A key component of business success is attracting an audience and converting them into customers. This comes down to filling a gap in the market, besting competitors, and having a solid marketing strategy. However, effective marketing calls for an investment, a rate that will vary from business to business. Successful marketing can be achieved on a low budget without sacrificing the desired outcome – continue reading to find out how.
Outsourcing
Unless you’re capable of running a business and a marketing campaign, you’ll need a team of experts. However, hiring a full marketing team can be extremely expensive, so we suggest outsourcing. You will usually pay a rate depending on your needs and campaign scope, and you won’t need to worry about anything.
Alternatively, if you’ve got a marketing team in place but lack leadership, you need to bring in a Chief Marketing Officer (CMO), who is responsible for organizing marketing efforts. However, a full-time CMO will cut a deep hole in your budget. You can benefit from a fractional CMO from Renaissance Digital Marketing, which will set your marketing team on track for a fraction of the price and contact time.
Contact Influencers
Influencers are taking over the digital landscape, which is great news for your money-saving antics. An influencer is someone with a large following on any platform that’s preferably relevant to your niche. To be successful when contacting influencers, it’s best to get involved in conversations on their posts first, which will put your business in their eyesight. Then, once you’ve established initial contact, try pitching your product. You can also market your own channel and buy youtube subscribers to start earning money and getting views that way.
Market Through Customers
Have your customers market for you! According to the highest paid surveys, people love using brands they’ve verified, especially with someone they know. If you sell a physical product, set up a hashtag for your product on Instagram and Twitter, and have your customers post their pictures. Alternatively, you can ask your followers to share content to attract new potential customers. You never know; you may find a brand ambassador within your existing customer base.
DIY Marketing
If you’re just starting or you have a limited budget, consider DIY marketing efforts. There are plenty of tools online for designing digital content, scheduling, and managing all social channels. You will need to put a significant amount of time into your DIY marketing, but you’ll see the benefit immediately when you don’t have to spend any money.
Target Most Effective Strategies
Some businesses pay third-party services to achieve their marketing campaign, including digital marketing services and advertising firms, but are they achieving the desired results? If you’re spending too much for a service and not seeing any return on your investment, perhaps it’s time to cut ties. Alternatively, invest more money there if another service brings in new clients successfully.
Take Away
Marketing doesn’t need to be expensive; it simply has to be smart. Instead of hiring full-time employees, outsource marketing projects. If you have a strong customer base, use them to your advantage for free exposure.
