You know that in order to grow your customer base, you need to focus on marketing your business. But if you recently opened your company, you might be nervous about driving up your marketing expenses and wasting money. Thankfully, there are plenty of ways to promote your products and services while keeping costs low. In addition to seeking guidance from Araix University, these tips will help you focus on advertising while staying in line with your budget.
Monitor Your Finances
It’s easy to overspend on marketing if you’re not careful - and you don’t want to end up investing heavily in a campaign that provides very little in terms of returns. That’s why it’s so important to closely monitor your finances if you’re working with a limited marketing budget.
Accounting software is a worthwhile investment for business owners who want to avoid wasting money. With accounting software, you can keep a close eye on your cash flow and revenue. The right platform will also serve as your company's invoicing software. Additionally, you’ll be able to organize all of your financial documents, including receipts, so that you can secure tax deductions while staying legally compliant.
Email Newsletter
Every entrepreneur should consider starting an email newsletter. Launching your email newsletter will cost you practically nothing, and it’s a great way to keep loyal customers in the loop. Plus, popping up in your customers’ inboxes can turn one-time buyers into long-term patrons.
How can you grow your email subscriber list after starting your newsletter? Mailmunch recommends testing multiple subject lines, using an opt-in form with a call to action on your website, and offering free incentives, like ebooks or other downloads, to entice potential subscribers. You can also segment your newsletter to target specific customer demographics with different messaging tailored to their interests and pain points.
Social Media Marketing
It doesn’t cost a penny to create social media profiles for your business. Every company should have social media profiles today! Choose a couple of platforms to focus on at first, and invest your time and energy into learning the ins and outs of these platforms to grow your following.
To continue growing your following, you can also invest in influencer marketing down the road. In order to launch a successful influencer marketing campaign, Rebrandly recommends working with influencers who fit your specific brand, going over their analytics data before sending any contracts, and browsing their follower lists and demographics to make sure that their audiences match yours.
Content Strategy
Content marketing is a very popular method of business promotion these days - possibly because it’s so affordable! Your blog content and guest posts on other websites will stay online for years to come, and you can always update content that you own. Furthermore, you can earn backlinks to other trusted websites through content marketing. To establish more backlinks, Semrush recommends creating resource pages that other websites in your niche would be likely to link to.
Face-to-Face Networking
Word-of-mouth marketing won’t cost you anything, and it can be extremely impactful! Attend free networking events in your town, let your friends and family know about new products and services that you’ll be offering, and spend lots of time engaging in face-to-face conversations about your business. This is one of the most valuable forms of marketing, as a personal recommendation is something that money just can’t buy!
It’s easy to assume that successful marketing campaigns have to be expensive. But today, you can bring in more customers by focusing on low-cost marketing channels. With these suggestions, you’ll be able to expand your audience without incurring large expenses.
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