Businesses must face many marketing challenges from time to time where budget resources rank third on the list. The statement that money makes money is true so there’s no way to promote a business without spending money. However, you don’t have to spend thousands on marketing to enjoy the benefits. If you are a smart marketer, you can come up with low cost ideas that provide great results.
Many businesses think that they cannot make it big without spending a lot of money. Therefore, they do not even look for more affordable options despite there being a lot of solutions.
Without much ado, let’s have a look at four inexpensive ways to market your business in a budget:
- Email Marketing
Email marketing is an effective way of connecting with many users. It involves marketing your business or a product via sending emails to an email list that consists of your past and present clients and some potential customers.
It costs around $100 – $200 CPM, which is expensive for most businesses, but if done correctly it can provide very high ROI.
There’s a smart way to proceed with email marketing and that’s to build up your own list. It sure will take some time but you’d be adding up authentic, responsive and unique email addresses to the list.
You can get emails through your own site by creating an email list and providing visitors with something to look forward to. The best part is that almost every email address that adds up to the list will be active.
It’s also wise to include a video in the email because it can increase the click through rate by 96%. This way you will be able to get more out of your emails. Other than this, pay special attention to the subject line as well. Most people will not open an email if the subject line does not interest them.
- Mobile Promotion with A Vehicle
A lot of businesses think that decorating the vehicles with business information doesn’t get any leads nor helps marketing a business but that’s not true. According to the Outdoor Advertising Association of America, one vehicle can generate monthly views between 30,000 – 70,000 depending on the area and population.
This is a good idea as you do not have to pay for this purpose. You can decorate your office vehicles as well without having to worry about added expense. However, if you don’t have your own vehicles, you may hire space on vehicles as there are many people who offer such services.
- Video Marketing
There was a time when billboard marketing was on the rise but that strategy was for a small time period. It was costly as the duration of promotion depended upon how much money was paid.
Today, thanks to the advent of technology and the internet, we have other methods to market businesses and products where video marketing is one of the most popular ones.
The reason to go for video marketing is because it is cheaper and easy to deliver if you know who your audience is. With video marketing, businesses can boost organic traffic to 157%, increase conversion rates to 2x and improve bounce rates as well with 105% increase in time on site (users exploring a website).
- Get Customized Items
You can get custom fun posters customized stationery and other such items to create some noise. This is a very cheap option that can let people know about your business.
You can distribute these posters around to spread the word. The poster can contain information on your business and other such details.
A Tip to Ponder
Business marketing is more of a creative task because it requires smart minds. So, make sure to hire a creative marketing head to take care of things.