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According to go6 media, the third top marketing challenge for companies is the lack of budgeting resources. Unless you are a startup with venture or angel capital, you probably have a limited marketing budget. Here some ways you can market your business on a limited budget.
1. Go, guerilla.
Guerilla marketing looks to leverage creativity, imagination and originality in place of a big budget. Smart small businesses with a limited budget often use guerilla marketing to compete with huge companies. There is no shortage of creative guerilla marketing ideas. Here are just a few examples:
- If you have a brick and mortar location, pay someone to create eye-catching art with chalk.
- If you sell a product that can be used on the street, employ undercover agents to promote your product directly to potential customers. For example, Sony hired agents to ask strangers to take photos of them and then raved about their camera.
- Organise a flash mob to garner crowd attention and promote awareness of your brand.
2. Use social media.
According to research, nearly two-thirds of UK adults use social media now. This is a near tenfold increase within the last decade.
Popular social media channels include Facebook, Twitter, Instagram, Pinterest, Reddit, LinkedIn, Google Plus and Snapchat. Each of these social media platforms are unique in their own right and require unique ways of engagement. Rather than try to master it all at once, choose a few you like and try to master those first.
3. Create valuable content.
Not only do potential customers love great content, but so does Google. There are many ways to share information — blogging, creating videos, hosting podcasts, designing infographics or submitting articles to online authority sites. Not only do you gain authority as an expert, but you also get free traffic. You can also offer to be a guest blogger for another complementary website or be interviewed on a podcast.
You don’t always have to produce the content yourself. You can hire freelance writers, graphic designers and personal assistants through companies such as a member of our network go6 media. If you run out of ideas, you can repurpose old content and give it a new spin.
4. Contests and giveaways.
Everyone loves free gifts! Give away desirable or fun items to gain goodwill, build brand awareness and connect with potential customers. They don’t need to be expensive. Things such as online ebooks, white papers, and checklists don’t cost you anything but your time.
You can also promote your products through Facebook groups where members agree to try your product for free or a discounted price in exchange for an honest review. Physical gifts with your advertising on it such as balloons, smartphone wipes, key chains, fridge magnets, pens, and notepads are always popular too.
You can also create a viral marketing effect by making your marketing interesting, attractive and fun. One of the craziest marketing efforts that went viral is the ALS Ice Bucket Challenge. People dared their friends and family to pour ice-cold water on themselves within 24 hours. Those who failed to do so would then have to donate to the ALS charity.
As you see, marketing your business on a limited budget is completely possible. You just need to get creative and think out of the box. Come along to our next event and please share your ideas.