As a new business startup, cash will most likely be your biggest stumbling block. Most business owners are reluctant to invest much in marketing and advertising as they can be seen as superfluous to requirement, a frivolous expense when day to day business costs are taken into account.
With a staggering 80% of entrepreneurs not knowing how to measure a marketing strategy’s effectiveness, it comes as no surprise that marketing is not always high on a new business startup’s agenda.
However, by not investing in marketing, you are stifling your company’s growth potential, so if you don’t have money to spare, at least spend some time yourself marketing your business. It will pay dividends.
There are low budget marketing strategies that even the leanest of startup budgets can afford.
So, regardless of your cash flow situation, whether you’re on a tiny budget or you have cash to burn, we have an idea that might work for you. Some may require you to do a little background reading and learning to implement them, but if it benefits your business in the long run, why wouldn’t you invest your time?
Read on for how to market your new business startup.
1. Word of mouth
What better way to market you business than with a happy customer. People are essentially sheep, just look at influencer marketing to see how easily swayed we are to follow the herd.
If you want to avoid marketing altogether, create a way in which customers can do your marketing for you. Allow them to leave comments on your website or social media. Offer discounts and freebies for refer a friend schemes. We trust personal recommendations above anything else. Companies have been built on recommendations, think TripAdvisor.
You might have to implement one of the below to reach your customers if you are going to go down this reward route though, so keep reading for marketing ideas.
2. Press releases
Journalists are always looking for a new story. You will always be looking for an outlet for your business story, so why not marry the two up.
Find someone who covers your industry in a trade publication, or even get in touch with reporters at your local newspaper for a home story.
If you have something newsworthy to report, get it out there: a new product launch, a new business launch. If you have something new and interesting that people will get excited about, shout about it.
You don’t have to hire a PR firm either if you don’t want to. You can do all the leg work yourself and hunt down journalists to send your press release to. There are numerous templates online that you can follow, or break the mould and write your story in your own inimitable style.
3. Content marketing
Content marketing covers everything to do with digital marketing, from blogs to website copy to infographics, videos and graphics.
None of these require specific significant investment other than time set aside to create them. And with so many free programs to assist you in putting together an eye catching design, there is no need to pay someone to do it for you.
Remember quality trumps quantity every time, so don’t over post and exhaust your readers and don’t stuff your blogs and articles with keywords either.
You won’t do yourself any favours, your readers won’t appreciate it and Google’s autobots will frown heavily on it and penalise you in the rankings.
Write for your readers, give them entertainment, help and advise or insider information pertaining to your industry.
It all works together to enhance your brand, build your reputation on and offline, and increase your inbound traffic. Content marketing is also one of the only marketing mediums that can cross pollinate with the other marketing strategies. So it can kill numerous birds with one stone.
4. Search engine optimisation (SEO)
SEO will help your content marketing strategy enormously. However there are certain rules you have to follow if you want it to be successful. Mainly, always create content for a real audience and don’t keyword stuff.
It’s worth exploring SEO more in depth because what does and doesn’t work is constantly changing. And if applied correctly, the long term benefits of optimising your website and its content, are enormous.
5. Social media marketing
This is a free marketing strategy and if you invest time in it, it can pay dividends in the long run. Start by creating profiles for your company on the major social media platforms, like facebook, twitter, instagram and LinkedIn.
Build up your profiles and flesh them out as fully as you can. Create a social media content plan so that you are posting something everyday, regularly. Find out when the best time of day is for your followers and share or create relevant content that your target market would like.
How to market your new business startup
- Ensure you have brand consistency across all social media platforms to create customer loyalty.
- If you plan on investing in building a community across social media around your brand, ensure it is invested in, as consistency is key. And always be transparent when you’re paying influencers or using a #ad.
- Invest in those marketing channels where you are guaranteed to get in front of your target audience.
- However, don’t confuse your marketing strategies and mix your marketing approaches, it could backfire horribly.