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Low Budget, High Impact Marketing That Won’t Break The Bank

Are you marketing on a low budget?

Not to worry, there are effective marketing strategies that won’t  cost you much money.

To prove our point, we are going to show you marketing ideas that are low in cost, but high in impact.

Let’s see how long those bucks will last! Here are our tips:

Marketing on a Budget

1. Gather referrals

Gathering referrals is extremely cost-effective for businesses.

Extravagant campaigns don’t quite compare to the referrals of a satisfied customer.

That’s because referrals add the human element involved in the selling process. That ‘human element’ is usually taken away when everything is digitally marketed.

Besides, referrals make for excellent word of mouth marketing.

Entrepreneur says it best, “it’s conversations, not technology, that truly makes a difference.”

Oh, and did we mention that referrals are great for SEO, specifically off-page?

While on-page is equally important, an off-page SEO strategy will make search engines trust you more.

If done correctly, referrals can help you rise from the ranks and land on the first page!

2. Network with groups

Networking is one of the most inexpensive yet effective ways to grow your business.

By establishing rapport with other business people in your industry, the possibilities are endless.

Small business owners like yourself take advantage of networking to form relationships with other people in related fields.

Because remember,  it’s not about what you know, but rather who you know.

Every opportunity to socialize and connect with people is an opportunity to network your business!

Put yourself out there! Your business visibility increases with every new person you meet and connect with.

There is an app called Meetup that allows you to find upcoming networking events near or within your area.

Give it a try!

3. Market via email

People probably keep telling you that email marketing is dead.

That’s far from the truth.

In fact, more than 59 percent of marketers say that email is their biggest source of ROI.

That means more benefits without additional cost!

And that’s exactly what low budget marketing is all about.

When visitors sign up for your newsletter, offer them exclusive content as a way of saying thank you.

By taking care of your email list, your subscribers will soon transform into loyal customers.

Like Brian Dean, you should also try creating an exclusive newsletter that only your subscribers can access.

This will make them feel very special!

4. Produce Superb Content

When you’re running on a tight marketing budget, content will save you.

Content marketing can come in many forms, but they never require you to spend money (unless you plan to purchase content marketing tools) if you don’t want to.

Image via medium.com

The simplest way to produce superb content is by starting a blog.

Blogging is the easiest, most cost-effective way to market your business, and you can do so without punching a hole through your wallet!

But what if you know nothing about blogging?

That’s easy. There are thousands of resources online that can teach you how to write for websites or how to produce SEO-optimized blog posts.

Other than that, content repurposing can also bring back the life of your old content.

Regardless of your strategy, always remember that content is king, especially in digital marketing!

5. Guest Write

Since we’re already on the topic of content, another budget-friendly marketing strategy is guest blogging.

Image via prepostseo.com

This is your chance to connect with authority websites or publications in your industry and write for them!

If you guest write for a highly-authoritative blog, you’ll get noticed by a bigger audience.

And in return, you can generate hundreds of targeted visitors to your website!

Brian Dean gave a comprehensive guide about guest blogging. Read it here.

6. Do a Contest

Contests are usually done in the form of online promotional giveaways.

Because who doesn’t love free stuff, right?

When formulating the mechanics of a giveaway, influencers usually ask users to follow their page, tag three friends in the comments, and share the post.

Be sure to include your product or service in there, like a one-year free membership or a newly released product.

Here’s how Hydro Flask does it:

You really don’t need anything pricey to reel in participants.

By holding a giveaway online, users will start following, commenting, and sharing your content in no time!

And when you’re lucky, these participants can transform into potential leads.

7. Master the Elevator Pitch

Let’s say you were in an elevator with a renowned businessman with high-ranking authority in your industry.

Now is the perfect time to pitch your business to him, in hopes that he could pull a few strings and help you out.

Whether you’re attending a PTA meeting, participating in a local event, or just hanging out with friends, there is always an opportunity to market your business.

Cue in the elevator pitch!

Image via lynda.com

An elevator pitch is a brief, persuasive speech that is used to spark interest in your business.

Since people have such short attention spans, you must begin your elevator pitch with a bang!

If you fail to catch the audience’s attention within the first few seconds, try again next time, buddy.

So, what makes a persuasive perfect elevator pitch? Here’s how you can get started:

  • Include social proof and client testimonials about your product or service.
  • Don’t talk about the boring details of your business. Instead, tell them how you can provide a solution to their problem.
  • Know what motivates your audience and use that to your advantage.
  • Speak clearly, and establish eye contact.

Conclusion

These are just a few of the marketing strategies that won’t break your bank.

You see, marketing is not a luxury. It doesn’t have to be expensive!

What do you think is the most budget-friendly marketing idea on this list?

Leave a comment and let us know!

References

Marrs, Megan (2019 Aug 1). WordStream. 22 low-budget marketing ideas for small businesses. Retrieved from https://www.wordstream.com/blog/ws/2014/10/01/marketing-ideas-for-small-businesses

Rampton, John (2019 Feb 1). Entrepreneur. No money? No problem. 30 low-budget marketing ideas for your business. Retrieved from https://www.entrepreneur.com/article/327097

Tie, Tony (2017 July 21). Entrepreneur. 9 low-budget marketing strategies every startup can afford. Retrieved from https://www.entrepreneur.com/article/297515

Zahorsky, Darrell (2018 July 30). The Balance Small Business. Low-budget high-impact marketing techniques. Retrieved from https://www.thebalancesmb.com/low-budget-marketing-techniques-2951241

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