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Having a great product or service isn’t enough to win customers – they’ll never find you if they don’t know you exist. Here are some cost-effective ways to get the word out.
After payroll, marketing can be one of the biggest money pits for a small business. Giving your brand visibility in the public eye does not come cheap, but if you’re smart about how to target your customers, there are ways to do it on a budget.
Start with a plan
If you did a business plan before you started operating, you should have a section focused on marketing that you can refer to when planning your marketing activities. If not, a marketing plan should be your roadmap to reaching your target market and converting them into customers. Without one, you could easily overspend and essentially throw money away on unnecessary marketing efforts (for example, a billboard or TV ad might feel like a huge achievement, but will it bring the right customers to your business?).
Your marketing plan should, at least, include:
- Detailed information about your ideal customer – their age, gender, interests, needs and the best way to reach them.
- Your unique selling point – what makes your business stand out from your competitors? Why should customers choose your product/service over that of your competitor?
- Your pricing and positioning strategy – do you want to be known as a budget brand offering price-sensitive customers the best deals or are you a premium brand offering higher value at a higher price?
- Your budget – how much are you willing to (and can you afford to) spend on marketing your business?
- The platforms and materials you intend to use – pamphlets, social media, website, traditional advertising, etc.
MORE HELP FOR ENTREPRENEURS:
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- The number 1 reason most start-ups fail – and how to avoid it
Five budget-friendly marketing options
Word of mouth
Happy customers are your most powerful marketing tool. People trust their friends and family, so a referral from a client is a must if you can get it. Make sure each customer receives service they’ll tell their friends about, and then ask them for a referral. You could even sweeten the deal for them by offering a free gift or discount on future purchases for every new client they introduce to your business.
Social media
Navigating social media can be tricky if you’re not a regular user, but there is help out there if you need it (in the form of online tutorials or even specialist consultants or agencies). Once you’ve identified the platforms your customers are on, setting up brand accounts is free and gives you space to promote your products or services in a fun, engaging way. You can also join communities on platforms such as Facebook, where you might have the opportunity to post about your offering. Plan your posts carefully, update your accounts regularly and always respond to any questions or comments you receive. For a small amount (starting with a few hundred bucks) you can even experiment with boosting posts to people who aren’t already following you.
Tip: Social media can be another way to get word-of-mouth referrals. Encourage your customers to post about your business or tag them in customer appreciation posts.
Run specials or competitions
People love a freebie or fabulous deal. Plan a special promo or competition that will excite your existing or potential new customers. You could organise it around a special day (e.g. Valentine’s Day, Mother’s Day, Christmas, etc.) or when you need to clear out slow-moving stock. Just be careful of discounting prices too much or overspending on promoting the special – you don’t want to end up unable to cover your costs. Start small – a social media campaign that asks your followers to share a post with their friends could be all you need.
Team up with other businesses
Identify businesses in your industry that are not direct competitors and reach out to them about a mutually beneficial collaboration. That way they could introduce you to their customers and you introduce yours to them.
Enter business awards
There are various small business and different industry awards that run throughout the year. The prizes awarded could be the boost your business needs, but the hype and free publicity surrounding the awards is the cherry on top. It could expose your business to a previously untapped network of potential customers.
