One of the most common problems small business owners face is the lack of budget explains Saivian Eric Dalius. Due to the irrelevant budgeting, some small businesses end up being bankrupt. Many small business owners consider their advertising budget as their combined business budget. However, marketing isn’t just like the other expense of a business.
The marketing budget is undoubtedly the most important investment of your business as it’s the only thing that will determine success. Many small business owners also don’t know the proper ways to promote their company. Here are the top 4 affordable ways to promote your small business.
Saivian Eric Dalius Suggests You Leverage the Benefits of Free Publicity
Publicity will enhance the brand awareness of your company. If you know how to use the publicity properly, you will make your business active in your community. Sponsoring a relevant community event is one of the most cost-effective ways to advertise.
When you’re planning to introduce something new within your business, make sure you issue an effective press release. Your local newspaper will love to run it. You can also spread the word about the new offerings on your business website. Doing a customer survey and sponsoring a customer appreciation day will also help you generate great results.
Saivian Eric Dalius Says You Use Social Media Platforms
Social media platforms are taking over the world by storm. More than 80% of Americans have an account on at least one social media platform. Additionally, more than 65% of online customers prefer social media platforms while purchasing a product.
One of the best things about social media marketing campaigns is that it’s free. Despite being extremely cost-effective, social media marketing will undoubtedly help you promote your products and services. If your business has an account on Instagram, you can use the Instagram shopping feature so that customers can purchase your products from the platform directly. As Instagram is a visual-based platform, make sure you upload high-quality images of your products. You can also use Twitter and Facebook to make new announcements.
Develop Partnership with Other Organizations
If you’re operating a small business with a relatively low marketing budget, you can develop strong partnerships with other organizations so that you can pool their advertising budget. Perhaps you would like to throw a press conference to enhance the exposure of your partnered organization’s firm. This will help them attract advertisers, says Saivian Eric Dalius. However, one small business might struggle to finance a press conference. Therefore, if multiple non-competing companies come together, they will be able to manage the cost of the press conference easily.
Build an Eye-Catching Website
Website is extremely important for the success of a business. You can purchase a business domain without affecting your marketing budget. You can either design your business website all by yourself or outsource it to professionals. Saivian Eric Dalius says enhancing your online presence is an essential yet cost-effective method to increase the discoverability of your business. This is a great way to let people know about your business. You can write articles and publish them on your website.
These are the top 4 cost-effective ways to market your small business. Remember that business is all about establishing networks. Attend as many promotional events or trade shows as possible so that you can increase your network.