Starting a small business can be an exciting venture full of possibilities. However, a significant key to success is marketing strategies. All business owners rely heavily on promoting and building brand awareness to succeed. However, smaller businesses don’t often have a huge marketing budget, so they must get the biggest bang for their buck in advertising and getting their name out there.
Last year, 43% of small businesses applied for a bank loan. It’s likely most of those funds were not used toward marketing. This blog will explore cost-effective yet proven small business marketing strategies that can help build your business and won’t break the bank.
1. Social Media Marketing
Marketing your small business on social media has become one of the most popular and effective ways to advise while being amazingly inexpensive. According to High Rock Studios, audiences engaged in online advertisements spend 76 times more on those products and services. It’s hard to resist clicking the button on an easy-to-buy product or service that you can use and is staring you in the face. There are so many facets to social media marketing that a few will suit your needs.
From Facebook and Instagram to TikTok and YouTube, there’s social media for every business. The key is to start with one and learn how to optimize it, then branch out. Consider posting daily, adding video content, and teaming up with influencers. Another excellent platform is LinkedIn. With over 500 million members worldwide, LinkedIn focuses on bringing business and career professionals together to network, advertise, and educate. It’s a great way to get your business out there!
2. Email Marketing
Email marketing is one of the most inexpensive and effective forms of small business marketing. The best part is it’s simple and doesn’t take time, especially if you use tools to easily design and send bulk emails. This marketing strategy includes emails to current, former, and potential customers.
The emails can contain information on products, services, and general goings. It’s always helpful to include incentives like coupons and special offers. You can collect emails through website sign-ups, contests, discounts, and small prizes.
3. Content Marketing
Content marketing aims to provide informational, educational, and other relevant content that will present you as an authority on a topic and draw people to your website. Typically, blog articles and content puts you in a position to be a “helpful partner” in the customer’s buying process, from their research to their decision to purchase from you. However, you don’t want to do hard sales within the content. For example, if you own a landscaping company, creating content about the best types of mulch or unique landscaping designs is more effective than loading up the area with why your company is the best.
4. Traditional Marketing
When people think about traditional marketing, they may think it is outdated and expensive, but this isn’t always true. While some aspects, like radio, television ads, and billboards, are costly, other traditional methods are not. Examples are good old-fashioned letters, handing out or putting up fliers, and business cards.
You know that saying “everything old is new again,” business cards fit that perfectly. Having a business card is often more convenient than looking up businesses and reviews online. As for being outdated, research has shown that traditional marketing methods remain pretty effective. So, consider a quick television commercial or radio ad if you have some extra budget.
Marketing your small business can seem overwhelming and expensive. However, by focusing on a few low-cost small business marketing strategies, you can get your business on the radar. Keep adding to it as time and finances allow, and your business will be known far and wide before you know it!