One of the major hustles for startups and small businesses is to figure out the key to effectively market and scale with a restricted budget. It can become tricky to decide where to invest your limited capital and resources in marketing in order to record more conversions.
While there are numerous types of marketing strategies to try out, small businesses should smartly invest in the ones that give a higher return on investment. So, here are a few of the expert-recommended marketing strategies that every small business owner can afford and are bound to produce guaranteed results.
With the growing competition in the marketing sphere, getting into SMM or social media marketing has become an absolute necessity. By building your online presence, you not only get the chance to market your business freely but also build a community around your brand, company, and product. Moreover, it allows customers to trust your brand by seeing the latest updates and checking online reviews. And the best part? It is the most affordable tactic to lure more customers.
Content marketing is an impressive strategy to gain more leads through content creation. Publishing different forms of informational content on different platforms which are relatable to your target audience allows you to build customer trust and increase your site’s domain authority through backlinks. As a small business, you can even consider DIY marketing research where you have to find the right tools to track your company’s growth through different channels.
From blogs and infographics to e-books and even video content, make use of everything to help build a strong customer base by answering their questions and providing reasons why prospects should choose you.
Reportedly, 89% of marketers use cold email as a powerful marketing tool to generate leads. It is also an affordable, scalable, and effective medium to target potential prospects with a higher rate of conversion. Before you execute a cold outreach campaign, have a list of your targeted customer persona, and have experts create an enticing email body that will lure the prospect into your product or service. Tell them why they should choose you and what benefits they’ll get from your service. Follow this process by scaling your outreach strategy through different marketing tools. Lastly, don’t forget to follow up with your prospects and shoot emails to record more conversions.
Investing in PR and earned media for scaling your business is a great marketing tactic for small businesses. Not only do you get a credible third party to promote your business, but you also get a huge exposure to their existing audiences, which further increases your reach in the market. The interesting part is that PR strategy will not cost you a fortune; rather, it will be under your budget and worth the investment.
Affiliate marketing is a cost-effective strategy to promote your products and services and build sales without covering fixed marketing costs, including advertising. These affiliates can be influencers, content publishers, or coupon sites, and you can structure the partnerships to pay out based on successful leads or sales.
Small businesses can have difficulty investing in bigger and more expensive resources to expand their business. Fortunately, there are a few marketing approaches that don’t require hefty investments and also ensure successful results when used the right way.