Top 6 No-Budget Marketing Tips
Marketing is something that can make or break a business. Marketing is defined as “the action or business of promoting and selling products and/or services.” Many new businesses hear marketing and all they process is money down the drain. It doesn’t have to be that way! If you’re running a low-budget or no-budget business, these 6 marketing tips can help grow your business with a cost you can handle.
1. Take the time developing your marketing strategy
Before spending ANY money on marketing, you need to be 100% clear in what your goals and strategy are. Ask yourself – what is your main objective? What do you hope to achieve from marketing? These two answers will help you to define a strategy. If you need more help getting a detailed strategy – stay tuned for our post on creating a full-fledged marketing plan at no cost.
2. Research your competition
When it comes to researching your competition, there are a few key things to look for. Is there audience your ideal audience? How are they grabbing them? What does the average cost look like for the product or service you offer? It helps me to write out my research. Grab a pad and pen!
Once you have researched your competition, take that to find the holes in the market. What do you think is needed but not really being offered? For me, I noticed that most marketing consultants or graphic designer charge what could take years for a business to cover. So, I started looking for ways to offer the same quality services for a more budget-friendly client.
3. Volunteer for presentations or public speaking
A great way to show what you know without spending anything is to find local businesses (try your local chamber of commerce) and volunteer/sign up to do a presentation. When I was first getting into marketing, I worked for Keller Williams Real Estate. A wonderful thing they did for their real estate agents was hold free presentations and classes at their office. Everything from tips from other agents to presentations from a local title company to a local cleaning company!
This helps you do two things. Expand your connections and show off your talents to an audience you may have no otherwise reached.
For tips on presenting your services, stay tuned for my piece on developing an engaging presentation.
3. Connect with bloggers
Some say that blogging is on it’s way out. Well, you’re reading this aren’t you? Blogging is a great way to get out information to a large group of people with little work on your end. My suggestion? Offer your services to a blogger in need! I do tons of free work with my blogging community in exchange for feedback, tips, and kudos where I deserve them.
Be careful, take the time to find a blogger you connect with. Otherwise you risk coming off as disingenuous or needy.
4. Don’t underestimate the power of a referral
This one is HUGE for me. 85% of my clients are referral-based. That’s a large amount! Think carefully about creating a fun and useful referral program. I offer two weeks of social media management for every new client that gets referred or two hours of freelance work.
5. Leverage your LinkedIn
Small businesses tend to focus on the main social media power players. Facebook, Twitter, and Instagram get tons of love. But, don’t leave out LinkedIn! This platforms offers access to discussion groups, networking, and helps establish your business as a powerhouse contender. Don’t take advantage of it, though. You can rise through the ranks just as easily as you fall.
6. Create a monthly newsletter
One of the easiest and most efficient ways to stay on their mind’s is by doing a newsletter. If the thought of a newsletter is overwhelming, don’t let it be! You can do anything from a weekly post newsletter, to a monthly update, to a seasonal offering. Newsletters are not one-size fits all. Find what organically works for you and your business. I recommend MailChimp!
If you can master these 6 tips – you can rock the marketing world with little to no budget! Do you have a great marketing tip to share? Let me know in the comments!
Have a wonderful day and be kind, Bre