Posted by Kim Coleman on September 1st, 2017
From payroll, to office leasing fees and or mortgages, to raw materials, and other operational costs, many types of small business can face challenges. During this time, many entrepreneurs end up deserting their marketing and advertising investments. Neglecting these investments can suppress a business’s growth and development, leaving it to collect less revenue and restrain the budget.
Although there are a lot of high level and high budget marketing strategies that may bring more visibility to a company, there are plenty of efficient and effective marketing strategies that don’t cost a lot of money. Not yet convinced? Consider these low-budget marketing strategies:
Content and website marketing can take many forms and most of them are not ridiculously expensive. The simplest approach is to promote yourself or your business with your local Chamber of Commerce, local TV stations, and local radio stations. All of these forms have the ability to improve your brand reputation, increase traffic, and compliment the other strategies you utilize.
One of the easiest and greatest ways to promote your business is to avoid marketing altogether. Rather than spending hundreds, maybe even thousands, of dollars on advertising; consider utilizing a referral program. Referrals allow your customers and clients to do the marketing for you and depending on how you structure it; it may be entirely free of cost to you. If you want to provide an incentive for your customers, you can offer discounts or rewards. If you plan to use this strategy, make sure to get word to your customers about your referral program.
Many agencies use media outlets to promote events and businesses. This is a free and inexpensive way to get your brand mentioned in major publications, on TV, and on the Radio! If you were to decide to do all the work yourself, i.e. hunting down and contacting all of them, press and news features can actually be a great free marketing strategy!
Whether researching, browsing, or shopping, many people spend a majority of their time online. Investing in improving a company’s search engine optimization is well worth the while. Although it seems complex, identifying and listing relevant keywords can attract high traffic to your website. It’s a lot of work, but if you do it yourself, your only cost would be the time it takes to put it together. The long-term benefits of updating a company’s SEO are enormous.
Promoting your business on social media isn’t necessarily something you can do casually, but it is easily available and it’s something you can master if you invest the time. Not sure you’re reaching the amount of page engagement you had hoped? Boosting a post is relatively inexpensive allows you the opportunity to select the objective, audience, budget, and duration of your post. Many social media outlets provide you with insights to show you how many people your posting has reached as well as the amount of engagement given.
Email Marketing is one of the most cost-efficient marketing strategies in existence. As long as you have a good list of contacts and a steady stream of “email blasts”, you should be able to see a significant return on any time or money you put into it.
The best part of all of these strategies is that the Casper Area Chamber of Commerce offers all of them! As part of a chamber membership, members are given the ability to attend any business after hours on a complimentary basis, attend any luncheon at a discounted rate, 411 information center exposure and referrals, complimentary news and press release postings on the Chamber website, add keywords and update your business profile within the Chamber Membership Portal, share fun and exciting news on Chamber Social Media, and utilize your complimentary e-newsletter submissions in one of the Chamber’s Weekly E-Newsletters! In addition your membership dues are 97% tax deductible!
If you find yourself struggling with your business’s budget, don’t resort to cutting marketing out of the equation, instead, find a new and creative way to build recognition for your products and services that don’t require a significant amount of money.