When it comes to marketing, some business owners have to work on a shoestring budget. In fact, deciding which marketing or advertising strategies will yield the greatest results for the least amount of capital is one of the toughest challenges facing small to medium enterprises.
Thankfully, there are a plethora of unique marketing ideas that have been proven to be effective and require only a modest initial investment.
1Generate online buzz through digital PR
Building a relationship with the press is a great way to get the word out. Try finding blogs, newspapers, tabloids, magazines, and webzines that are relevant to your business and offer them an exclusive press release. Most news outlets will list a telephone number you can call or email address you can write for press inquiries.
If you’re a locally-oriented business, try reaching out to smaller publications like community newspapers or newsletters.
Remember to be courteous and not too pushy with the editors and reporters you come in contact with. It’s their choice whether they want to cover the story or not. The goal is to build a working relationship with them, and an overly aggressive or hostile attitude can jeopardize any chance of positive coverage in the future.
Journalists will take an objective approach to covering your press release, so don’t expect coverage to always be glowing. Still, it’s an incredibly effective way to start spreading word-of-mouth about your business. Articles like these help generate buzz about new startups, and people are more inclined to read them because they aren’t paid adverts.
Email marketing is “a type of direct digital marketing that uses electronic mail (also called email or e-mail) as the marketing communication delivery method.” It’s also one of the most effective, yet under-utilised marketing tools you can utilise on a tight budget.
The trick to successful email marketing is garnering a large roster of subscribers. This can be accomplished a number of ways. The most successful, by far, is by offering potential subscribers a free resource. Just what this resource is depends on your business, but it should be something a consumer would find highly valuable.
When it comes to email marketing software, there are quite a few options are your disposal. MailChimp is free to start with, but puts a price-tag on premium features. ReachMail is also free for up to 5 000 subscribers and 15 000 emails per month.
3Offer promotional vouchers and special deals
Offering coupons, vouchers, special deals, and one-time offers is a great way to attract new customers. It’s doubly beneficial because these new customers are more likely to be loyal to your business in the future.
While printing vouchers in a local paper works best for small, brick-and-mortar enterprises, don’t under-estimate the value of online promotions. Voucher Bin example of a website that connects consumers with businesses and brands offering special promotions.
4Social media influencer marketing
Whether your monthly budget is $1000 or $1,000,000, a good long-term marketing strategy should always be oriented around building beneficial relationships. The term influencer marketing refers to doing just that.
Though the concept has been with us for a long time, only recently has social media brought it to the forefront of modern marketing strategies.
“Influencer marketing can be loosely defined as a form of marketing that identifies and targets individuals with influence over potential buyers,” writes Kyle Wong in Forbes magazine.
“In the past, brands may have focused on popular bloggers and celebrities but today there is a new wave of ‘everyday’ consumers that can have just as large an impact.”
Try finding individuals who are influential on social media (look at their number of followers and post interactions) and offer he or she a few perks for mentioning your brand, product, or business. Try to target your efforts at people who would have a legitimate, enthusiastic interest in what your organization does.
Remember, you’re trying to build a long-term relationship with these individuals, so always approach respectfully and through the appropriate channels.