How to Market Your Small Business on a Tight Budget
A business' ability to market themselves has become increasingly important with the rise of innovation. However, for many small businesses, budgeting for a proper marketing campaign may prove to be too costly or inefficient. Luckily, there are many different options to choose from while also keeping in mind a limited budget. The following are 8 methods split into two categories that will allow for your small business to thrive in the best possible conditions.
Offline Marketing Techniques
Meetup Groups, Chamber of Commerce organizations, or service clubs are examples of business networking opportunities that can be used to generate traffic to your business. This is made even more important as the connections made in offline networking are far more reliable, stable, and effective than those made online.
2. Business Collateral Distribution
Marketing materials such as business cards, brochures, flyers, or t-shirts are not only low cost but are a good way to distribute business collateral and attract attention to your business.
3. In Person or Telephone Solicitation
Although outdated and often labor intensive, pursuing clients by knocking on doors and phone calls still works and is a much cheaper alternative to paid advertisement.
4. Guerrilla Marketing
A very diverse method, with many different alternatives to choose from, Guerrilla Marketing is both a cheap and affordable form of advertising. Options like street art, can be a creative and fun alternative that provides exposure to a large number of people. Public stunts (Flash mob) are especially creative and attract a lot of attention in high traffic areas
Online Marketing Techniques
5. Website Marketing
Building your own website has many advantages that your business can easily benefit from. A website built by you can be specifically customized for your needs and wants. It is also surprisingly easy to do while also affordable.
Blogging is an easy way to attract people through social media websites and can easily gain further attention given time and experience. Long-form, high-quality blog posts can help you establish your reputation as an authority in your niche.
7. Email Marketing
By driving traffic to a landing page or an opt-in form on your website, blog, or mini-site, you can attract subscribers and build long-term relationships with prospects
8. YouTube Marketing
Boasting over 3 billion views per day, YouTube is one of the biggest video sharing sites in the world. That said, it's easy to see why it's a great tool and many small businesses have begun to use videos in their marketing strategy, as they should. Consumers have been shown to be highly responsive to this method.
With so many options and such limited finances, budgeting and mapping out a marketing strategy can be overwhelming. However, in the end, it's all about finding what is best for you and your business, one step at a time.
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