According to HubSpot, the third top marketing challenge for companies is the lack of budgeting resources. Unless you are a startup with venture or angel capital, you probably have a limited marketing budget.
Here some ways you can market your business on a limited budget.
1. Create Valuable Content
Not only do potential customers love great content, but so does Google. There are many ways to share information — blogging, creating videos, hosting podcasts, designing infographics or submitting articles to online authority sites. Not only do you gain authority as an expert, but you also get free traffic. You can also offer to be a guest blogger for another complementary website or be interviewed on a podcast. If you run out of ideas, you can repurpose old content and give it a new spin.
You don’t always have to produce the content yourself. You can hire freelance or agency writers, graphic designers, and personal assistants. PSST…. we are always here to help, with any budget.
2. Build a Referral Network
Referral networks and referral partners are invaluable for any company. It doesn’t matter whether your selling loans and development finance, or software development, without referrals, you will have to work twice as hard to pull in new customers.
Unless a referral comes in unexpectedly, you need to ask for them. Ask early into a new client relationship, when they’re getting used to the service you are providing and more likely to tell others. Making referrals a natural extension of this new working relationship. You could offer a percentage off next months invoice. Or a gift of some kind: an Amazon voucher, bottle of wine, box of chocolates, or something personal that shows how much you value the referral.
3. Build Brand Awareness, and Connect with Potential Customers
Brand awareness represents how familiar your target audience is with your brand and how well they recognize it. Brands with high brand awareness are generally referred to as “trending,” “buzzworthy, or simply “popular.” Establishing brand awareness is valuable when marketing and promoting your company and products, especially in the early stages of a business.
Social media is a great way to further your relationships with your customers and give prospective clients additional avenues to find out more about your company. By improving your own social media presence, you can build brand awareness at little-to-no cost.
About 90% of marketers say that social media generates immense exposure for their company, so capitalizing on this opportunity is essential to growth.
4. Help Yourself by Helping Others
Helping others can dramatically benefit your business. Helping is the new economic currency that can revolutionize businesses in every industry. Reaching out to others doesn’t have to take a lot of time. Make it a goal to invite someone out to lunch or coffee at least once a week and ask them what’s going on in their business. Offer your insights and expertise. Listening to others makes a lasting impression and makes people feel valued.
Eliminate the stress of lead generation in your business, and just offer your help instead. You’ll end up on a path towards authentic relationship building where your potential clients already know who you are, what you’re about, and what you can offer.
Having trouble getting a leg up on the competition? Crush them by showing your network how you can best serve them. When you take the time to help others, they get to see your expertise in action. Think of it as a mini-consultation, but with the expectation of building relationships and helping instead of just getting hired.
Helping others figure out how to grow their businesses and create passive income has always been a labor of love, and can make a direct impact on your community.
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