Branding a small business in today’s fast-paced world is a hard nut to crack. Back in the day, small enterprises and family businesses attracted consumers through their individuality or word of mouth approach.
These days, people have busy lives and microsecond attention spans. Most of the time, consumers only pick up the products they have already seen advertised on TV, billboards, glossy magazines, or those with some social media celebrity endorsement behind it.
What do you do then when you are a small business with a very limited marketing budget? A bit budget-challenged? No worries.
Here are six smart ways to effectively market your business when you are on a shoestring marketing budget:
Conduct a Market Survey
People like different things during different times of the year. In order to successfully curate a marketing campaign, you have to carefully evaluate what your potential consumers respond to best.
Also, focus on your target demographic and keep their preferences in mind while planning a marketing campaign. Study your competitor’s branding strategies carefully and come up with something stronger, more dynamic, and more alluring.
Create a Marketing Budget
Right from the get-go, make it a point to create a marketing budget for your business. All investments, hard work, and dedication could go to waste if no one has ever heard of your product. So, allocate a budget to brand your product in the market, while creating excitement before it officially launches.
Create a 90-day Marketing Plan.
Take baby steps. It is recommended to devise marketing plans for small sprints; study their impacts and then strategize your next campaign in light of your findings.
Focus on Developing a Relationship with Your Consumers.
Give a face and voice to your brand; be approachable for your customers. Make sure you have an easy to navigate, eye-catching, and user-friendly website for your customers to explore more about your brand. Also, create social media accounts for your business on the platform that best suits your brand. Create hashtags with your brand’s name and interact with your consumers.
Occasionally ‘like’ a tweet/photograph/post when a consumer uses your hashtag and show them they are valued for trusting your brand. Feature your consumer’s posts on your official feed. This will help to develop a loyal relationship between you and your consumers.
Bloggers, Influencers, & YouTubers
Don’t have enough funds to get a celebrity to endorse your product? No problem! Bloggers, fashion influencers, and YouTubers are an excellent source to give your products more exposure and reach. Look for micro influence bloggers because most won’t cost a dime for reviewing products if you send them a PR package and feature it on their social media platforms.
This gives you immense exposure and coverage. Hire YouTubers for sponsored videos about your products and services. It costs less than filming a TV commercial and hearing a recommendation from a real person has a different impact on your consumers, especially if it’s a YouTuber they trust and love.
Giveaways, Coupons, & Consultations
If it's in your budget, try to offer freebies to your target demographic. It’s an easy way to get people to try your products and services for the first time.
Also, hosting giveaways on your brand’s social media accounts is another way to enhance your following and offer people free products to try. As of late, live sessions on Facebook and Instagram have garnered massive popularity among audiences. Offer free live consultations to your customers about your products via social media and develop their interest in your products.
If you formulate a smart marketing plan, you can have an immaculate branding campaign for your product on a very limited budget.