The 10 Most Effective Low-Cost & No-Cost Marketing Strategies
Marketing your business doesn’t have to be costly! Whether you are just starting up or looking for some fresh ideas, these 10 strategies fit easily into any budget:
Strategy #1: The Power of the Press Release
The only cost of media coverage is time. Build relationships with contacts from trade, regional and national media will take time, but it doesn’t cost a thing when it comes to getting something publicised.
Strategy #2: Referrals
Referrals are the best way of expressing to both potential and return customers why your company is best. In order to generate referrals, offer people an incentive in return.
Strategy #3: Digital Marketing
Strategy #4: PPC and Google AdWords
Pay Per Click (PPC) advertising is a budget friendly way to advertise online as you set the budget. Google Adwords is the most popular way to use PPC as it enables your company to appear at the top of the most popular search engine in the world, Google. Others offering PPC include Facebook, LinkedIn and Bing.
Strategy #5: Get Sociable on Social Media
Social media has become the number one place for both free and paid advertising, PR and marketing over the last decade. With millions of people logging in every day, and budget friendly PPC advertising options, free company pages and more, it is worth investing some time in this marketing gold mine.
Strategy #6: Newsletters – You’re Always The Cover Story
Newsletters both online and offline are a great way to keep in touch with your customers and an effective way to promote additional products and services. Your customers will appreciate the information and your efforts to keep in touch with them on a regular basis. Newsletters have a number of other benefits as well. And if you go the e-newsletter route, the chief benefit is: virtually no mailing costs.
Strategy #7: Email Marketing
The only cost you will incur is a subscription to an email marketing service, but the benefits far outweigh this cost. You can send personalised emails with updates, incentives and offers to databases of hundreds or thousands of customers.
Strategy # 8: Telemarketing
Never under estimate the power of one-to-one contact. Although often maligned and frequently misunderstood, telemarketing is one of the fastest growing forms of direct marketing today. With the digital age taking the personal aspect out of sales on many levels now, a traditional method such as telemarketing provides an opportunity to make one-to-one contact with the prospective buyer at a very low cost. It can be used to follow up on enquiries, resolve customer issues in a more personal manner, and contact potential leads directly.
Strategy # 9: Marketing with Flyers
Flyers can be an effective way to spread the word about your business. Generally they are single sheets printed front and back, and used to announce a sale or other limited-time event. Mail it, hand it out, hang it up, and leave it wherever prospects congregate – a flyer is among the least expensive, easiest to produce, and hardest working marketing tools.
Strategy # 10: Magazine Ads
This is direct response advertising at its best. A magazine ad is designed to create responses and generate customers. Every ad should always remind the reader of your unique selling point, even though you are featuring a particular product or promotion.