Nowadays, the top marketing challenge for a company is to market its products or services. Whether you are a startup, venture, or angel capital you will all the time face the dilemma of Marketing. However, today we will suggest to you the best ways of marketing on a limited and tight budget.
- Market Research
- Research on your Target Market
- Identify USP.
- Guerilla Marketing
- Social Media Marketing
- Search Engine Optimization
- Brand your Business.
- Select Your Marketing Avenues.
- Set your goals and budget.
- Engage with your loyal customers.
- Contests and Giveaways.
- Piggyback Your Partners.
- Help others and Help You.
Market Research plays a crucial role in developing a market strategy. Market Research will provide a vast array of information such as customer thinking, sales funnel, and location. Besides, market research will also provide you with the market forecast, will provide you information on the market trends as well as also guide you on what your competitors are doing and performing. Also check best SEO consultant.
Research on your Target Market
Outreaching your products or services to anyone is a cost-effective as well as an inefficient strategy. Grouping and Segmenting your potential customers on the basis of different characteristics will allow you to focus your marketing strategy.
Generally, segmentation is made on the basis of the following characteristics.
- Location i.e. area, city, province, state, country.
- Demographics i.e. age, gender, education level, employment status, income.
- Lifestyle: personal values, personality, social class.
- Behavior: loyalty, usage rate, attitude, readiness.
USP also known as the Unique Selling Point provides your customer with the reason to buy from you rather than that of your customers. USP makes your business stand apart in the crowd. USP allows you to do something unique and provides you with a means to deliver it to your customers. Basically, USP conveys your special skills and knowledge.
Develop your USP plan by keeping in view the following points.
- What makes your customers come to you rather than that of your customers?
- What special knowledge and skills do you have?
- What makes you love your products or services?
- What benefit can you provide to your customers upon the usage of your products?
- What aspects do you highlight when you recommend your business to strangers?
Guerilla Marketing is best suited to businesses under a tight budget. In Guerilla Marketing you use creativity, imagination, and originality instead of a tight budget. Small Businesses with a tight budget make use of Guerilla Marketing to compete with the upper end and higher companies.
Social Media Marketing
More than 2.7 billion users use Facebook, 2 billion users use YouTube, 1 Billion users use Instagram, while 2 billion users use WhatsApp. As such an immense amount is using social media, therefore the traditional mediums of marketing and generating sales and conversions are going down with the passage of every single day. Marketing on Social Media has a higher conversion rate and starts from as low as 1$.
Search Engine Optimization
Search Engine Optimization also known as SEO allows you to rank your website, business, or blog higher and higher in the search engines and search results. SEO consists of numerous things like Keyword Research, Buyer Persona Research, Content-Writing, On-Page SEO and Off-Page SEO.
SEO is a term opposite to that of SEM, Search Engine Marketing. In SEM we pay to rank higher in the search results, whereas SEO is free. SEO allows you to attain organic rankings and results for free.
Brand Your Business
Every business regardless of size, needs a brand. Branding is not a tagline, color, or logo. A well-shaped brand emotionally connects with your target customers and allows you to stand apart in the market as well as allow you to deliver unique products or services.
Select Your Marketing Avenues
At this point do consider your target audience, while you are determining which market avenue to use. Different marketing avenues available are social media, website, blogging, flyers, print advertising, cold calling, word of mouth, and letter drop.
Set Your Goals and Budget
While defining your goals and budgets. Remember that your goals should be SMART i.e. Specific, Measurable, Attainable, Relevant, and Timely. Similarly, the budget should be allocated to goals. Generally, a marketing strategy includes the following elements.
- SEO Strategy.
- Website Development and Maintenance.
- Branding your Business.
- Printing of Promotional Materials.
- Employing staff to overlook marketing efforts.
Engage With Your Loyal Customers.
Your customers are key to your success in the market, so it is important to nurture loyal and potential customers. Exceptional Customer Service will make your customers come back and forth and will make you apart from your competitors.
- Tips to produce loyalty in your customers are.
- Engaging with customers regularly through the blog, E-News, or Social Media.
- After Sales Follow Up.
- Keeping on your promises.
- Providing Additional Benefits that exceed Initial Expectations.
- Using feedback and sales to improve your services.
- Keeping the viewpoint of customers.
- Training Staff in Customer Service.
Monitor and review.
Monitoring and reviewing your marketing efforts regularly will allow you to determine whether a particular strategy is in success or not. Reviewing your marketing plans and efforts every 3 months will assist you a lot in your strategy. Once your business is established introduce new products and services and look if any new competitor is arising that is affecting your industry as well as your efforts.
Contests and Giveaways
Free gifts are valuable for everyone. Giveaways are usually delivered to gain good-will, build a brand as well as also allow you to engage with potential customers. Contests and giveaways are usually inexpensive. You can offer free giveaways in the form of different products such as white papers, online books, and checklists, that don’t cost anything rather than that of specific knowledge.
Apart from the soft gifts, physical gifts are smartphone wipes, balloons, key chains, pens, fridge magnets, and notepads as such items are very popular and are in huge demand.
Piggyback Your Partners
If you are a small business with a limited budget you can partner with other relevant small businesses in your niche. Such small businesses and stakeholders include suppliers, vendors, and manufacturers. In such a scenario you both will win if your businesses succeed. Also there is a lot more credibility when another business recommends you.
Help Others and Help You
Helping Others will help you in one way or the other. In this regard, provides useful and valuable information. Information Marketing and Content Marketing is highly effective in increasing the sales of your store. In this case, you can solve the problems of your customers and can recommend them your products or services.
A wide range of questions and answers get posted on forums like Quora and by answering the questions of the users you can recommend them your service and can make sale.
The best tips to grow your business using the power of Digital Marketing is presented before you. We have experimented with all the above-mentioned things and suggest you as per our experience. It is recommended to try all the above-mentioned things for a definite growth of your business.