Advertising is the key to create a solid brand presence without which it is not possible for any brand to sustain and survive in the long run. But unless you are working with a renowned company like Honda, Apple, Coors or FedEx you don’t have millions to spend on advertising.
Under such circumstances, in order to create a high-impact advertising plan you must learn to optimize the limited budget. A glossy brochure or a huge hoarding advertisement can all derail the marketing plans and erode the budget.
For small business start-ups, it is essential that you use the low-budget marketing to introduce your brand to your customers and make the sales grow.
Reasons for Going for Low-Budget Advertising Techniques
There are quite a few reasons that the small business start-ups must embrace low-budget marketing strategies. They are enlisted as below.
- The consumers must hear your marketing messages at least 7 times to be properly convinced to make a purchasing decision. If you use the marketing budgets extravagantly you won’t be able to repeat these messages as often you should and hence there will be no effective impact.
- The high-budget advertisement exposure does not always translate to enhanced sales. Every marketing dollar that you spend must be able to produce a great ROI and enhancement in sales.
- The marketing impact can be improved massively by the usage of multiple marketing channels. The prospects can turn into purchasers if they come across your company name often on the internet, read it on the newspaper, attend seminars or take home brochures and so on. Naturally, to diversify your marketing strategy you must ensure that you spend frugally so that you can cover as many channels as possible.
Here are some of the ways of creating highly effective advertising techniques. Just take a look.
- Create Great Content – This is something that goes without saying– the necessity of kick-ass content is unparallel for creating solid brand awareness. If you are able to create the content yourself it is even better, afterall, it is free. If you are not able to write well, you can get somebody from team who will be able to create a few articles for you. In this case, you should try to write on topics like Top 10 Tips, Collection or Best Practices for the Industry etc.
- Go for Local TV Ads – While not the most affordable ads out there, it will be much more reasonably priced than that of the national TV matches. The cost actually depends on the time of the day, how many people reached, and the other similar factors. You will also need to work on the cost for producing the television ad as that will help other factors which could be several thousand dollars. It can cost your 3970-15,881 pounds for the broadcast time for reaching an audience between 10-40 lakhs viewers. However, if you are selling the big-ticket items like the jewellery or cars in a competitive market, the expenses are worth it.
- Advertise with the Handbills and Flyers – You should create your own flyer for advertising your business. It is inexpensive, simple and it is great for creating a buzz in your company. If you really want to advertise through your flyer you should start offering discounts or incentives to the people who bring in the flyer. This way you can also track how many people came in just because they saw your flyer.
- Maximise the Referrals – The most affordable method to reach new customers is by referrals from the customers who are satisfied. A customer who is satisfied and tells about your brand to the other people is much more effectual than the fancy advertisement campaigns. You should spend time to get the referrals of the customers and leverage the word of mouth marketing on a daily basis. This tactic is bound to work for any small business or if you have a shoe-string budget for your advertising campaign.
- Try Charity and Event Sponsorships or Organise Events– If you can sponsor the local events like charities, sports events or causes, it can be relatively inexpensive. You can get the considerable amount of visibility by just spending around 400 pounds. In this case, you can donate the branded giveaway items like the notepads, key chains and even water bottles with the company logo engraved on the items. You will not only get the business visibility but also the satisfaction of supporting the favourite cause or the community. You can also organise your event, if you have a little more budget. By planning and applying frugal organisational techniques like opting for furniture hire in London you can arrange your own event without breaking the bank. Such events like charities offer a great opportunity for networking and meeting your customers face to face.
The above are some of the ways to advertise for your business and help it to create your own niche without making a dent in the pocket.