Over the past few years, there has been a trend named no-cost marketing. No-cost marketing ideas will enable businesses to earn better returns from their marketing efforts without significant investment. Let us discuss about no-cost marketing ideas.
Marketing is an essential component of every business and it often turns out to be a huge expense with seemingly insignificant results. Staffing companies spend exorbitant amounts for marketing activities. Over the past few years, there has been a trend named no-cost marketing. This new way of raising awareness for a product or brand is designed to enable businesses to earn better returns from their marketing efforts without significant investment.
As a business manager/owner you should select marketing methods that make the best use of any limited budget available to you. Let us discuss about no-cost marketing ideas. It is the activities that are designed to promote a product, business, or service. Likewise, the ROI (Return on Investment) of these marketing activities is high compared to others. It provides an opportunity for businesses to promote their business without the risk that a cost will not be regained.
No-cost marketing has many benefits. We can make it very effective and successful with the right skills and techniques. But, it is important to develop an attitude that your activities do have an associated cost and to justify the time you spent on these activities. These activities are free from external costs, which mean it will be easier to recover expenditure and grow the business.
No-cost marketing ideas
Some no-cost marketing ideas to promote your business are given below. These ideas allow you to use your budget and time wisely and to maximize the results of marketing.
1. Use social media
Each social media platform helps to reach your brand name, news, services, and advice to a wider audience. Social media is not considered as a great selling tool, but it is very useful for product research. Research shows that only 1-2% of online purchases are done directly through social media. But 71% are considering the suggestions on social media in their purchasing decisions.
Some social media sites allow users to leave reviews on business pages. Let your customers leave reviews on your profiles. Then, when other peoples come across your profile, they can see those praises from customers. Also, you can post content that encourages people to buy your products. You can post coupon codes, photos of new products, and online contests.
2. Guest blogging
Guest blogging is another popular way to bring attention to your brand. You will get new audiences by promoting your knowledge to the audience of the host blog. Also, you are able to make relationships with strategic partners. They will refer their customers to your brand. The cost of guest blogging is free and the time you spend is minimal. Create a good article that attracts the audience of the blog. Guest blogging is not easy to discover and pitch. This is very rewarding because both you and the host are promoting the content. You need to begin with sites like Tweak Your Biz as a guest blog host.
3. Marketing to existing customers
Marketing to existing customers is the best way for improving your business base. If anyone bought your product, you should try to turn them into repeat customers. When people purchase products from you, try to add them to your email list, then send inventory updates, coupons, and news about your business to those peoples.
You need to send regular emails to maintain your business in the minds of customers and give them plenty of opportunities to buy from you. Also, you can begin a customer referral program. You need to provide incentives to customers for introducing new customers to your business. For example, you can offer free services or products or a discount on the next purchase.
4. Business partnerships
Try to partner with other local businesses. You can promote businesses to each other. Making partnerships with other businesses will provide you access to their customer base. You need to make partnerships with businesses that might complement yours. Don't make partnerships with competitors in the market. For example, a coffee shop can make partnership with a bakery. Or a local gym can make partnership with a supplement store.
If you run a B2B business, networking groups are a good way to get the news of your products and brand to the mass audience. Most of the networking groups are free, but others have costs. You can utilize apps like Meetup to discover upcoming networking events in your place. Also, you must try to be a member of a business organization such as the Young Entrepreneur's Council, Business Networking International, the Entrepreneur's Organization, or SCORE. Look for industry specific organizations that you are able to join.
6. Email marketing
Email marketing is one of the effective techniques to reach and engage new leads. This is a cost-effective and far-reaching method. Compared to other strategies, the time taken to create the message and design the email content is very less. Most of the email marketing platforms such as Constant Contact and MailChimp provides a free account. When using MailChimp, you don't need to pay for the first 2,000 contacts and 10,000 emails per month. Email is very useful because more than 3-quarters of customers prefer to receive promotional content through their email box.
7. Press releases
There are many websites that allow you to submit press releases at no cost. So you need to consider using these resources when sharing some news about your business. Your company's popularity will increase by submitting a press release. Also, peoples can know about the new offers from your company. The source named PRLog.org is free of charge.
8. Blog comments
Sharing insightful and helpful comments is a good way to be a part of a blog conversation. It shows that you are an expert in your industry in front of others. Also, it is an effective way to express our knowledge. Try to avoid leaving a quick comment or link to your site. It is just spam and bad form. You need to ensure that you are providing some value to the community and the conversation when leaving a comment. People will be interested in knowing about you and they will check out your website.
These strategies are not expensive but it will take a considerable amount of time and effort to implement. Also, you need to provide each technique enough attention and time to work well. However, the ideas that are considered as no-cost are still effective and can generate significant returns for your business. You need to make sure that you are using the right techniques to earn the most from your effort and time.