Low-cost marketing ideas for businesses on a budget
Many SMEs simply do not have big marketing budgets with which to promote their business; however, smart strategies and clever tactics can help you to reach your target market. The good news is that modern digital technologies make it far easier to market without wasted money, thanks to their highly-efficient targeting. Here are some of our favourite low-budget marketing activities.
1. Social media competitions
For the price of a prize – which is likely to be your own product or service – you can engage with large numbers of potential followers and customers by hosting a free social media competition. Create a buzz and encourage sharing for maximum entries and email address sign-ups!
SEO can be fiddly and time-consuming; however, it is also easy to get started with keyword research and inclusion, a content plan, social media sharing, and other tactics such as meta tagging and on-page optimisation. Start with the basics, invest in ongoing SEO and you will really see a difference over time.
3. Online advertising
PPC advertising is highly targeted, meaning you can choose your own budget, set your niche, and then reach your audience without wasting money or paying over the odds. Learn about online marketing and you will have a highly-valuable marketing tool that can completely match your marketing budget.
Don’t underestimate the value of old-fashioned face-to-face networking. Go to trade shows, events, exhibitions and other places where your potential customers, referrers, suppliers, talent and other vital future stakeholders will be. Say hello, shake hands, hand out business cards, and get to know people. This relationship building will pay dividends.
5. Email marketing
Sign up to an online programme and you can email your contact base with regular news, offers, deals and product releases for a highly cost-effective price. Email marketing is easy, immediate, and offers enormous potential for online sales and engagement when you do it right.
Investing in your marketing
All businesses need to invest in their marketing activity to stay ahead of the curve and the rest of the competition. Although marketing does not necessarily require lots of spending, it is important to work out what you need and then spend carefully; for example, most modern businesses will need a website as a bare minimum.
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Contact our team to find out more and to get advice about the loans you need. We are here to help – and we have funds ready to lend!