Starting a new business can be difficult. With roadblocks like limited capital, large competitors, and essentially brand irrelevancy, it can feel like you’re running uphill in sand. Fortunately, there are ways you can market your business on a budget. Keep reading for seven marketing tips that startups can use without breaking the bank.
Establish Your Brand
One of the first things you need to do when marketing your company is establishing your brand. Keep in mind that your brand isn’t necessarily your company, it’s the identity and voice that you use to market your company. Your brand should speak directly to your target demographic without shouting. What does this mean? If you’re in your mid-30s trying to reach 18- to 25-year-old males, you shouldn’t dress in whatever clothes are trendy walking around talking like them. Implement small details into your marketing that will catch their attention. Including small touches like video game controllers and snack foods into your marketing assets.
Choose Your Target Demographic
Just as important as knowing what your brand voice and image will be, you need to have a target demographic that you’re trying to reach. This will decide your company’s branding approach and how you’re going to advertise. Again, if you’re trying to target individuals in their early to mid-20s, you’re not going to advertise on the radio or cable TV. Rather, you would want to pay for advertising on YouTube or apps like Spotify. Conversely, if you’re trying to reach retirees, you would then want to look into advertisements for TV and radio. Know your demographic then do research into how to reach them in the most efficient ways possible.
Watch Your Competition
If you’re unsure of the best ways to reach your target demographic, keep an eye on your competition. This isn’t so that you can match them blow for blow with your advertising strategies. Instead, you want to see which avenues they’re taking to reach customers and notice if it’s effective or not. Some companies will blow their entire marketing budget on influencer marketing and Google ads while they don’t spend a single cent on things like SEO or traditional marketing techniques. Evaluate which strategies work and will translate to you and what you need to do to grow. For more info on business strategies, visit BusinessChronicler.com.
Get a Website
In today’s market, a website is the first step to gaining the trust of customers. If you show up in search engine results and only have a link to a Facebook page with your name on it, most users will continue looking. While Facebook is a good first step to reaching customers, it isn’t a place where you can tell your story or completely sell your product or services to customers. Many people are looking for more information than what is available on Facebook, so you need a website to help keep them engaged and drive sales. Get started by choosing a hosting platform and looking into where to buy domain names. It’s recommended that your domain either be your company name or describe what you do.
Take Up Social Media
Yes, social media advertising can be expensive. The cost per click on Facebook and Instagram ads increases with the popularity of your niche, targeted geographic area, and runtime of your ad. However, you can advertise for free on social media simply by using target keywords and hashtags and creating engaging content.
Since the creation of Instagram back in 2010, social media has become much more of a visual platform than before. Images and videos promote interaction and make more people stop scrolling than simple text-based posts. Take pictures of your products, create fun graphics, and use free tools like Canva to make silly memes. You’ll grow your following as people share your posts with their friends and see what you’re doing. Additionally, social media isn’t just a young person’s game anymore. More retirees are taking to social media to keep up with their children and grandchildren.
Collaborate With Other Brands
It’s fine if you don’t want to collaborate on a product with a competitor. That’s understandable. However, you can collaborate with other brands to increase awareness of yours. Do things like combine logos, swap color schemes, or mix and match products. The possibilities are limited only by your imagination. Get creative and find other companies you can work with to collaborate and reach a larger audience.
Create a Video for YouTube
YouTube is the second-largest search engine in the world and it’s owned by the largest (Google). It costs nothing to create videos with your phone and upload them to YouTube. Sure, the production value might be lacking in some areas, but the point is the message. Put together a video about your product or services that also tells the story of your brand. Whether it’s silly or serious is up to you, but you can reach a large audience by putting together a video that’s appropriately optimized to reach your target demographic.
Keep in mind that you probably won’t go viral on your first video. In fact, “make a viral video” is a common piece of advice offered when you go looking for it. If you strike gold on your first try, excellent. But keep in mind that your video will stay on YouTube as long as you allow it and viewers will find it over the course of time. Going viral isn’t necessary to create a solid sales funnel with YouTube.