There comes a time for every business where they need to reassess their marketing spend, and look at ways to save money.
Standing out from the crowd, and generating more success than your competitors doesn’t have to break the bank. There are hundreds of ways you can cost-effectively market your business but I want to share with you my top seven.
Infographics are a great way to showcase important, trending content in a very visual and engaging way. They are a powerful tool when it comes to marketing your business, especially if your infographic is created correctly.
To help you create an infographic, use Visme – it is a professional image-creation tool and is completely free of charge. An alternative of mine would be Canva, especially if you already know how to use this platform.
Top Tip: Always add a watermark to your infographic so that when it is shared online, people know it was you who created the infographic.
2. Actively Engage On Social Media
Your audience are using Social Media as a way of engaging with businesses, and find new products/services to get behind.
Top Tip: Find out where your target audience are most likely to hang out and focus your efforts there. Try not to spread yourself too thin across multiple platforms and just focus on the networks that drive engagement.
3. Influencer Marketing
With 75% of marketers using influencer marketing, it shows that it is a powerful way to market your business.
The idea is to have people who are influential online spread the message about your business for you. This type of marketing can be in the form of blogger reviews, Social Media posts, endorsements and various other forms of content. If you are going to go down the route of influencer marketing, think about having a story to tell, setting expectations and starting small.
Top Tip: Work with a smaller influencer to stay on the cost-effective side, and to make sure that you time and money is being spent successfully.
To read more on influencer marketing, take a look at previous article I wrote here.
4. Nurture Your Email Database
One of the most important and powerful ways that I market my business is through email.
It isn’t just about pushing information to my audience and hoping it sticks, it’s actually about nurturing your database. Depending on the actions that my audience take, they receive specific information for them, rather than something generic.
Top Tip: To make sure I was getting the most out of my audience, I spent a lot of time finding out which email marketing tool would give me what I’m looking for. Do your research, and find the right email marketing tool to help you achieve your nurturing goals.
I have delivered over 300 webinars, and generated 1000’s of leads. Webinars and live streams are (for me) one of the best ways to market me and my business, and position myself as an expert in my industry. This, in turn, builds trust, generates leads which turn not only into paying customers, but repeat customers and brand advocates
Running webinars can be extremely cost-effective, especially when you look at generating hundreds of leads for giving just an hour of your time, and small monthly costs around marketing the webinar, and using a webinar software tool.
Top Tip: Build partnership with industry-specific event organisers to increase your reach, and engage a new audience.
To find out how I use Webinars to generate leads, and increase engagement, click here.
6. Video Marketing
Using video to market your business is extremely powerful. Having a video in your email marketing will increase your click-through rate by 200% – 300% and including a video on a landing page can increase conversion rates by 80%.
Video Marketing is here, and it’s here to stay. If customers are 64% MORE likely to purchase your product/service after watching a video what are YOU doing to make sure that you are converting as many potential customers into paying customers?
Top Tip: Create a YouTube account, and post all of your video content on there.
7. Loyalty/Referral Program
If a member of my community has purchased a course of mine already, I will always offer a discount for the next course they take. I will also allow them to offer a course to friends/colleagues for a heavily discounted price too. This is a great way to build trust, and credibility.
Top Tip: Don’t just limit the “giving” to a loyalty or referral program. Think about running contests and giveaways as a great cost-effective way to generate sales for your business.
What cost-effective ways do you market your business to your target audience?