Even when faced with a limited budget, it is important to have a marketing plan that will help your business to grow. Instead of spending out of the nose to spur growth, spend wisely to lasting market traction. We have put together a few suggestions on how to increase your exposure in your target niche while only utilizing a shoestring budget.
Partner With A Complimentary Company
Hiring a costly marketing team is one way to grow your business, however, it’s not the only solution. If you are strapped for cash, consider partnering with a complimentary company that does invest heavily in its own marketing. Working with an established company can help take the pressure off of your growing business while also offering a mutual benefit for their audience and yours. Not only will you be able to make use of their existing infrastructure, but you will also learn some effective tips and tricks that you can use later.
Strategically Use Social Media
There are so many social media outlets online these days that marketing practically does itself. It is important to use social media strategically when looking to grow your business. Some companies specialize in social media marketing, but often, there is a per platform fee. Instead of trying to cover all of the platforms, choose those that perform best for your brand or at least those that the majority of your site visitors frequent. Effective marketing on a budget means researching where to spend your money for the best result instead of going for a blanket approach that will not result in many conversions.
Use Your Current Customers For Promotion
Referrals are one of the strongest marketing tools that exist. Consumers are more apt to take suggestions from their friends, family, and peers over direct marketing from brands. While this can limit business growth in some industries, it can actually help smaller brands get their name out there without spending their entire budget in one place. Running contests, rewarding consumers for reviews, and even featuring users on your company’s social media channels will give your customers incentives to promote your services for you. There is a reason companies large and small make such a big deal about sending influencers PR or encouraging consumer posts to go viral. Not only does it get their products and services out there, but it saves thousands or even millions of dollars in marketing fees.
