Categories Tech & Tools

Top Ten Cost-Effective Marketing Strategies For Your Business

We are aware that there is no common strategy that will transform your business. On top of that, a pandemic situation might have disrupted your business flow. Due to which you and many other entrepreneurs must have stopped or minimized investments in marketing and advertising.

But wait, Covid-19 has also proved that we are truly one collective world.

Hence, neglecting marketing altogether is not a good idea wherein we can leverage social media and digital marketing to market your business.

The interesting thing over here is effective marketing does not have to cost a lot of money.

1. Referrals and incentives

Create a flow that lets your customers do the marketing for you.

  • People are more likely to buy a product when it is referred to them by a friend.
  • You could offer your current customers a discount on their subscriptions in exchange for referring a new customer or offer a cash reward.

Also, who is better suited to obtain referrals than your current staff?

Your team players know your product or service apart from your customer base.

I think you should consider offering incentives to your staff members who refer new clients which should not only be monetary but also include other benefits like training.

2. Leverage media opportunities

Journalists are always on a hunt for a good story!

Do not just boast about your company but do give an industry overview with figures and facts. They are more likely to carry your inputs.

  • Write an authored article or a column and try sharing it with an online or a print publication.
  • Posting your content in the form of weekly or monthly write-ups can do wonders.
    Leveraging Media

    If you come across a paid participation opportunity in a trade magazine or a newspaper, do consider accepting it. You will be visible not just in the media, but your potential customers will take interest in your business and you are more likely to get business opportunities.

3. Be an active commentator

Respond to queries by taking the time to answer questions on platforms like Quora, Facebook, LinkedIn or Reddit and similar platforms. This method can get you noticed by an entirely new audience.

For instance, you have a Facebook page and if a customer criticizes or asks you some questions, do respond as early as possible. This increases your authenticity among customers

Active Commentator

Use Facebook, Twitter, LinkedIn and other such platforms to share not only your knowledge and expertise, but also a little about who you are as a person and a lot about the industry in which you earn your livelihood.

4. Social Media marketing

This is something you can master if you invest time. And if you do not have time, SocialPilot can make your social media marketing task easier.

Start by establishing profiles for your business on major platforms like Facebook, Twitter, Instagram, Snapchat, LinkedIn etc.

Reach out to individuals, and make sure that you post new content on a regular basis.

Note that Facebook advertising is also an inexpensive and effective way to market your products. It allows you to target a specific audience based on location, interests, age, sex, online behavior, and many other factors.

I would recommend SocialPilot to boost your campaigns through social media. SocialPilot enables scheduling and managing all your posts easily, giving you a hassle-free experience. Through this platform, you will be able to manage your social media accounts at a cost-effective price.

SocialPilot

5. Content marketing

Content has been the king and it helps drive the marketing campaign of any business.

The simplest approach is to manage an on-site blog, adding new content that informs your readers in a unique and practical way.

Infographics, instructional videos, and podcasts all belong to the content-marketing category. They have the power to improve your brand reputation and increase your inbound traffic.

Content Marketing

Video content can cost big money to get professional YouTube videos produced, and there is nothing wrong in trying by yourself or hiring an intern who is into filmmaking or advertisement.

6. Host contests

Hosting Contests

Social media contests make a low-cost way of building brand awareness and even generating leads in the market. Your contest prize should appeal to your target audience enough such that they will perform the call to action.

The number of participants and new potential leads you get will be well worth the price.

Not sure how to host?

Go with Shortstack– you can run everything from Instagram & Twitter hashtag contests, to Facebook giveaways. It can also be used with other platforms like Pinterest. Other alternatives include Wishpond and Agorapulse.

Short Stack

7. Webinars and online training

Due to Covid outbreak there has been a shift in work culture across corporations.

  • You can host webinars in the form of a presentation, demonstration, or discussion.
  • You can use it to showcase a series of offerings to build credibility with your customers and potential customers.

Do promote a free consultation through webinar and discuss with aspiring professions in your industry.

According to a report by Ethical Corporation, creative and long-term marketers will be increasingly reliant on webinars to ensure sales pipelines. The popularity of webinars was already rising before the current pandemic.

Before Covid outbreak, InsideSales reported that 73% of marketers and sales leaders find webinars to be one of the most reliable ways of generating quality leads.

8. Lead generation techniques and tools

One of the techniques, pay-per-click ad solutions are available which are budget friendly for a startup. On Facebook, you can pay as little as $1 a day for certain ads. You might as well invest in improving your search engine optimization (SEO).

You should try using online tools like Answer the Public, Animalz Revive and CanIRank that could attract high traffic to your site. Try looking for Ad Promo Credits wherein some web hosting services offer advertising discount codes as part of their membership offerings.

Techniques and Tools

Also, ranking your Google My Business (GMB) listing is one of the most magical things you can do for your business.

  • In fact, if you run a local business targeting local clients, I would say it is an ideal strategy available nowadays. You can register in its online directory.
  • Another way to boost your brand visibility is by leveraging Google adwords and coupon deals sites. With capability to quickly promote business, coupon deals sites enable you to offer limited-time discounts to new customers.

9. Use freebies

Who does not like free gifts?

Business Leads

One day or the other return on investments in donated products are going to come back with compounded benefits.

For instance, donate a T-shirt in a trade fair after giving an overview about your product during a trade show. The user of that T-shirt is likely to get in touch sometime soon if that person uses it daily.

Another example is offering a discount coupon in exchange for the email address is one of the low-cost ways to capture leads for your business.

10. Traditional marketing

Traditional Marketing

Be it face to face interaction, print ads or roll-out of flyers and brochures, all these marketing activities matter even in the era of digital marketing.

People are going to get out of their homes sooner or later, they will get attracted to the outer world and shop.

Meanwhile, design a creative business card. It works! Keep an eye on people who have special skills and ask if they can help you in any way to market your business. There is also a lot of room for invention when it comes to guerilla marketing.

Final word

There is no limit to what is possible in marketing! Even some crazy marketing ideas when tried can turn out to be a great success. This is the time to experiment with a limited budget and see how far you can go.

All the best!

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Author: Bharadwaj Sharma

Bharadwaj Sharma is a business journalist turned content writer. He has worked for a public relations agency, a business newspaper, a news website, and a B2B tech magazine before joining Socialmediamarketing.net. In his free time, he loves watching movies, going for a walk, and interacting with friends and family!

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