5 budget-friendly marketing tips for startups
Bildet er tatt av Steve Buissinne fra Pixabay
The greatest challenge for any startup is remaining cash positive. Running a business is rarely, if ever, a cheap proposition, after all. Between the fees associated with leasing an office, the salary for the team, and other continuously occurring operational costs, it’s no small feat for any new company to secure enough revenue to sustain itself and stay afloat.
Because of this, it isn’t uncommon for entrepreneurs, especially first-time business owners, to neglect or abandon specific investments that they may not necessarily consider as a priority, like advertising and marketing. However, the irony in this is that doing so ultimately stifles their growth in the industry, limits their cash flow, and forces them into taking more limited budgets.
But the reality is that the effective marketing of a brand and its offerings doesn’t always have to entail high costs. To this end, here are a few budget-friendly marketing tips to aid startup enterprises to improve their visibility towards their intended audiences without spending more than they have to.
Reach out to bloggers
One of the most effective strategies to improve product awareness and build brand credibility online is by reaching out to bloggers. After all, not only can they grow your online traffic and engage and convert prospective customers, but they’ll continue to deliver results for the business long after all the content has been posted.
Best of all, working with bloggers for the production of quality content that is as authoritative as it is relevant to your niche isn’t an expensive proposition. The acquisition of services by a top-class blogger agency like Ocere is affordable, even for startups.
Adopt a referral program
Another method to improve brand awareness economically is to let your existing customers do it for you. These days, most people are more likely to trust consumer insight and recommendations than the sales pitch of a business. And you’ll get more conversion rates by encouraging them to promote your offerings instead.
This is where a referral program can be useful. Beyond the prospect of attracting more customers, it’s also inexpensive. Depending on how it’s structured, it could even be free. Whether you offer promotional discounts, cash rewards, or any other incentives, adopting a referral program is something that you should consider.
Produce high-quality content
While marketing through content can take many different forms, it usually doesn’t require a considerable commitment of financial resources. For instance, an on-site blogging website is an excellent way to generate exposure for a brand and deliver informative material relevant to the trade of the business. Updating it regularly with entertaining or educational pieces that give value to your target audience can go a long way in maintaining engagement with them.
Podcasts, video content, and other mediums are also within this category. While diversifying your content can help you reel in more users, you must always put a focus on quality above all else or you’ll fail to capture their attention.
Opt for groups and forums
It’s never a good idea to underestimate the efficacy of lurking within groups in social media or public forums. There’s a chance that someone may have an inquiry that you’re in a position to respond to because of your expertise, or find a special event to leverage for the promotion of your brand. The more connected and involved you become with communities, the better your chances are to advertise your offerings. It won’t cost you anything but a little bit of your time to do either.
Pay-per-click advertising
It may sound strange to include pay-per-click advertising on a list of budget-friendly marketing strategies, especially when you consider that this approach can be expensive with high-value keywords. However, the truth is that there are platforms and niches that are accessible even to budget-conscious business owners. Even social media websites like Facebook have ads that cost a dollar a day. The key is to know where to look and explore all available options first.
It isn’t uncommon for startups to struggle with their finances. However, you must never resort to cutting down essential areas like marketing from the equation. Instead, give yourself a chance to make use of effective yet inexpensive marketing strategies, such as those mentioned above.
