5 Powerful ways on how to market your business on a limited budget

One of the most common marketing challenges businesses have is a lack of budget resources. While traditional advertising methods can be costly, and hard to measure, small businesses have never had greater access to cost-effective trackable marketing tools. Here are some ways you can market your business on a limited budget.

Outsmart your bigger more prominent competitor.

The use of guerrilla marketing is not ‘new’ news, many smaller businesses with limited budget have been out smarting their competitors whilst creating a stir in the marketplace. It really comes down to how best you can leverage your creativity, imagination and originality. Here are a few examples:

1. If you have business premises, pay someone to create eye-catching art with chalk.
2. Employ undercover agents to promote your product directly to potential customers e.g. mobile phone.
3. Organize a flash mob to create excitement among the crowd to promote awareness.
4. Order loads of helium balloons to promote your business in a festival or conference set up.

Socialise on social media.

According to Ornico a brand intelligence organisation, the number of Facebook users in South Africa increased by 14% between 2016 and 2017 reaching 16 million people. And 14 million of these accessed the social network on mobile devices.
Popular social media channels include Facebook, Twitter, Instagram, Pinterest, LinkedIn and Snapchat. Important to remember, each social media platform is unique in its own right and require unique ways of engagement.

Tip: choose a few you like and try to master those first, be clear on your messaging and what you would like to achieve.

Collaborate with your partners.

Smaller businesses with limited marketing budget should look to partner with other complementary businesses. These can include manufacturers, suppliers and vendors. Of course, the aim is for both businesses to succeed but there is added credibility when another business recommends you. Here are a few examples:

1. Exchange customer lists and offer to pay the business a commission for every sale you make. Just make sure that you have requested permission from your customers to share their details!
2. Offer to share postage costs and include your flyer with the other businesses’ mail.
3. Ask to put your business cards in their customer waiting area of a business with a physical retail space.
4. Create a referral rewards program where you reward your customers for referring business to you. Word of mouth is extremely effective when it comes to marketing.

Leverage online advertising channels.

Online advertising can be cheaper and more targeted than any traditional advertising such as TV, radio and print. Popular options are GOOGLE ADWORDS & PAY PER CLICK ads are a must and don’t forget to list your business in free online directories like GOOGLE BUSINESS FOR GOOGLE MAPS.

Other cost effective ideas of promoting.

1. A telephone message that plays your promotions while customers are on hold.
2. Window decals advertising your latest offer if you have a retail shop.
3. Car magnets and bumper stickers displaying your advertising while you drive around town.
4. Advertising on email signatures or letterheads.
5. Sending special holiday discounts, birthday coupons and surprise rewards to your mailing list.

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