Marketing is a key area for any business as it lets people know you exist, tells them what you are about and shows them which goods or services you have that they may find useful. However, it can also be an area where costs soon mount up. This makes keeping control of your marketing budget important but not cutting back too much is vital. To help with striking this fine balance, it is worth thinking about the most cost-effective marketing strategies for your business.
But which ones give the best bang for your buck and deliver effective results?
Social media marketing
This is one of the most cost-effective marketing tools to use. The platforms are not only free to sign-up with but also give you a truly global reach and are an organic way to connect with the public. Social media marketing is also superb for letting people know quickly about breaking company news, launching new products, gaining vital feedback from customers or advertising your latest promotions. When you see that a platform like Twitter has 330 million active users globally, it is clear how effective these channels can be.
Another cost-effective way to market your business is through email. This means reaching out via email to potential new customers to let them know what you do or with details of a special offer. Email marketing can also be used to market or upsell to existing customers. Not only is this method simple to carry out and relatively inexpensive it is also easy to measure its success and usually gives a great ROI. If you adopt easy to use email outreach tools then it actually becomes more cost-effective as you can send more emails to new or existing customers in less time.
Networking is a great marketing approach, especially in B2B situations. That is because it leverages contacts you already have so will not cost anything. By using your network of contacts, you can find new opportunities and promote your brand without having to spend any money. It can also be wise to network both online and offline for maximum impact. Business groups are a great offline way to build up your existing network and to market your business more widely.
Flyers and chalkboards
Although online methods offer many cost-effective strategies to try out, you can still go traditional at times. Setting up an A-Frame chalkboard outside your physical store is a great way to attract passing trade and tell the world about what you do. Flyers are another cheap yet effective way to spread your brand image and to let people know you exist. By handing them out in your local area, you will also be able to engage with people and perhaps have short conversations about your business.
Get great results for less money
If you get your marketing right, then you will be on the way to business success. The issue for many companies though is that they do not have an endless marketing budget to play with. If that is the case for your business, the above tips give some great ways to spend less but still get outstanding results.