In any business, profits are highly important, but to enjoy a higher profit margin you also have to market yourself effectively. That presents a kind of Catch-22, because to make money, you have to spend money, and that's not always easy when you have a small budget. That doesn't mean you have to sacrifice your marketing strategies, however; with smart techniques, you can become even more successful than larger businesses with unlimited marketing budgets.
Elevate Your Social Media Marketing
Social media is hands down the easiest way to market your business when you don't have a lot of money for campaigns. You're able to reach out to current customers and attract new ones without spending a dime, although sites such as Facebook also allow you to pay for advertising. If you make smart, relevant updates that keep fans and followers engaged while encouraging them to visit your website, however, you won't need to spend money.
Don't limit your social media. There are dozens of sites that can benefit your business, including:
- Biggies like Facebook and Twitter
- Growing sites such as Google+ and LinkedIn
- And niche sites for a more personal, humorous bent, such as Tumblr or a company blog
On these platforms, you can share information about new products, special sales, and upcoming promotions. You can also invite users to sign up for an email newsletter, which is another free way to market your brand.
Share Your Company Philosophy with Stationery
Sometimes you do have to spend money on marketing, but you don't have to break your budget. For instance, you should seriously consider ordering promotional stationery from Halo. Give it away to customers, whether you own a bricks-and-mortar shop or an online store. If you have a website, include stationery with each order as a gift. Buyers will appreciate the gesture, and because it will have your company logo or letterhead, it will keep your brand in the front of their minds.
That's not the only way you can benefit from stationery, however. You can also use it yourself to send notes to customers, or print their receipts on it. If you can send out birthday or holiday notes to each consumer, use your promotional letterhead. This makes you seem thoughtful while allowing you to share your brand.
Rely on Word of Mouth from Big Buyers
Word of mouth is the best form of advertising, and it's largely free. Maybe you sell custom jewelry, for instance. Do you have followers or fans on your social media sites with blogs or pages devoted to their love of jewelry? Target users who have large followings and fan bases of their own and offer them a discount for one of your products, in exchange for a review. A positive review on a popular blog or social media account will attract new customers in droves.
Similarly, offer special promotions and deals to loyal customers. You won't lose much money, and they'll likely share their positive experiences with friends, family, and colleagues. A glowing review is worth more than the biggest marketing budget.
Sometimes you don't have to spend money to make money, as long as you make informed choices. What's your favorite type of budget marketing?