Finding inexpensive ways to market your business doesn’t have to be challenging. When a business is tightening up, the marketing budget is often the first to go. When choosing between paying for marketing and paying employees, most business owners know it’s probably best to pay employees first. But, finding ways to attract new customers shouldn’t be overlooked just because cash flow is tight.
It’s a mistake to cut out marketing altogether. One that can cost a business dearly in the long run – and there’s no reason to do it. Marketing doesn’t have to break the bank.
Here are a few ways you can keep marketing going, even if the budget is tight.
#1: Start a referral program.
Referral marketing is one of the cheapest and most effective ways to attract new customers to your business. A referral can come from an existing customer or from another referral source such as a professional colleague or local business owner.
You can also create incentives to refer others to your business by offering rewards, points, and commissions. These are great ways to get people to refer friends and family members.
#2: Take advantage of opportunities to engage in your local community.
One thing the COVID-19 pandemic has done is remind people how important it is to support local businesses in their communities. By participating in community events, you can gain goodwill and increase brand awareness.
Even if you don’t normally attend in-person events, you can participate in them through your local charity. If events are planned, you can also offer advice and support.
#3: Create different types of content.
One of the best things about content marketing is that it doesn’t have to cost a lot. You can write blog posts, create graphics, and even shoot videos without breaking your budget.
The key to not spending a lot is to focus on how your content will serve your target audience. A video that demonstrates different ways to use your product will immediately be useful, and people who watch it won’t have to connect dots to understand how it helped them.
Remember that the content you create can be shared on your website, email list, and social media. Cross-posting is free and it’s always useful because the people who follow you on Twitter may not follow you on Facebook – or vice versa.