Businesses usually have to spend on their marketing efforts to attract more customers. Huge organizations have the budget to spend big. However, that is not the case for smaller companies. For small businesses, resources can be tight, especially during the pandemic of COVID-19 that is still ongoing.
Limited budgets can cause challenges for how organizations raise awareness, acquire customers, and generate revenue. 39% of small business owners agree that a tight budget is the main hurdle in growing their businesses. The good news is, not all marketing efforts have to be costly.
Let us share with you some low-cost ideas (and free ideas too!) for you to boost your brand.
Take advantage of social media
There is no better way (besides that it is free) to boost your brand by making good use of social media platforms. Facebook, Instagram, even WhatsApp and Telegram can do good in promoting your business to your potential and existing customers. Be authentic and engage with your consumers. Run polls, offer live Q&As, and organize online contests are examples that you can do to keep your customers engaging with the brand.
Almost everyone now uses a hashtag on their social media platforms (regardless of personal or business). If you use it strategically, it can give you the leverage you need in your marketing strategies. Besides, it can help boost the organic reach of your posting. Hashtags can also increase your presence online. Make sure you use particular hashtags. For example, use #mekdiburgers instead of just #burgers and use relevant hashtags to connect you to your target audience.
Another marketing tactic to consider is to do cross-promotion. It allows offering your products or services for free by partnering up with a related business or brand that is willing to help market your offerings in a like-for-like exchange. Recently McDonald’s has decided to partner with the famous Korean boyband BTS by offering special BTS meals. This partnership was so overwhelming that some of the McDonald’s outlets in various countries had to close down for a few days! McDonald’s gained new customers, i.e. BTS fans; meanwhile, BTS also obtained new fans, i.e. McDonald’s customers. It is a win-win!
Get close to influencers
Within every industry, influencers are a group of power players – just like Cristiano Ronaldo to Juventus. They control the conversation, shape the contours of the market, and reach a huge audience (can be millions to some of them). Engaging these people are not cheap, especially for those with millions of followers. However, not all influencers are expensive and, if you make these people your friends (the closer, the better), they either can provide you special rates or give you in-kind instead.
Set up a customer referral program
A referral program is a marketing tactic that encourages existing customers to recommend a brand to their friends, family, and colleagues. This means that you have to work less hard on converting new people into customers. Remember, people trust their friends and families more than any other form of advertisement. Using this strategy works well because your existing customers are already fans of you and have developed a relationship with your brand. Leverage your current customers by offering free product/service or cash vouchers so they can help market your brand for you.
Marketing tactics not necessarily be expensive as there are other means to help to boost your brand. If you have a large budget for it, by all means, use it well, but if you don’t, it is not the end of the world. We can help your brand and diversify your marketing strategy to another level.
To know more, check out our website at www.avana.asia today!Tags: Hacks, Online Business, social media platforms
This post was written by AVANA