Start-ups are extremely exciting and innovative organizations. A common misconception is that start-ups are all backed by large venture capital investors, known as private investors.
The reality is that start-ups often have little to no marketing revenue. They struggle to communicate what sets them apart from their competitors to their target audience. However, you don’t necessarily need deep pockets to make an impact. With a little creativity and quick thinking, start-ups can adapt their marketing strategies and tell the world how special they are.photo credit: Garrhet Sampson / Unsplash
Here are a few budget marketing tips to help your brand stand out.
Put your brand on their desk
People love a freebie. Use this knowledge to your advantage and offer branded products. It is an opportunity for long lasting brand memory and for you to showcase your merchandise again and again. Merchandise options can be purchased in bulk at lower unit prices. Examples of popular choices include tote bags, IGO ballpoint pens, and a water bottle.
Learn the value of word of mouth
Word of mouth is free and a great way to promote your brand. Consumers are 92% more likely to trust recommendations from friends and family than other forms of approval. This type of marketing can be applied face-to-face as well as through consistent push-ups on social media. Within the company, make sure that everyone in your start-up can immediately, and in layman’s terms, remember what the company is, who it is for and what it does; it makes this message easier by filtering through other channels for a clear marketing message.
Network, network, network
We all know the well-known expression “sometimes it’s not what you know, it’s who you know” and it is just as true in networking circles as it is in personal circles. Look for networking opportunities for your start-up. If no specific industry group exists in your area, research start-up networking groups. You may find them a useful place to meet others and build a strategic list of contacts. If you don’t have a suitable group in your area, create your own and publish it through your start-up social media pages. For the price of a few bottles of wine, soda and an evening after work, you can give your business a huge boost.
Toot your own horn
Participate in industry awards. They’re usually free to join and even if your start-up isn’t likely to win or be shortlisted, it’s an opportunity to increase your profile. If you’re shortlisted, use this as a marketing tactic. If you don’t make the shortlist, you’ve still drawn attention to your start-up with potentially high-profile judges.
Volunteer to speak and/or attend industrial or local events. It’s a way to strengthen your organization’s reputation as a thought leader while promoting your start-up to everyone attending or streaming the event.
Social media marketing is a critical part of business strategy for most businesses and remains a low-cost advertising option. Most channels that offer paid advertising offer hypertargeting and audience segmentation in addition to trackable ROI. It means audiences can be built and developed quickly without too much trial and error.
Make sure to use social media networks that are relevant to your target audience. It’s an opportunity to boost your brand profile, stay relevant with your audience, and gather key customer information.
Rather than investing heavily in marketing at the outset, it’s important that you first determine your budget and target marketing outcome, then focus on producing quality content for your target market, consistently engage with your social media audience, and learn from any mistakes in your business journey.
This post Budget Marketing Tips for Startups was original published at “https://www.noobpreneur.com/2022/03/17/budget-marketing-tips-for-start-ups/”