Powerful Ways to Market Your Business on a Limited Budget

Marketing is a key function in any customer-driven business. Processes in marketing include product research and development, promotion and product sales. In well-developed companies, marketing professionals make sure that an ample budget is allocated for this purpose.

But what if a business has limited resources and only a limited amount of budget can be allocated for marketing; does the business still have the ability to reach its target market? The answer to this question is yes. Here are some ways a business can be able to market a brand, a service or a product even on a tight budget.


1. Social media marketing

In 2017, statistics showed that 81% of the population in the U.S had a social media profile. Compared to other years, this had a three percent increase. Some of the popular social media platforms include Facebook, Twitter, Instagram, LinkedIn, Snapchat, Reddit, Google Plus and Pinterest.

Each of these platforms is unique and attracts different people. This does not mean a business has to have an account for each platform but rather understand the target audience and then master a one or two that suits their target profile.

For example, if a company targets the people between the age of 18 to 29, using Instagram would be appropriate for their marketing since 64% of the group uses Instagram. The business also needs to prioritize on the most popular media which is Facebook.

Hence, for a business to be effective in creating awareness, it should focus on one or two channels and master them, where choosing has to be guided by research on the platform that works best for their product.

2. Use of scalable advertising channels

Advertising is one of the popular ways of marketing a product or service. There are many ways a business can advertise including Radio, Television adverts and even newspapers. However, all these are extremely costly ways, and it is impossible to measure their effectiveness. With the digital age, however, there are many ways a business can advertise, reach a large audience and remain cost effective.

This is by using popular online platforms like Google pay per click ads, Facebook ads and even twitter ads. What is even better about these platforms is that a business can know the exact number of reach an advert made.

3. Creating valuable content

The purpose of developing content is to give the much-needed information to the existing and prospect customers. Great content that is relevant, valuable and reliable will not only lead to huge traffic on a website but will also place the business as an expert in the field.

The content can be presented to the customers through blogs, podcasts, and infographics. A business can outsource freelance writers for the purpose of developing great content and any other assistance needed at a low cost.

4. Optimization for the search engine

Optimization for the search engine is a crucial aspect of any business to be visible among the large pool of websites on the internet; it is also one of best solution when your business is limited on budget.

Therefore, with aforementioned, a business is able to stand out through its ability to rank high on the results page. Additionally, the website of your business should also provide a better user experience whether using a smartphone, a tablet, or even a PC.

Since the visibility on the search engine not only increases traffic for a website but also creates awareness of the business brand. Therefore, making sure that the keywords are accurately used in the articles will enable the business to gain an edge on the competition and secures new clients for free.

5. Connect with complementary businesses

Businesses can co-exist in the same scope of industry thereby complementing each other. For example, in the hospitality industry, tour firms and hotels rely on the same clients, but they are in no competition.

Clients who book a tour with the firm may need recommendations for places to stay when they visit and vice versa. A new or small business with limited budget needs to find other business that complements it. It will not only be beneficial for both businesses but will also build on the credibility of having being recommended by another business. Therefore, this technique works the same way as word of mouth recommendation from an existing client.

6. Networking

Networking is a marketing strategy that focuses on building relationships rather than making money. It is an opportunity to get out of the office and connecting with people at a personal level and also learning from other people’s success stories.

Networking events include trade shows and company parties which are perfect for creating brand awareness. Other than building relationships, they can be an opportunity to meet potential clients.

7. Capture the attention of mainstream media

The mainstream media have segments for entrepreneurs and are always looking for people to feature in these broadcasts. Unique aspects of the business can be used to capture the attention. For example, these can be features like business founded and run by women or even something that has an impact on the community.

If there are none, there are creative ways to get the attention needed. An example of this is the Macy’s annual Thanksgiving Day Parade of 2015 which was watched by over 23 million people on TV across America. A stunt will get the attention and even lead to free follow-up interviews that will put the business on the map.

The stunts do not have to be big but good enough to capture the attention of the media.

Therefore, It is possible to market a brand on a tight budget. All that is required is proper research on the product, target market, the best channel of communication and creativity. However, it will also need a lot of patience and persistence.

Clients may not appreciate a product immediately, but with persistence, they learn to pay attention to the brand and soon a business starts reaping benefits.