6 Best Marketing Strategies For the Business With No Budget
Building your brand doesn’t need to break the bank. But, until your business is ready to make the investment in ad spend, you’ll need to find ways to creatively reach your customers. These six strategies can help you organically grow the impact of your products and services.
+ Leverage Social Media
By now, this one’s obvious. Facebook, Instagram, Twitter, Pinterest, Linkedin—these free social media platforms allow businesses to reach billions of users organically. In fact, Facebook alone boasts more than 2.38 billion users. With that kind of potential, your business can reach exactly who you’re looking for.
However, because these platforms operate with algorithms that control your profile’s visibility, your organic growth must be strategically planned. If you’re unable to purchase targeted ads in exchange for views, consider alternative ways to engage an audience:
Host contests and giveaways
Post visually captivating photos and videos
Share helpful and informative articles
Utilize events and invite attendees
Ask questions
Create polls
Create viral content that people are likely to share on their own profiles
Contribute to thoughtful discussions and engage with your audience
The most important rule of thumb when creating content for social media is to post the information you’d like to see as a consumer. Thinking like your target audience before posting will ensure you’re not spamming your customers with salesy garbage or flooding their timelines with empty information.
+ Use Google To Your Advantage
First and foremost, it’s essential that you create a Google My Business page for your company. According to research at Statista, Google currently holds nearly 90% of the search engine market. Creating your free Google business page ensures that you show up when customers search for your business, local industry suppliers, or other related information. Most online searchers use Google, and if your business isn’t showing up, you’re seriously missing out on free traffic.
Another way to use Google to your advantage is to boost your search rankings by optimizing your website. Through Search Engine Optimization (SEO), you create signals for Google’s web crawlers that recognize your business for certain keywords. So how do you optimize your website? One easy way is to start a blog of industry-heavy topics that your customers will want to read. Bonus: blogs also provide fresh content for your social media accounts and email newsletters.
+ Connect With Local Businesses
Creating a referral network is a great way to use your offerings to your advantage and find other local businesses with complementary services. For example, if you’re a mortgage broker, consider connecting with a trusted attorney or real estate agent. Each business offers a different set of services, and each could refer clients to the other. Customers trust your expertise and would probably trust your recommendation for a different set of services.
Moreover, in the spirit of collaboration over competition, don’t be afraid to contact your direct competitors. Perhaps they offer something you don’t (or vice versa). Or maybe there’s an event you can co-host to attract an entirely new set of customers. The market is big enough for everyone, so creatively use your resources to your advantage.
+ Make A Deal
Don’t have the cash to pay for services your business needs to grow? Maybe you can make a trade. Common in the small business community, bartering and trading goods and services can benefit both parties immensely. Maybe you’re a web design company in need of legal services, or maybe you make logos and your business needs video content. Your exchange can establish a strong working relationship, and even a new referral source if you do a good job. While you may not be able to swap your services every time, it doesn’t hurt to ask.
+ Start An Email Newsletter
Email marketing has the potential to become your biggest source of business. In fact, research from Oberlo states that you can expect an average return of $32 for every $1 spend on email marketing—a huge ROI compared to other marketing investments. This is especially valuable when retargeting prior customers. The U.S. Chamber of Commerce suggests that 80% of your business will come from 20% of your current customers, so staying in front of them with valuable information is critical in maintaining the relationship.
In your newsletter, be sure to provide information that adds value to your customer’s journey. Discuss what's new in your industry, on your website, or in your community, but be minimal in promoting products or services. You don't want to abuse the trust of your list by making subscribers feel sold to.
+ Get Free PR
As the founder of your business, you're in the position to tell your story better than anyone else. You don't need a high priced firm to handle your publicity. Consider writing guest blogs for other local businesses, submitting press releases with new changes and events in your brand, or even spotlighting clients or other companies for a community publication. Using your words to get your name in front of other outlets can put you at the forefront of thought leadership in your local industry.
Your limited budget doesn’t have to restrict the reach of your marketing efforts. Interested in more free tips to build your business? Subscribe to our email newsletter for new blogs, business and personal development book recommendations, and our latest offerings. Don’t miss out!