Marketing is very important for every kind of business for it to grow. We just stated the obvious, right? But in order to do that, you have to devote both time and money to marketing. For big enterprises, this is not a problem. Usually, they allocate a certain budget for marketing, and even have a dedicated marketing department. However for small businesses and startups, time and money can be an issue. But that doesn’t mean you should completely scrap marketing out of your priorities. You can still manage to promote your brand without costing a fortune! Here are some low budget marketing tips to help you.
1. Always Have your Elevator Pitch Ready
Bumped into a potential customer? Suddenly on the spotlight in a party? You’ll never know when an opportunity to market your brand comes, that’s why it’s very important to have your elevator pitch ready. Prepare a short but sweet elevator pitch. Remember that people have short attention spans. In fact, Shark Tank investor Robert Herjavec says you have at most 90 seconds to pitch your brand to a person. So make sure your elevator pitch does the following:
- Addresses the audience’s problem
- Shows your expertise
- Explains your competitive advantage
2. Leverage Communities
Lead generation is another way to market your brand without costing a penny. One way to do this is by leveraging communities. Know where your audience is; where they share their problems. Whether it be craigslist, Facebook groups, forums, or Quora, you can gather leads by promoting your brand in these platforms without rubbing your brand in their faces or spamming these platforms with your ads. Converse naturally with your audience in these communities by tapping into their problems and pitching how your brand can help them.
Word-of-mouth is one of the strongest marketing tools a brand could have. ReferralCandy has a whole infographic to back that up. One of their reasons is that consumers tend to do some research first before making a purchase decision. The best thing about word-of-mouth? It’s free! Encourage word-of-mouth from your past and current customers by incentivising them! You can offer them a discount or a freebie for every referral you get from them. Aside from referrals, entice customers to leave a positive review on your website or social media pages. One positive review can go a long way!
4. Influencer Outreach
Influencer marketing is also a powerful marketing tool. Influencers have an established audience who follow and believe in them. They’re called “influencers” because they have the potential to influence their followers to make decisions like purchasing a product they like. Through blogs, vlogs and other types of content, these influencers can be the next big thing for you! However, while big influencers now charge a big amount of money, there are still micro-influencers that might actually work better for you. They have their own niche, and you want to reach out to that niche. Micro-Influencers usually accept freebies or a small amount of money in exchange for a sponsored content promoting your brand.
5. Invest in Current Connections
The people around you can actually be potential customers too! Ask your friends, family, and colleagues if they need your product or service, and then pitch to them. If they don’t, it wouldn’t cost you to ask a little help from them to promote their brand. Here are simple yet helpful ways they could support you:
Image by Adria Adams Co
While it’s tempting not to invest in marketing just to save more money in your business, it’s not right to completely disregard this important aspect of the business. As long as you’re hardworking and resourceful, you can still market your brand without spending so much time and money. Follow these tips and you’ll surely gain some audience and ultimately, customers!
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