You want to generate visibility for your business and connect with profitable customers who will eventually become loyal, raving fans. However, you aren’t on the Fortune 500 (yet!), and currently, marketing budget is of the shoestring variety. The good news is that you don’t have to pray for an angel investor to swoop down and bless you with an abundance of working capital. Instead, you implement the following low cost marketing ideas for your business:
Low Cost Marketing Ideas: 3 Things You Should Consider Doing in Business
Search Engine Optimization
Search engine optimization is a mix of on-site and off-site tactics. To increase the traffic to your website, SEO is beneficial. For instance, through clicks via search engine results (which for most people is Google). While it can take a little while to rank for specific keywords, the ROI is immense and far greater than any other form of online or offline marketing.
Pro tip: you don’t necessarily need to include articles like “to” and conjunctions like “and” when optimizing for certain keywords. For example, if your business is called Pete’s Lawncare and Landscaping, optimize it for “Pete’s Lawncare Landscaping”. Or if your business is called Manchester Music and Violin Shop, optimize for “Manchester Music Violin Shop”, and so on. Search Engine Optimization is one of the low cost marketing ideas that you must implement to increase the digital presence.
Create a Referral Program
According to Neilsen research, people buy 4 times more from a business through referral by a family member or friend? Think about every time you bought a product or service from a business, primarily because someone recommended them to you. You can certainly exercise this practice by launching a referral program that helps your customers refer others to your business. You don’t have to spend too much on traditional marketing. Instead, a referral program is proven one of the low cost marketing ideas for businesses.
Pro tip: you can also create referral partnerships with other businesses, both online and locally. For example, you can offer their customers a 10% discount; and they can do the same (or some other appropriate and mutually beneficial trade-off).
Right Use of Social Media: Low Cost Marketing for Your Business
Social media isn’t just for posting pictures of a dream hiking adventure across Hawaii’s Kalalau Trail! It’s also extremely effective and affordable way to blast your brand, and connect with your growing customer community.
Another low cost marketing idea for growing your business is publishing high-quality content and responding quickly to comments and questions.
Pro tip: Many experts suggest while starting a business on social media, stick to three or four platforms. Once you establish a foundation and see what works, you can expand accordingly.
The Bottom Line
When you reach the Fortune 500 (hey, you need to think positive!), then you can think about spending millions on a Super Bowl ad or producing an epic Apple-like public relations event. Until then, these low cost marketing ideas above will help your business generate brand visibility, connect with customers and influencers, and stand out in a crowded and competitive marketplace. Onwards and upwards!