Looking to accelerate growth and generate more long-term revenue? Discover how to market your small business on a budget with these seven proven methods.
Marketing doesn’t have to cost the earth. In fact, sometimes going back to basics and implementing low-cost, targeted options can have a greater impact than funnelling money into ill-targeted campaigns.
49% of small businesses aren’t sure if their marketing efforts are effective. This worrying statistic emphasises how a healthy marketing budget is nothing without a strategic marketing plan.
It’s about knowing your audience and producing relevant material.
No matter how small your marketing budget, your business can pack a punch. On average, people spend over two hours a day on social media. The online world we live in is the perfect platform to showcase your services, and there are many ways to do this on a shoestring budget.
With the right know-how, you can create an effective low budget marketing strategy.
How to advertise a new website launch
A streamlined website with high-quality content is essential for every small business. You need to gain interest and position yourself as an expert in your field.
The answer to boosting traffic to your website is simple – blogging. Writing blog posts that entice people to read them is a skill, but one which can be mastered. The trick is to post relevant, engaging content that supports your brand, boosts your authority and strengthens your website’s SEO presence
If writing copy isn’t your bag, you can always call in an expert.
Posting regularly and sharing articles across different social platforms is the trick.
#2 Repurpose content
When you’re searching for low-cost marketing ideas for small businesses, being resourceful can take you a long way.
In business, time is money. That’s why recycling content you already have in your marketing arsenal is such a gift. Evergreen material that has performed for your business in the past can be repurposed into different formats, helping to boost both traffic and organic exposure.
Be creative. Turn blog posts into videos or podcasts. Create engaging visuals and take snippets of powerful copy to create social media posts. Make the most of great content – your audience craves it.
#3 Utilise social media
Small businesses need a social media presence. All platforms have paid features, but you can easily make the most of the free options.
Whether it’s creating engaging community groups for your current customers or posting videos that showcase your business and its services, the key is to create a foundation to build on. All platforms are alive with engaged users waiting to absorb exciting new content.
Cut through the noise with a strong creative presence.
You can discover exactly how to make the most of social media by utilising these innovative features and functions.
#4 Use guerrilla tactics
If you want to know how to market your small business on a budget while making a big and bold statement, guerrilla tactics are on the money.
Low cost and memorable, this approach involves making direct contact with customers in unconventional ways to push your brand, product, or service to the forefront of their minds. It’s designed to produce an emotional response.
An example of this could be marketing directly on the street, in an unusual and exciting way. You’ll need to think outside the box as well as committing time and energy for this approach.
Take a look at these weird and wonderful campaigns for some inspiration.
#5 Ask for Referrals
Word of mouth is a powerful low budget marketing strategy for small businesses. If your customers are happy with your offering, they’ll be likely to recommend you to their immediate circle.
Reaching out to your current customers and giving them an incentive to promote your services for both themselves and their referee is an effective way to build your customer base. The offering could be as simple as a discount or a prize draw entry.
Your customers promoting your business to others is one of the most effective low budget marketing strategies there is, even if your marketing plan isn’t quite up to scratch at the minute. A referral comes from a place of trust – something money can’t buy.
#6 Network with other businesses
There’s a flipside to competing with businesses – collaborating with businesses that complement (or even don’t!) yours to get your name into the market and vice versa. Similar to referrals, networking builds trust and credibility. This type of low budget marketing strategy helps you extend your network and provides you with a support group to bounce ideas off.
You could go out and find businesses to build this relationship with, but that’s time-consuming. Alternatively, you can pay a relatively small fee to join a local, organised networking group where you’ll meet like-minded business owners.
Powerful connections can create new business.
If you’d like more information on how to future-proof your business with location-based marketing, take a gander at these 6 local marketing strategies for small businesses.
#7 Email your customers
You may already have your repeat customers – if so, that’s great. However, never underestimate the importance of sending regular communications via email.
If you don’t want your customers to stop thinking about your business, staying in touch is crucial.
You don’t need bells and whistles to do this – just your customers’ email addresses, their permission to be emailed (check out the GDPR rules for more information), and some simple email campaign copy.
If your customer list is small, you can email them directly from your business account to provide engaging content or check if they need anything else.
If your list is too big to feasibly do this, use an automation and email marketing platform that offers a free account, like Mailchimp.
Targeted emails at the right time can result in repeat business and increased brand visibility.
It’s also vital that you avoid spam words in your subject line. In particular, words and phrases that overpromise and make bold claims. For example, “100% free”, “Double your cash” and “Save big money”.
Ideally, aim to include one of the following effective power words:
• Invitation • Introducing • You/Your • Offer • New • Sale
Put these low budget marketing strategies to the test
When marketing your business on a budget, it’s important to remember that money isn’t everything.
It helps, of course, but a well-thought-out low budget marketing strategy utilising the right channels doesn’t need a big budget. Too many businesses spend money blindly on campaigns that look the part but don’t necessarily deliver.
There are so many low-cost marketing ideas for small businesses to try that only involves a pinch of creativity and a strong working knowledge of your customer base and what they want.
The trick is to start and to see what works for you.
If you need some guidance or want to utilise our digital marketing experience, contact us to discover if we can support your small business and its marketing goals.