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An effective marketing strategy doesn’t need to break the bank, but it does pay to be cautious with how you spend your marketing budget. At its core, you are promoting your business, products and services and there are few ways that this can be done at low-cost.
1. Public relations
Print and online PR costs nothing, local and national newspapers, as well as industry publications, are always on the lookout for good news stories. If you have a new product launch or want to celebrate a new company appointment or success, then a press release is the way to go. If you know how to put together a press release, then it is a great way to promote your business without a cost.
2. Mailing list
Building an email database can be hard as you must rely on people giving up their personal email address. However, persistence is the key here as it will give you a great platform with which to promote your business. One tip is to offer your email database something they would not normally get if they were not an e-newsletter subscriber and make sure you adhere to GDPR (general data protection regulation).
Vouchers present a good way to boost sales and at the same time can help get your message across. It could be a voucher for new clients to sign up via a discount or a voucher specifically for your loyal customers. One great idea is a discount off their next purchase which is one way of making sure they return.
4. Facebook competitions
One of the best ways to drive brand awareness and engagement is with a competition. Who doesn’t love a giveaway and social media is one of the best platforms? The easiest way to do this is to create a post that outlines all the details including what the prize will be and how people need to enter. The most common way to enter is the ‘share, like and tag’ option.
This works well for two ways, one you will grow your reach organically as everyone will be sharing and tagging friends the post and two you can grow your likes considerably, of which those people will start to see your future content, best of all you will not need a hefty budget to run it.
Another low-cost marketing strategy and one that might not be to everyone’s tastes is networking. Networking events can be in the form of coffee mornings or seminars. Some networking clubs do charge a monthly fee, but normally you can get a free pass to test the water. Business to business referrals is a great way to generate exposure and who knows you might build a few professional relationships that could lead to potential leads and sales.