Introduction
Low-cost marketing is generally useful for those businesses who do not have more finance to spend on marketing.
Therefore generally small businesses or startups use it.
Today more than 60% of businesses around the world follow these strategies.
WHAT’S IN IT
Low-cost Marketing Strategies
There are some strategies which are explained in detail below,
Social Media Contests
Firstly, It is a low-cost building brand awareness that can create high lead customers towards your business. So, You should keep a contest prize as such that your target audience will enter the contest.
Community Events
An event that took place in your local community, for instance, use it as these strategies for your business and you have to make sure that the standard budget does not exceed the actual budget.
Search Engine Optimisation (SEO)
Also, The benefits of SEO are inexhaustible. Your content will be considered more valuable and credible when it appears on the first page of the Search engine Results Page (SERP).
Referral programmes
In referral marketing, one customer will refer to a product to another customer, and then that other customer will refer to the product to some other person and this system will go on and on. So this the way of doing these strategies.
Email marketing
Through E-mail marketing, we can send emails to customers regularly of our products, new discounts on our products and so on. So this is one of the best ways of doing this.
Networking
Firstly, That means many times other business owners can help you in identifying your marketing blind spots, referring customers to you, educating you, and many more things like that.
So you just have to build a proper Business Networking.
Try these ideas and you will see a growth in your business as well as your overall marketing strategy.
Ideas for small business to adopt it
Create awesome videos
Today’s world seems more of a video than a traditional reading of books. So, People will easily relate a message communicated through video.
So a small business owner should create some awesome videos for his customers.
Get Ads promo credits
Firstly, many discount coupons are floating around on Facebook and Google Ads.
Soon, Take this credit and use it for your business.
Give new life to your old data
In case your advertising budget is also tight, then then you definitely may be unable to pay for a material author to compose articles for you personally. In the event, you have no fresh notion to use it onto the internet then put existing info around the internet with minimal alteration.
Meanwhile, There are dozens of data studies and stats available over the internet.
So, You have to study your industry, polish it up again and put it on the web.
Also, Highlight important parts of the study, add images, crank out some charts, and make your thoughts and predictions based on the database
Industry Partnerships
Also, Team up with some of the businesses related to your industry and start working on a partnership basis…
Partnering with another business will come under the eyes of many customers.
And you will also get access to your partner’s customer audience. So there are many benefits of industry partnerships.
Apply for business awards
Meanwhile, Most Industries organise business awards. You need to win this award.
You win this award and then you will access a Bagade from that industry which has very high credibility in the industry.
If your industry does not have this business award then you should take an initiative of starting with this award.
You will also get a lot of attention from the customers of your industry and you will also create a lot of new business connections.
Business cards
So, Prepare some unique business cards for yourself and Give this card to everyone on your first meet at the time of handshake.
This will catch the eye of another person.
Attend trade shows
Businessmen need to attend trade shows because through these trade shows we can improve our networking.
Hence, In trade shows, many businessmen from different fields come and try to sell their products.
So there is a high probability that we find a low-cost manufacturer or supplier in a trade show.
Free workshops
People love to learn, so free workshops classes should be arranged. So, It can be a great way to form a more meaningful connection with customers.
Logo and Tagline
Also, Create a catchy logo and a tagline for your business.
So, Through this, you will come close to your customers.
Examples
The best example of it is Xiaomi India.
For instance, In the year 2010 Xiaomi started operations in India. They do not have higher funds to market their product.
So they start with it. Firstly, They don’t advertise their products on television or hire some big actors or actresses.
So, They started their campaign digitally.
Also, They started making unique videos and put it up on Facebook, Instagram and many other social media.
Also, Their only strategy was to attract youth between the age of 18-35 years. So they have gone for digital marketing.
Afterwards, they started with their flash sales in the year 2013 and they have got a huge success in their business through this strategy.
Consequently, Today Xiaomi is the number one mobile manufacturing company in India.
So, This is the best example of these strategies.
Conclusion
So, As per my views, there are many ways of doing it and I have explained many of them in my blog.
If you will implement them seriously in your business then you are going to get a result.
Thank you so much for your time for reading this blog.
Also You can read our Blog on 15 Proven Low cost branding Ideas For Your Business