Is it Possible to market your small business for nothing?

Mon, May 2, 2016

Financial Advice

At the beginning of this year, the biggest question facing U.S businesses was whether or not they could shake off the weight of a strong dollar and lower commodity prices in the quest to achieve higher profits.

This was a similar issue in many economies throughout the Western world at the start of 2016, and this global economic uncertainty has forced many businesses to reign in their spending during the first two financial quarters. For some, this has meant restricting advertising and marketing drives in a bid to reduce costs, but for others this simply represents an opportunity to consider more creative and cost-effective techniques.

 

Is it Possible to market your Small Business for Nothing? Here are 3 reasons why it is

With this in mind, is it really possible to market your small business venture with no (or at least minimal) cash? Here are three ideas that will get you started: –

 

Focus on Digital Marketing

Traditional advertising is often beyond the budgets of small businesses, with prime time national and even regional television (and radio) slots costing thousands of pounds. These mediums no longer deliver the ROI that they used to, however, with digital channels becoming increasingly saturated and competitively priced.

You can capitalise on this as a small business-owners, by making digital channels the fulcrum for your marketing campaign. It costs nothing to create an active, integrated social media strategy, for example, while short and impactful VODs (videos on demand) can be used to target a global audience for a fixed cost per thousand views.

All in all, this adds up to a minimal spend and an optimised ROI.

 

Start Blogging and adding value to your social media proposition

On a similar note, regular blogging can also help you to organically market you fledgling brand without the need for significant investment. So long as you focus on creating and publishing high quality and insightful content that offers value to readers you can create a viable entry point into a relationship and build towards long-term loyalty.

A high quality and regularly updated blog can also drive your social media proposition, adding depth to your profile while informing customers. Focus initially on creating one, 500-800 word blog post each week, before sharing this repeatedly throughout your social network. This will organically target customers without triggering a costly monthly spend.

 

Invest in People and create brand Advocates

The term ‘company culture’ is often overused, but when fully understood and used to its full potential it can contribute towards an extremely effective form of marketing.

More specifically, creating an immersive and clearly defined company culture helps employees to buy into your business values, establishing them as motivated and mobile advocates for your new brand as a whole. Their subsequent conduct and willingness to promote your brand in organic surroundings is one of the best ways to engage customers in 2016, many of whom have become cynical of larger corporations and their sales-driven marketing messages.

While this may require an investment of time and in people, it costs no money and can be attempted by businesses of all sizes!

 

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