While traditional marketing strategies are quite effective, they can be financially burdensome for small businesses. However, with the growing competition in the business world, you can’t survive without any marketing tactic.
So, should you exhaust your funds to run your small business?
Of course not!
Instead, you must embrace innovative marketing strategies that are low-cost but effective.
In this guide, we’ll share some cost-efficient tactics to enhance brand awareness and reach with minimal investment!
Promote referral schemes
Word-of-mouth has always been the most effective marketing strategy. In fact, statistics show that 92% of consumers trust referrals from close ones more than other advertising methods. So, motivate your present customers to refer your business to friends and family with a referral plan.
For every successful referral, reward your existing customer with a discount or freebie. An attractive referral scheme will create great buzz about your business. You must also promote the scheme on social media platforms to reach more people.
However, research whether the discounts/freebies against every referral is worth it. Don’t make a huge loss trying to market the business. Ensure your business can handle the expenses from the scheme.
Attend networking events in person
In this digital era, most people assume that networking via social media platforms or attending virtual events is enough. But the reality is far from that. You must attend in-person networking events to stay on others’ minds.
If you’re worried about spending a fortune on these events, don’t join the membership-only groups. Instead, consider the smaller and more affordable events.
There, you’ll find lots of like-minded people and other small business owners with similar values.
Connect with them, grow your reputation, and you’ll find several business opportunities. So, before attending these events, invest in metal business cards with QR codes.
You can tap these cards against your new connections’ devices and save your contact details on their devices. So no more worries about your connections losing your card!
Plan competitions online
Another cool way to market your small business online is to hold competitions with attractive prizes. Ask your followers to like, comment, and share your content or post a funny video with a specific hashtag while mentioning your business.
Set one of your bestseller products or services as the prize. If you want, you can also select any other prize. Just make sure it’s something customers would actually compete over.
It will help your business become more known to others without burning a hole in your pockets.
Seek customer testimonies
Identify all of your satisfied customers and ask them to share authentic testimonies about your products and services. Remind them to list all the things they admire about your company, how your product or service meets their needs, and why you’re the greatest option in your industry.
You can seek testimonies in writing, voice notes, or video. Ask them to drop a name and their picture as well for written and audio testimonies to make it more believable.
Upload the testimony on your website homepage towards the first half and social media accounts. This will attract viewers’ attention and ensure they know why your business is worth it.
Offer value to your customers
On social media platforms, don’t just ask viewers to buy your products. This makes them feel like money-producing machines instead of valuable customers.
Rather, create valuable and useful content. For instance, share unique ways of using your products in daily life. Post videos about the benefits your product offers. Show how your product is better than most others in the market without mentioning competitors.
However, you must identify your target audience demographics and create content in their style. This way, your content will be more relatable and your business offering a hit!
Keep an eye on special events
Track whether there are any affordable trade fairs or special events occurring in the locality. Avoid the nationally/internationally recognized events, as they’ll make you shell out too much money.
Book a slot for an exhibition and prepare to show off your business offering. You can also wait until the last minute to get an extra price drop.
However, be cautious as they might also sell out all slots.
You can also book a slot in partnership with another local small/medium business.
Use your table to showcase both businesses and reap the benefits together!
Conclusion
Implement these marketing ideas to boost your small business sales. Get started immediately to shine among the competition!
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