What does quality product or service mean without effective marketing? No one will know about a product or service if the business does not do good marketing. If you’re familiar in the SME and start-up scene, you’ll know that you’ll need low-budget marketing ideas. It’s important for many companies to do marketing if they want to grow and scale up as they know that spending on promotions will give them good return when sales have increased.
However, do not be discouraged if your business only has a limited budget for marketing. Here are some low-budget marketing ideas that can help you get the best cost efficiency for your marketing.
1. Learn How to Ask for Referrals
You are likely to get something if you ask for it.
Referrals are very important in marketing especially in society where people have more trust in referrals from friends or someone they trust.
2. Hold Free Workshops or Classes
Most people like to learn new things so there is no harm in holding workshops or classes which are related to your products/ services.
You can do it by going to colleges, schools or even online.
For instance, General Assembly (GA) holds free workshop every week.
3. Create a Brochure
One of the oldest types of marketing is still one of the most reliable. Brochures give potential customers with something they can take away in a limited amount of time.
Put an attractive call to action sentence on your brochure and encourage potential customers to contact you or buy your product.
4. Involve the Media
Your product or brand can skyrocket in an instant with the help of the media, including the social media.
Tell the media about your company events, such as grand openings or charity events, so more people will know about your brand.
5. Create a Website
Digital marketing is no longer a new concept. If your small business still does not have an official website, then create one now. Your website needs to include various information such as the who, what, where and why of your business.
This provides an opportunity for your website to appear in search results on the web.
6. Create a Blog
Blogging can create a bigger market for your products or services if you do it right.
You can use article writing services for the content and upload quality articles regularly for them to be shared on social media.
7. Involve the Customers
After creating a website, blog or social media account, it is time to foster customer involvement.
Reply to every customer’s comment and respond to criticism, suggestions or feedbacks.
8. Develop a Social Media Plan
Social media marketing is not only a low budget marketing idea, but it can be completely free! Social media platforms have become the top channel of marketing for companies and businesses around the world.
Your presence on social media can be very effective in boosting the popularity of a product at low cost.
9. Take advantage of LinkedIn
Social media platform like LinkedIn is now the way every professional can connect with each other. You can use it to connect with potential clients or customers.
10. Invest in Social Media Ads
You can’t talk about low budget marketing idea without brining in social media ads. Social Media ads is actually your safest bet on getting returns. What’s best is you can always work around your budget even if they’re low. You can plan for yourself how much money you want to invest for advertising costs and how long you want to run your ad.
Social media platforms like Facebook, Twitter or Instagram, offer inexpensive but effective forms of advertising.
11. Become a Radio Guest
Radio will always exist and it is still an effective marketing tool to target potential customers in a particular area. Radio advertising is also cheaper than many other channels such as television.
12. Develop Business Partnerships
Business competition is indeed very fierce. However, you should develop good business partnership instead of kicking each other. For example, doing cross-promotions with other businesses.
Cross-promotion is a great way to reduce advertising costs and create valuable synergies that benefit all partners.
13. Create an email newsletter
Almost everyone has an email to be able to connect to the internet. You can reach potential customers by sending email newsletters regularly.
14. Sponsor Events
Become a sponsor or be part of a community charitable event. Your business will soon be known to many people, starting from the community members.
15. Join Local Communities
Depending on your type of business, do not hesitate to join a local community. For example, if you have a cafe or restaurant, you can invite local communities, such as bloggers, cyclists and others, to come.
There is no faster and easier way to make your business widely known compared to reaching out to local communities in your city.
15. Apply for Business Awards
Many business organizations choose top businesses every year. For example, businesses with the best customer service, the most popular products, and so on. There is nothing wrong with a nomination from a friend or even nominating your own business.
16. Write Articles Related to Your Business
Create articles with topics related to your business and then ask people to post them for free.
17. Advertise on Vehicles
You can make your business known by installing vinyl stickers on cars. Such advertisements attract people’s attention in the parking lot or on busy streets.
18. Give Out Business Cards
Let people take business card about your business. Place a small plastic business card holder on the side of your vehicle.
19. Share Stories on Social Media
Do not be shy and promote your business through social media accounts. Everyone has a unique story behind their business.
Write about your business achievements or something that you are proud of. Add your name and digital signature at the end of it then upload it to Facebook, Instagram, Twitter, and LinkedIn. Let everyone know about your business!
20. Create or Update a Marketing Plan for Your Business
Look back at your marketing plan. Have you reached the previous marketing objectives? If not, do not hesitate to update your ad or marketing campaign.
21. Present Well
Do you need new funding? Have good and effective communication skills. Many people ramble when they are nervous so keep practicing in front of a mirror to win your client’s heart.
22. Go to the Right Place
Join business communities to get potential clients to do business partnerships.
23. Create Cool Logos and Taglines
Logo and tagline serve as a reminder for everyone about your product or brand. Use the logo and tagline on all documents including e-mail.
24. Create a Facebook Page for Your Business
Creating a Facebook business page helps improve search results on search engines like Google.
25. Tweet About Your Business on Twitter
Certain hashtags will make it easier for people to find your product on Twitter.
26. Use Pinterest To Promote Your Business
Millions of people use Pinterest to find ideas and inspiration. So why don’t you use it as a marketing channel for your business.
27. Use LinkedIn To Connect With Potential Clients / Customers
LinkedIn is currently one of the references for clients or well-known companies to analyze the business that they want to work together with. Make your business profile appears on LinkedIn.
28. Focus on Your Target Market
Marketing will be more effective if you target the right people. People who feel the need for your products/ services are the ones who will have more interest. Reach such customers because they are the most potential target market who will buy your products/ services.
29. Find Your Target Market
You need to focus on finding your target market. Are they from the upper middle class? If yes, it will be easier to reach them in malls or more exclusive locations. Conversely, if your target market is middle to lower class, you can reach them in local markets or crowded areas.
30. Participate in Trade Shows
Participating in industry fairs or trade shows makes it easier for your business to be known to the public at large. You can get crowd to come with a variety of attractive offers or discounts.
In addition, make your booth unique or attractive so more visitors will come to see and buy.