of social media marketing agencies provides audience-specific advertisement services at surprisingly lower rates. Never leave out social media marketing methods to promote your business, regardless of how tight your budget is.
- Offer Coupons and Giveaways
When it comes to earning a reputation in the hearts of your audiences, why not start with giving out gifts and discount coupons? Everyone loves it! It might look like a costlier way of promoting your brand compared to others; still, it is characterized as one of the most influential forms of marketing.
Making your customer feel valued would definitely push them to shop with you again, allowing you to build a loyal customer base. It is advised that as a business owner, you should hold contests every once in a while through your social media outlet and give money coupons, giveaway products, and other exciting presents to keep the audience excited.
- Create Attractive Infographics
Despite it being an old way of marketing products, marketing through infographics is still being used widely due to its effectiveness. Compared to those boring long ads, displaying your market data in colorful and attractive imagery directly impacts the audience.
Companies that include their commercial statistics in their marketing campaigns appear more appealing, credible, and trustworthy in the public’s eyes. Infographics are considered information powerhouses allowing your audience to easily understand the required information about your business.
- Guerrilla Marketing
With an enhanced imagination and little creativity, you can draw out attractive advertising posters on your own. This type of marketing is normally termed guerrilla marketing. Most start-ups with lower marketing budgets tend to apply guerrilla advertising strategies.
You can invent countless possibilities with guerrilla marketing; draw attractive drawings on abandoned walls, or you can deploy undercover agents who market your product to the public by appearing as one of them (many people tend to act on friendly suggestions when buying things rather than being compelled by marketing ads.)
- Car Wraps
Your adverts on the move! Sounds convenient, right? Well, it is. Having a moving advertising banner promoting your brand’s awareness wherever it goes is another ingenious marketing method one could think of. Not only does it save cost, but it also expands your brand’s reach manifolds.
Simply wrap your sedan car or pickup truck with customized custom car decals carrying your brand’s name and logo, and there you are with a locomotive advert. Car wraps help make more people familiar with your brand, making it an effective yet cheap advertising method.
- Collaborate with Other Businesses
If you have a tight marketing budget for conducting proper advertising campaigns, you can rely on other businesses complementary to yours. Be it a manufacturer, dealer, or vendor; you can partner up with whom you share a similar audience.
One simple approach to collaboration is that you can exchange customer listings with your fellow business partner with an offer to pay a portion of profits on every sale made on both sides to the other party, thus creating a win-win situation for both.
With your ingenuity and imagination, you can easily and effectively promote your brand even with a smaller budget. It is also equally important to give your business enough time to see profitable changes. And finally, do keep in mind that it takes a lot of patience and time before you finally become successful in your business. So be patient, and try your best!