5 Low Cost Marketing Strategies for Small Businesses

June 6, 2017

If you are running a small business your budget for brand building is unlikely to be high. However, you cannot afford to ignore marketing efforts to build your brand and expand your customer base. A small business has to be aggressive in having a visible brand if it wants to maintain consistent growth. With the right strategy, a small business can use the available resources very well to make optimized effective marketing campaigns.

Right targeting

You must be speaking to an audience in your marketing. This means you have to know your market well to craft the marketing messages. There are many data analytics tool at your disposal including Google’s analytics which is free and offers tons of data.

The good thing is that digital tools allow for pinpoint accuracy in targeting. For example, Facebook marketing allows you to define your audience age, location, interests, and topics and so on. Targeting the right audience gives your marketing campaigns bigger impact.

Right medium

If you are marketing to 18-22 yr. olds, doing it on radio is a waste of resources. You are more likely to find this audience on Instagram or Snapchat. Place your ads where they are likely to be found by your target audience.

Analyse well

It is absolutely necessary that you evaluate how well your marketing campaigns are performing. Online marketing platforms like Facebook advertising give good feedback on how your adverts are performing. You can see how many people clicked on the ad, where they were from, what other sites they visited and so on. If you are doing conventional marketing, set up a communications line dedicated to the marketing campaign so that you are aware of how many respondents you are fetching.

Right timing

What kind of product/service are you selling? When does the demand for this product/service peak? These questions will help you craft the right message at the right time. Trying to sell Christmas related goods in October is not very savvy. But you can start putting out your ads in November. If you are selling year-round products/services look at what the competition is doing and try to match or outmanoeuvre them.

Right branding

How well can your current customers identify your logo and colours? Strong brands like Coca Cola or Mercedes Benz are instantly recognizable by their logos or colour. Put some thought in the design of your logos, trademarks and colours. After you come up with what you think works well, stick to it in all your marketing. This helps imprint it on your customers’ minds for better brand loyalty.

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