Big brands spend an enormous amount of money on advertising and marketing, but as a solo entrepreneur or small business owner you don’t have to do the same to get results. You can market your business just as effectively on a shoestring budget by using one or more of these basic free or low-cost marketing tactics.
Network
Most people think of networking as circulating through a room exchanging business cards. A broader view of networking is creating a pool of contacts where you can draw clients, referrals, resources, ideas and information. You can do this via phone, e-mail, online communities like Facebook and LinkedIn groups, online messaging as well as in person.
The key thing to remember is that networking is interactive. So just as you would follow up with a prospect by placing a call or suggesting lunch, you can build your network of potential strategic partners and referral sources the same way.
Engage on Social Media
Social media is a great way to interact with your audience and spread awareness of your brand. You can use it to communicate directly with your followers, share content, build a community, and research your audience members.
Start by finding out which social media platforms your audience uses. The major ones now are Facebook, Twitter, YouTube, and Instagram. LinkedIn is a social media platform specifically geared towards business-to-business and professionals. If you don’t know which platforms your audience uses, ask them directly, run a survey, or sign up to each and look for them.
Social media sites are free to use. All it takes is an investment of a little time posting quality content and managing your account.
Produce Helpful Videos
People watch videos on YouTube to learn new things and find solutions to the problems they’re facing. YouTube is one of the world’s most popular websites and its user base spans every demographic.
For YouTube, you can create short videos that offer help on various topics. Take a simple tip and show your viewers how to do it. Make a video where you answer a commonly asked question or discuss trending topics in your industry.
You can use free video production and editing software, and it’s free to post on YouTube.
Build an Email List
Email is a highly personal way to interact with your audience. People subscribe to email lists to receive useful content, the latest news, and exclusive promotions straight into their inbox.
The best way to get people to sign up to your list is to offer something of value often referred to as a lead magnet. A lead magnet is usually an information product that you offer for free; all the recipient needs to do is enter their name and email address. In exchange, they benefit from your helpful email newsletter, quick guide, ebook, article, etc.
To get started with email marketing, sign up with an email autoresponder service. Some of these are free, while others can get costly – research the different options to find out what’s right for you. Always start with a free service or a free trial to test out the software and make sure it gives you what you need before investing.
Start a Referral Program
With a referral program, you can offer your customers incentives to tell others about your products and services. The incentive could be freebies, free trials, exclusive content, or discounts to people who spread the word. This is a great way to generate some valuable word-of-mouth marketing.
A referral program multiplies your marketing efforts. The key is to offer something that’s valuable for your customer but costs little to nothing for you to produce. Some good ideas include an information product that only takes time to create, a discount on your products, or a free ticket to your upcoming event, etc.
Leverage the Internet
You never need to spend a great deal on advertising and marketing as long as you have an arsenal of marketing tactics you can put to use. Always focus on providing valuable content that meets your audience’s needs, and you can market your business with a small or non-existent budget.
Want more ideas on how to market your business on a shoestring budget? Check out our Low Cost Marketing Quick Guide.
Debra Austin
Debra Austin is a business coach, consultant, speaker and facilitator. She helps owners simplify business growth so they reclaim there dream of business ownership. She is a graduate of Purdue University (BS) and Southern Methodist University (MBA). She is also recognized by International Coaching Federation as a Professional Certified Coach (PCC).