In the space of entrepreneurship, marketing is everything. Despite of the quality of your concept, the skills of your team, or even the amount of capital you have acquired, you’re in for an uphill battle if you don’t build a large and loyal customer base.
With all of the uncertainty of the previous year (2020 –COVID 19 Pandemic), various businesses have struggled to remain afloat, let alone to focus on growth-oriented marketing. However, just to survive, they’ve had to adapt flexibility on everything from their business model to their mission statement. For this cause, marketing strategies have had to take a back seat in favor of higher priority initiatives. But, over time people have become more acclimated to the ways the business world has evolved, both in the way enterprises are run and their client-facing operations.
Entrepreneurs are now starting to move beyond mere survival towards a growth trajectory in 2021. But, different traditional marketing strategies come with some unfortunate downsides that amplify for businesses still recovering from the previous year’s volatility. For example, we are aware that social media advertising works, but it’s however, expensive to sustain.
Also, content marketing is effective, but often time-consuming and requires a degree of consistency and oversight that might be difficult to maintain for an entrepreneur focused on so many things at once.
Those instances are just some of the downsides that could make you think that effective marketing strategies are still out of reach for your company. Regardless, if you wait until you have ample time and capital to dedicate to marketing, you might miss out on some valuable customers.
The following below are three (3) simple and low-cost (most times, even free) marketing strategies that you could implore right away.
There are some things in life that can’t bring more joy than getting something for free.
Specifically, when you hold a giveaway for a group of customers or clients, you leave the winners with a lasting positive impression and sense of value. On the other hand, you also implicitly encourage others to become or remain customers in hopes of winning the next giveaway.
One of the keys to a better marketing is to target customers individually and make them feel noticed, so you reap additional benefits if you can cater the giveaway to your customers’ interests. If your clients or customers are local, you can also give away gift cards for local businesses, like a neighborhood coffee shop. This will further aid you in building relationships with other small businesses and may even score you some discounted giveaway materials.
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Many business owners desire more referrals, however they rarely take the time to create a comprehensive referral system. While this strategy does require some added resource (particularly time and energy), it will actually save time and rapidly increase your revenue in the long run.
Note that a referral is valuable not just for growing your customer base, but also for obtaining credibility with your new customers. Little incentives, from personalized notes to Amazon gift cards, will encourage people to continue making referrals and make them feel like your business values them and their networks.
2020 may be over, but cold weather and continued restrictions make it feel like we’re still stuck. As the winter continues in some areas, it might be a good time to run a seasonal promotion for your services. Whether the promotion is a big discount or caution of a future price hike, it could help give both returning and new clients or customers a sense that your brand or company is focused on the future.
Despite that a lot of businesses were adversely affected or even collapsed during the COVID-19 Pandemic or, with these 3 cheap marketing strategies mentioned above, it is possible to have your business bounce back into profitability.
Are there other cheap marketing strategies currently working for you? Please do feel free to share with us at the comment section. We will be waiting, cheers!