By Emma Miller
Whether you’ve just started a company, or you’ve been doing business for a while now, it’s in your interest to find a way to cut on the expenses. Since marketing has always been one of the most costly aspects of conducting business, reducing the costs in this area can result in a budgetary increase. Instead of opting for high-budget marketing solutions, you should consider alternative ones that are just as efficient, but more affordable.
Develop a referral system
Establishing a referral system is a great word-of-mouth advertising option that will save you a lot of money. All you need to do is set a fee that you will pay your employees or business colleagues for each referral that they bring to your business. Apart from promoting your business, you will engage your employees and motivate them to help you out.
Collaborate with other businesses
Another marketing solution that will help you cut expenses is teaming up with another company. By collaborating with a business, you can share the marketing costs, while still reaching the public. Additionally, this will help you establish a successful business relationship with another business owner, which will be beneficial in the long run.
Create a website
Owing to the many perks of the Internet, you can now easily promote your business worldwide without spending a small fortune. Creating your own website has never been easier thanks to numerous online free apps that you can use even if you don’t have the required experience in the field. You can easily find a step-by-step tutorial that will help you create a website in no time. This is an efficient promotion option that will help you establish online presence, which has become one of the prerequisites of having a successful business.
Start a blog
Another simple, but efficient way of promoting your business online is starting your own blog. Apart from marketing benefits, using a blog will help you establish a better relationship with your clients. You can post content about the latest news in the field, inform your customers about the happenings in your company that might concern them and address their particular problems and needs. The key to successful blogging is posting content regularly, since you don’t want to be forgotten in the sea of other blogs.
Join a social network
When you consider the fact that there are 2.34 billion social media users and that the number is expected to rise in the next couple of years, you cannot deny the importance of social networks for marketing. By using social media such as Facebook, Instagram, Pinterest, Twitter or LinkedIn, you can establish a network of customers from all over the world. In addition, you can collect valuable information about your clients and their demographics, which you can use for improving your marketing strategies or developing new ones. Of course, to use social media successfully, you need to post both written and visual content, respond to customers’ comments, and be active on a regular basis.
Create quality content
Whether you join a social network, or you opt for writing a blog, you need to create content of high quality. Firstly, the content you share shouldn’t be solely based on promoting your business and talking about you. Instead, you need to focus on your customers by addressing their problems, and finding possible solutions. This will make your content relevant to their needs, which will result in their interest and loyalty. Secondly, your content should be compelling and interesting, which means that, from time to time, you should create content that will entertain your target audience. If you address only the business issues, your customers can easily get bored and move on to something more amusing. Finally, regardless of particular topics that you choose, you need to make sure to base your content on valid and reliable information. This will show your clients that you are trustworthy, which is of utmost importance for gaining their trust.
Opt for traditional marketing options
In the midst of all the possibilities the Internet offers, it’s easy to forget about the traditional marketing options that are just as important for promoting your business. Instead of spending a fortune on a high-budget marketing campaign, you can opt for printing services for creating promotional material as one of the cost-efficient ways to advertise your business locally. Furthermore, if you hire several students to hand out flyers or business cards, you will bring the expenses to a minimum.
As a business owner, you should develop a marketing strategy that will help you increase your budget. Therefore, you should opt for simple, but efficient promotion options to reduce unnecessary marketing expenses.
Emma Miller is a marketer and a writer from Sydney, Australia. She focuses on digital marketing, social media, start-ups and latest trends. She’s a contributor at Bizzmark blog.