Creating a low-cost yet powerful marketing plan can be overwhelming especially for people who are still getting a hold of their startup businesses. While any marketer would love to come up with high-impact marketing, having one is a lot easier said than done. Yet, this would also mean getting the value for your money. Furthermore, this would prove that your time, effort and resources are building a strong, positive image for your brand in the end.
When starting a business, there’s a lot of work that needs to be done. In most cases, there’s little time to plan for effective marketing strategies. Oftentimes, entreprenueurs find themselves wondering how to start and where to focus their marketing efforts. Do you need to create a website and wait for clients to notice your brand? Do you invest in Facebook Ads, enhance the image of your business and eventually convince your audience that your products are the best? Indeed, digital marketing can be scary for most startup businesses. New trends exist from time to time.
With numerous digital marketing strategies such as Search Engine Optimisation (SEO), Search Engine Marketing (SEM), email marketing, social media marketing and much more, choosing which one really matters can be frustrating. Here’s a list of 4 low-cost marketing tactics for startups that can actually drive results.
1. Utilise Social Listening Tools
Social listening refers to the process of monitoring, identifying and collecting conversations on social media platforms for mentions relevant to your brand, product and competitors. Social listening tools are crucial for audience research, allowing you to understand how the viewers see and perceive your products.
Unlike social media monitoring that simply looks at metrics such as brand mentions, hashtags and industry trends, social listening goes beyond just looking at numbers, it helps you understand the mood behind the data that has been gathered.
Social media listening helps prevent brand crises by identifying negative social media sentiment also known as online mood before it gets out of hand. Furthermore, social media listening tools allow you to engage with your audiences and provide aid when necessary. Powerful listening tools can filter through noise, giving you the chance to respond immediately to relevant posts.
2. Start a Crowdfunding Campaign
Building your dream project, especially for a new business, involves brainstorming, researching and planning. Apart from these steps, the most important part is finding some investors. While looking for investors through traditional ways such as fundraising can still be effective, finding someone who will trust and believe in your plans can be a bit challenging. As such, more and more businesses are leaning towards crowdfunding.
Crowdfunding is a method of raising a small amount of capital from a large number of people to fund a new business venture, typically via the internet. Though funding serves as the primary purpose of this campaign, it is also an effective way to gain media exposure and create traction.
3. Launch a Referral Program
Referral marketing refers to a popular word-of-mouth marketing tactic used to leverage your customers and encourage them to introduce your brand to their family and friends. In most cases, referral marketing is done through reviews, testimonials and case studies.
This type of content is indispensable as it shows your potential customers how you have helped them in the past. A referral program can help build authenticity and trust which can help you make more sales in the long run.
To make it more efficient, keep in mind to feature these reviews and testimonials on your website where potential customers can easily see them.
4. Offer a Free Product or a Trial Version
How can you prove your brand’s worth to people who don’t actually know you yet? One of the best, most effective ways to do it is to offer your audience a free product or a trial version of your service.
Huge tech businesses such as Canva and Dropbox, offer customers a free version of their products that let people try before they make a purchase.