Getting the right balance between the costs and the results you desire when marketing your product is of paramount importance. This cannot be overemphasized, especially when you are introducing a new product into the market. Maximizing your return on investment is the goal of marketing strategies that are very cost-effective. Listed and discussed below are the marketing strategies you can effectively make use of to market your product while working within a tight budget.
This is by far one of the most effective ways of building and growing your product in the market. All you have to do is create a website for your brand with a live blogging interface. This has proven to be a big hit in web search engines such as Google. Websites that give live updates and provide content that are of relevance to the inquiring customer get more web traffic.
This must be done consistently, though. A website survey carried out has shown that sites that engage in blogging at least 16 times a month, get more web traffic, in fact, they get 3-and-a-half times more than websites that blog inconsistently. The more quality content you put into your blogging posts, the more you are guaranteed an audience who would be interested in your product and a corresponding wider exposure for your products.
2. Email listing
You should aim to build up your customer base by having email addresses of the people you market your product to. It doesn’t matter the type of customer, always endeavour to get their email address. This is because people are more prone to checking their emails now. Many people check their emails up to 20 times a day.
Even though this marketing strategy has been misused over the years, when utilized in the right way, it is still one of the most effective ways of cutting down on costs when you are building your brand market. Try to avoid the act of spamming random emails, however, as this would have a negative effect on your brand.
Instead of random spamming, build a genuine list of customer’s email addresses who have an interest in what your brand stands for, what your brand has to offer, and are interested in updates from your brand. By doing this, you can generate genuine leads that could become real business deals.
3. Utilization of online marketers
This is one of the most utilized and cost-effective marketing strategies when aiming to make your brand more visible. With this marketing strategy, you are assured of exposing your product to a wider range of people at a very reduced cost.
A great number of online marketers, depending on the sector your products fall into, can help you to reach out to new consumers of your products through web search engine results and business networking platforms.
Websites like Yelp, TripAdvisor and Mogul generate a different set of customers. Yelp, for instance, creates a profile for your brand that encourages customers of your product to post reviews regarding your product. This is massive towards boosting your reputation in the market.
TripAdvisor is the platform to make use of if your business is geared towards giving out information about hotels, cafes, restaurants, and tourist sites. Female entrepreneurs can effectively utilize Mogul, which is aimed at them, to advertise their businesses.
The present age of social media is also a massive platform to make use of as a cost-effective marketing strategy. Creating pages for your brand on social media such as Facebook, Twitter, Instagram cannot be overemphasized in this modern era. You can also advertise your brand on these platforms at a very affordable cost per day, sometimes less than $5.
With the social media option, you can be sure of saving a lot of money while you work out which strategy works best on platforms that cost more to advertise on. This is especially effective when you are working on a very tight marketing budget.
4. Links to take action
A lot of websites do not have links in their content that push their web traffic to take action. Without a shade of doubt, this is one of the keys to building up your customer base, as well as your brand growth.
By understanding what the target audience needs you to do to make your product more sellable, you should create links on your website that provide them with the next step towards acquiring your product. Every webpage on your site should have links through which visitors to your site can get in touch the business with ease.
It could be a “Newsletter subscription” link or a “Contact information” link. What matters is for you to have a medium through which visitors to your website are given the opportunity to become consumers of your products.
5. Press statements
Taking every opportunity to get your target audience of your products via press releases is another option to utilize in growing your business brand.
You can do this by a distribution of flyers, pamphlets, and catalogues to make people more aware of your products. These will bring new versions of your products to the minds of your target audience by making use of the press, either through tabloids or the electronic media. Through this, you are able to reach a wider range of people who could become potential, then loyal, consumers of your brand.
7. Make Use of Online Affordable Funding Options
Lack of funds is always a problem for new business, and that is why you are forced to look for budgeted options to grow the brand. However, once you get sales and cash flow started, you can search for borrowing cash from the affordable lending source. There are many companies available for new business ready to lend money based on turnover bases. Interest rates are very reasonable, so you can pay them back quickly as well.
8. Provision of discounts and coupons
This is definitely one of the most cost-effective strategies you can use to maximize growth in your business brand. For starters, you can be assured it will grab the attention of your target audience. Who doesn’t like to feel they got a good price for a product? Put discounts and coupons on your products, and you will make your customers feel good about buying your products in large quantities while also saving money in the process.
Take a few dollars off the price of your products and you are guaranteed clients who will stay loyal to your brand for many years.
8. Making use of videos
Creating videos to be uploaded onto video-based websites is another great and cost-effective way of growing your brand. Your videos can either be outsourced to companies that are highly experienced in creating quality videos with contents that pull web traffic, or you could create the videos yourself.
Regardless of the option you eventually choose, the main thing is to create videos that are high in content quality. Videos are one of the best tools to utilize in making your brand more visible in the market.
These are seven strategies you can make use of to effectively achieve maximum growth in your business while working on a shoestring budget. Carry out a survey and choose the best strategy or strategies that market your brand to achieve a corresponding impact and boost in your customer numbers.