Small businesses and start-ups face an uphill task when structuring their marketing budget. The cost of launching high level and sustainable marketing campaigns is simply a pipe dream for businesses operating on shoe string budgets. However, it doesn’t have to be all gloom and doom. There are economical and budget-friendly marketing approaches you can adopt for your small business with relative success.
Industry giants and big businesses advertise to build their names and prospective sales. As a new business, you can hardly take this approach. Your aim of advertising is to get immediate results. This will involve creativity in accomplishing the target established. One tip which would not strain your marketing budget entails local publicity stints of an interactive nature. Customers are always willing to participate in market trials and promotions. Consumer interaction has been made very easy today via the internet and social media. Get creative and interact with prospective customers at very low costs.
Introduce Low Cost Products
Having a low-cost version of your product can serve you well. Some customers are looking for a bargain rather than quality products. These low-cost items can be sold besides the quality ones in order to satisfy all customers.
This same principle applies to services. You can offer normal routine services, besides premium ones for more affluent customers. Thus, you will be able to satisfy both the average bargain hunter and the spendthrift.
Make the Customers Feel at Home
The idea of being in an exclusive club is always enthralling. Consumers are excited to be part and parcel of any business in one way or the other. This is why certain bars and restaurants are frequented by the same patrons on a regular basis. You can come up with creative ways of ensuring that customers become part of your business. This can include offering them lifetime discounts on certain products or purchases above a certain amount.
Be Upfront and Genuine to Customers
It is best to stick to the facts of what you are offering, for how much and ways by which it will benefit consumers. A little humour alongside this will go a long way to getting customers hooked. Misrepresentations, half-truths and full-blown lies will not accelerate your company’s growth. Such strategies will only leave you with a bad reputation before your business is even given the opportunity to establish itself in the marketplace.
Don’t Say What You Cannot Do
This tip goes hand in hand with being upfront and honest. Small businesses are limited by their budgets to handle a certain number of customers. You should not make an attractive offer on products that will send the whole city flocking to your premises, only to be told that the stock has run out. This will leave a bad taste in their mouths and they probably will never set foot on your business site again.
The cost of marketing and promotion might seem quite high when initially setting up a business. However, these low budget marketing tips should work for most small businesses once implemented accurately.
Author Bio: This is a guest article contributed by Haliyma Barrow, a freelance writer living in New York. Haliyma loves to read books on the marketing industry, especially focusing on small businesses.