Startups face many challenges, but none as precarious or life-threatening as the struggle to remain cash positive. New companies have to pay thousands a month in team salaries, office-leasing fees, raw materials, and other ongoing operational costs — all while struggling to secure enough revenue to stay afloat. They have to invest in marketing their product and services. So it requires a lot of money to market your product and give information to the people about that. Effective marketing doesn’t have to cost a lot of money. Sure, higher-budget marketing strategies might bring more visibility and consistency in their eventual returns, but there are plenty of highly effective — and low-cost — marketing strategies you can use to help your startup grow.
Here we will discuss few low-budget marketing strategies that will lead your business with high ROI-
One of the best ways to market is to avoid marketing altogether; instead, create a system that lets your customers do the marketing for you. Consider the fact that people are four times more likely to buy a product when it’s referred to them by a friend.
Despite tech publication reviews, we still trust personal recommendations more than anything else. What’s more, establishing a referral program doesn’t cost much, and depending on how you structure it, might be entirely free. You could offer your current customers a discount on their subscriptions in exchange for referring a new customer
Content marketing takes many forms, but none require significant investment. The simplest approach is to manage an on-site blog, adding new content a few times a week that informs or entertains your readers in some unique and practical way. Infographics, videos, and podcasts all belong to the content-marketing category as well.
Email marketing remains one of the most cost-efficient marketing strategies around, with some sources claiming a return on investment (ROI) of 400 percent or more. As long as you have a good list and a steady but non-invasive stream of outgoing email blasts, you should be able to see a significant return on any time or money you put into it.
Email Marketing is the best way of marketing as the ROI is very high and fastest method to reach the customer. You can choose an Email Marketing tool like Mailcot to promote your services via email newsletters.
If you’re spending time writing articles for your content marketing campaign, you might as well invest in improving your search engine optimization (SEO). It might seem technically complex, but the reality is, with a bit of reading and dedication, you can easily understand the basics. You can go for an SEO Service provider like veetly and easily optimize your website so that whenever any user put a query to search engine he/she will get your website on top. SEO will allow you to attract high traffic to your site with low competition.
Social media marketing isn’t something you can do casually, but it is freely available, and it’s something you can master if you invest the time. Start by establishing profiles for your business on major platforms like Facebook, Twitter, and Instagram. Flesh out your profiles, and start syndicating content that your target market would like.
Reach out to individuals, and make sure to stay connected. In time, you could grow an audience of thousands, representing an anchor stream of traffic to your site.
If you find yourself struggling with your business’s budget, don’t resort to cutting marketing out of the equation. Instead, find creative ways to build recognition for your brand and products that don’t require significant up-front investment.
Once you establish a stronger stream of consistent revenue, you’ll have more freedom to invest in bigger, more expensive strategies; or you can pour more resources into the top performers from your earlier experiments.