Businesses, particularly small and medium enterprises, need not invest in tens of thousands of dollars to improve their marketing strategy. Aside from traditional approaches such as direct and promotional marketing, here are relatively low-cost tactics to try.
Budget Strategy #1: Leverage social media
As everyone accesses at least one social media site every day, establishing your presence in the appropriate social networking site can help you reach customers in your niche.
Know where your target market goes to share content and regularly interact with them there. For example, you can create a buzz through Facebook and Twitter contests and discount codes. You can also boost your credibility in your field by sharing articles or infographics related to your products, services, or industry. LinkedIn, for instance, now allows you to post on their publishing platform so that you can reach more potential business contacts. Then maintain your following by featuring patrons in your blog or social media page. These online marketing strategies tell customers that you are highly accessible whether or not you have a physical store.
Budget Strategy #2: Provide relevant content
When consumers need to know about something, they usually turn to the internet. Take advantage of your target market’s thirst for information (and entertainment) by providing them with fresh, original, and helpful content.
Do your customers need more tips on how to use your product or service? Upload how-to articles, infographics, or videos. Is your target audience more of the technical kind? Create a database of technical reports or offer a self-published e-book in exchange for their contact information. Imparting knowledge useful to your consumers whilst subtly mentioning your brand will help your business grow as opposed to simply providing hard-sell information about your products and services.
Whilst you’re at it, learn a thing or two about search marketing so that when prospective customers google something, your web page will be the first in their results list.
Budget Strategy #3: Be an expert
As mentioned, sharing information you authored is one way to market your business and establish your credibility. You can likewise achieve expert status by getting featured at other venues such as blogs of other individuals or businesses, your local paper, or the evening news. You can also partner with other businesses to host educational programs. Best of all, join or get nominated for industry-related awards. Such offline strategies tell the public that your expertise is not self-proclaimed.
There are a myriad of traditional and non-traditional schemes to get your brand out there. The key is to find the marketing strategy that is appropriate to your target audience, budget, and capabilities. So which of these have you tried? What other budget-friendly schemes worked for your business?