5 Cost-effective Ways to Market Your Start-up
Once a new business is up and running, the next step for most is usually to start marketing it. One potential problem to this could be that a large chunk of the budget already went into setting the business up, so there’s little left for marketing.
Yet as a newcomer to the marketplace, it is crucial that consumers know your business exists. Here, we present several recommendations designed for modest marketing budgets.
1. Strengthen your online presence.
In today’s digital age, it’s almost mandatory for companies to have a website and a page on social networking sites. In addition to reaching audiences beyond the geographical boundaries of your business location, they also serve as a ‘continuously open’ communication channel for your customers even when operating hours are over.
But that’s just the beginning; by learning to harness useful online tools such as Google Analytics, Facebook Insights and Twitter Analytics, you can get a more complete picture of your customers including their likes and dislikes.
With just a few dollars a day, you can purchase ads on search engine sites to drive traffic to your website, ensuring it does not get lost in a sea of information. Compared to traditional advertising mediums such as print ads and TV commercials, digital marketing’s affordability makes it a great option for start-ups with limited budgets.
2. Make your own printed brochures & flyers.
Creating and distributing your own fliers and leaflets may be a low-cost marketing method, but it doesn’t mean that it’s low in effectiveness. A combination of good design and print quality can go a long way in making your flyers work.
In terms of design, don’t hesitate to be creative so as to stand out from the rest of the clutter. Also, develop a catchphrase that neatly sums up your business to help consumers remember your name better. For the printing process, insist on reliable printer brands such as Canon to ensure high-quality prints that last.
3. Talk to your customers.
You will be amazed how much you can learn about what customers think about your brand simply by talking to them. But gathering information isn’t enough, you need to act on them in a timely fashion.
Once a change has been implemented, let your customers know and continue to ask them if there is anything else they would like to see improved. After all, keeping your customers satisfied is a good way to ensure they keep coming back to you.
Leverage on your relationships
4. Leverage on your relationships.
Don’t be afraid to leverage on people you know to help spread your business through word of mouth. The focus here is to educate and not sell, as you do not want to come on too strong and put people off completely.
Begin by sharing with close friends and loved ones the nature of your business, then gradually work your way to other acquaintances. As your list of contacts grow, prioritize them into groups based on how likely they are to refer business to you.
For strong supporters of your business, make it a point to keep close relations with them and take the time to educate those that could potentially become advocates. For those less interested in your business, just keep them in the loop of new developments.
5. Partner with other businesses.
When starting out, always be on the lookout for opportunities to organise tie-ups with companies offering products and services that can complement your own.
Participate in events such as Canon’s Think Big Entrepreneur Convention to network with peers and top entrepreneurs. Who know what opportunities might be presented that could help advance your business.
From joint promotions to co-hosting events, partnering your marketing efforts not only helps lower your marketing expense, it also allows both businesses to share and increase their pool of customers.
Marketing on a budget may be challenging but it is not impossible. Without the luxury of having plenty of resources at your disposal, you need to be creative, have a willingness to get your hands dirty and a keen eye for opportunity to get maximum impact.
That being said, how are these challenges any different from when you first started your business? So venture forth without fear!