Marketing Strategies for Small Business

Importance of allocating a budget for marketing

Startup companies face several challenges to sustain in the market. They may start the business with a limited sum, but as they continue, they will have to spend for certain expenses like wages, raw materials, office leasing fees, and other operational expenses regularly. It is challenging to balance costs and income, and it is why many small business owners hesitate to spend on advertising and marketing. It has been estimated that approximately 80% of the business owners do not know to measure the effectiveness of marketing strategy. It is the main reason why entrepreneurs avoid doing any marketing instantly. Effective marketing is highly affordable and does not eat your budget. Instead of selecting higher budget marketing techniques, you can choose low cost and effective strategies like digital marketing to grow your startup. Are you wondering what they are? Well, the best digital marketing company in Coimbatore has beautifully elucidated low budget marketing techniques perfect for a startup.

Budget-friendly digital marketing techniques for a startup

1. Referrals:

An excellent way to perform marketing is developing a system where the customers would perform marketing for you. For example, when a person is searching for a product or service and a friend of him/her, suggests or recommends, he/she would immediately buy without any confusion. If he/she is happy and satisfied with the product, there are chances for him/her to recommend it to another two members. This is referred to as a referral program. It is affordable and utterly dependent on the quality and output of your product. If you are confident about your product’s quality, referral marketing will work out excellently.

2. Content marketing:

There are several forms of content marketing, and the best part is, it does not need any investment. One of the best and easiest ways to perform content marketing is to take care of the on-site blog and include fresh content about popular topics every week. The blogs should entertain or inform the readers practically and uniquely. Podcasts, videos, and infographics come under the content marketing category. These content platforms help enhance your brand reputation, complement several associated strategies, and increase the inbound traffic of the website.

3. PPC ads:

Most people think that PPC ads are expensive. Well, it is when you do not fix a budget or when you target high traffic keywords. However, some platforms and niches are best for budget-conscious business owners. When you run PPC ads on Facebook, you can start running ads for just $1 a day.

Also Read: Build a Successful Digital Marketing Funnel

4. Email marketing:

It is one of the most affordable and results in giving marketing strategies to consider. Several sources claim ROI or return on investment of 400% or more. If you have collected a good list of the database, you can get good results for the money and time you are investing.

5. Social media marketing:

When it comes to social media marketing, it is essential to do it professionally. It should not be managed just like you take care of your social media accounts. You have to establish a business profile on top platforms such as Instagram, Twitter, and Facebook. Begin syndicating content as per your potential market. Ensure to be connected to grow the audience and redirect traffic to your website.

Do forums and groups help in promoting your brand?

Do not underestimate the value of hanging about on social media groups and public forums. There are chances for you to come across people asking questions about your product or service. You can answer with your expertise and also attend certain local events to market your business. When you are involved with your associated communities, including local neighbourhoods and broader industries, there are high chances to meet potential clients. The best part is you do not have to pay any sum to be a member of these groups. Thus, you can reap excellent benefits within a short time.

If you find it hard to balance your business budget, then make sure not to eliminate marketing from your equation. Look out for creativity and result- giving marketing ways according to your products and brand that does not need any up-front investment.