Today’s business environment is cut-throat. As a small business, you may not afford to splurge money on costly marketing tactics. However, the good news is that there are numerous low-cost or free marketing strategies that you can use to grow your business.
1. Social Media
Social media marketing is both a free and low-cost marketing tactic. This means opening up a business account is free. You can market and build your brand name by posting and engaging your customers on the page. These social media sites such as Instagram, Facebook, Twitter, LinkedIn, YouTube, etc.
The social media platforms also allow businesses to post and pay a small fee to boost the post. This ensures the post reaches a broader audience, translating to more business. The trick is to create and maintain a robust online presence for your brand.
2. Content Creation
People read about things that interest them. Creating a blog and posting engaging content will attract a lot of attention and promote your brand.
You can create a website and design it via customizable themes and logos. You can hire inexpensive designers online on such platforms as Fiverr to create logo designs for you. To save even more money, you can also go one step further find out more about free logo maker online and create your logos. It can save you time and money.
Post SEO (Search Engine Optimization) content that will direct traffic to your website and top-rank you on the Google search engine. Ensure your blog posts are well researched, easy to read, and well-written by either doing it yourself or hiring a writer. Hiring a professional will cost some money, but the results will far outweigh the money spent.
Other content creation methods are:
- White papers
- Instructional videos
3. Email Marketing
Email marketing is an inexpensive way to get your brand known. To get positive results and not get your emails marked as spam, only send emails to people who have opted to receive emails from your business. The email messages should be personalized bases on the message you are sending to the recipients. The emails should hold apparent benefits to the customer, such as discounts and giveaways.
You have to make sure your emails are catchy and offer subscribers incentives such as a discount for first-time subscribers. People love freebies and discounts, and you will amass an email list in no time. With a substantial email list, you can send regular emails and also offers the subscribers more incentives for sharing the email with friends.
4. Customer Referrals
Customer referrals are one of the cheapest ways to market your brand. It costs next to nothing to get referrals other than just providing your customer with an excellent customer experience. Referrals bring very promising leads to your business.
When a satisfied customer refers someone to your business, it means they think that referral matches your type of audience. A referral means your customers trust you, and after getting a good experience, a customer wants others to get the same.
When these referrals come to your business, they already have a positive attitude and expect the same customer experience. All you need is to ensure you give them what they expect, and they will refer you to others.
Ask your customers to refer you to their friends. You can offer them rewards for every successful referral. For example, you can offer a 20% discount off their next purchase after every new customer they refer signs up. Choose a low-cost incentive but effective in bringing in clients.
5. Loyalty Programs
Most people will tell you that loyalty points and rewards are the best aspects of retail shopping. These reward programs do not cost much to set up and implement. The programs also work well for digital and analog marketing. You can choose which rewards or loyalties are suitable for your brand. Some examples include:
- Punch cards for clients who shop in-store
- Discounts offered for subscribers on your email list
- Rewards for repeat shoppers that are app-based
These programs are flexible, and you can choose rewards that will not hurt your business budget. You can alter the rewards as your business expands or needs change. Do not offer too many rewards to hurt the business, as it is better for you to scale upwards on the rewards rather than scale downwards.
Marketing is a crucial part of the business. Without marketing, your business will stagnate, and with the tough competition, customers will go to your competitors instead.
You have to keep your brand relevant. Offer more than the competition by having an edge. Do not be a copycat and send the same emails everyone sends. Be creative and think outside the box. Customers will appreciate your creativity, so do not do the bare minimum and become another run-of-the-mill business doing things the same old way.