Many small businesses suffer a huge setback when it comes to marketing, owing to their shoestring budget. Here are the top five ways to market your business on a budget that are worth giving a try:
1) Embrace Exhibition Stands
Exhibitions stands are one of the best ways to market your business to a wider, yet localized audience. They are increasingly gaining popularity, and if you source them from pioneers in the business like ExpoCart, you are guaranteed of some catchy designs which will be able to get the attention of potential clients.
The best thing about the stands is that they give an unrivaled yet equal opportunity to showcase your products and services and form an invaluable connection with your customers. If you wish to take your business to a whole new level, then it would be wiser to embrace this type of marketing strategy.
2) Offer Loyalty Rewards
Any business owner will attest that it takes lots of effort to acquire a new customer than it does to keep an existing one. More often than not, returning customers tend to spend more money than their existing fellows.
You should try as much as possible to encourage your loyal customers to continue to purchase from you by providing a reasonable loyalty program. The two reliable options in this regard include a point system or a tiered rewards program that are ideal for frequent small value purchases and larger less frequent purchases respectively.
3) Start a Customer Referral Program
However challenging this might be, it is still a worthy option to give a try. It would help if you aimed at encouraging your loyal customers to spread the message about your products using a referral incentive program. Your referral reward can be anything from a cash bonus to a free product or any combination depending on the nature of your business.
All your products cost you money, and the aim of starting your business is to make profits, so this calls for caution even if you are giving out incentives. Find the right balance between offering a valuable incentive and encouraging referrals without incurring any losses.
4) Use Social Media Effectively
Social media is undoubtedly one of the best platforms to market your business and enjoy the resultant benefits. Social media platforms can be such a viable option when it comes to marketing your business on a budget. However, there are a few tips to bear in mind to make your marketing efforts a success.
For instance, you should use your buyer persona to enable you to know your buyers’ interests easily. It is also essential to use an online automation tool to manage your social media postings as well as using user-generated content campaigns to ensure all your followers are engaged.
5) Implement a Content Marketing Plan
Content marketing refers to a way of connecting with your customers in a personal way that enables you to form relationships and grow your brand awareness. Some of the strategies you can adopt for your content marketing strategies include creating a how-to video tutorial, writing product reviews, and asking for guest posts among others.