A shortage of budgeting resources is the most significant marketing problem for most businesses. You probably have limited marketing budgets, unless you are a startup with venture or angel capital, and let’s face it, advertising can be expensive. Here are several ways to market your company on a modest budget.
Think about guerilla marketing
In lieu of a huge marketing budget, guerrilla marketing aims to leverage creativity, imagination, and originality. Small businesses with a small budget can use this to their advantage and compete against big corporations with big amounts of money. There is no limit to clever guerilla marketing ideas, except for your imagination. Ideas include:
- Paying a local artist to create an eye-catching mural on the side of your bricks and mortar store or business premises
- Organize a flash mob to draw attention to your product or service and promote awareness of your brand.
Utilize social media
Pretty much everyone is on social media these days, so if you aren’t there, getting on there needs to be a priority. Do not try to spread yourself too thin by being on all of them – consider which ones are most likely to be used by your ideal customer and focus your time and resources on that.
Create engaging and shareable content to establish yourself as an industry leader. When it comes to promotion on social media, try to follow the 80:20 rule. Eighty percent of the material that you share should be carefully curated, and relevant information or news from other sources, and the remaining twenty percent should be self-promotional. Too much in your face advertising will turn customers off.
Freebies and giveaways
Who doesn’t love a freebie? Give away desirable, informative, collectible, or fun items to make your followers engage with you and to build brand awareness. They do not have to be expensive – printables and checklists and online ebooks don’t cost you anything other than your time.
You can also promote the use of Facebook groups for your products, where members agree to try your products free of charge or for a discounted price in return for an honest review on social media. This hs the added benefit of giving you valuable feedback on your product or service. Physical gifts like balloons, smartphone wipes, key chains, refrigerator magnets, pens, notepads, and custom branded stress toys are always popular as well.
Get the medias attention
It is expensive to take out adverts on the radio, TV or print media, but if you can get them to cover you in a feature, it is free advertising. Do something that makes you stand out and get the media to come and cover it.
This may include things like:
- Creating a publicity stunt or making something go viral. Remember the ice bucket challenge on Facebook, which raised millions for ALS charities?
- Doing something positive for the community – send out a press release first to gain attention – some hairdressers have offered free haircuts to the homeless, for example.
- Nominating yourself for an award – even better if you win!