[This article was written by Craig Middleton.]
Of course, every company needs to market itself to improve its bottom line. Nonetheless, conventional marketing techniques such as television, radio, and newspaper can be expensive. Moreover, some of them may generate little or no return on investment. However, marketers in the digital era don’t have to break the bank to market their businesses. Instead, digital advertisers can utilize several marketing tactics to send their message to their target audience at a low or no cost.
Platforms such as Facebook, Twitter, LinkedIn, and Instagram provides a plethora of avenues that marketers can use to advertise their brand at no cost. Another way an entrepreneur can market a venture is to host a Reddit AMA and invite users to share information and ask questions. You can also consider spending a few dollars to create a YouTube channel or video and try to reach as many potential customers as possible. Try to incorporate marketing features such as black humor, catchy music, and animation, and see how easy and fast is for a brand to go viral.
Exploit Digital Marketing Tools
Marketers have access to a lot of free marketing tools on the internet that can save them a lot of money and time in marketing efforts. For example, an online survey tool such as SurveyMonkey allows marketers to create free questionnaires and online surveys to poll their target audience and evaluate their responses. You can also take advantage of a tool such as MailChimp to track email results, manage email subscribers, and send emails. For a more powerful online marketing tool, try HubSpot, which is a sales and extensive inbound marketing program.
Hire Brand Ambassadors
You don’t have to spend a fortune to get a brand ambassador. Instead, a friend or family member can be an advocate of your product or service. Brand ambassadors are a representative of a company, and their role is to spread the word about it using any means. For example, top online giants hire college students as their brand advocates to spread the word about their services and products.
One way to market a brand at no cost is to ask customers to refer their relatives and friends to your brand. For example, giants such as Uber and Airbnb attribute their rapid growth to their powerful referral programs. The best way to bolster your referral programs is to give a little money or discount to any customer who refers a friend to your shop.
Take Advantage of User-Generated Content
You can hire a professional to build content and broadcast your brand. The best way to utilize user-generated content is to encourage sharing of community posts. Adopt a community-driven approach and use it to create content that is meaningful to your target audience.
Do Partnered Giveaways
You can team up with other companies that deal with the same products as yours and plan a gap year program and use it an opportunity to tour the world awarding prospects with grand prizes instead of standalone gifts. However, all the involved parties should share their social media followers and email lists and pool marketing workforce and distribution support. Oklahoma’s New on 6 is one example that marketers can take inspiration from after it teamed up with other local businesses to promote giveaways in Oklahoma.
Scrap Off Weak Ads
There is no need to waste time and effort on ads that have no yields. While this may sound obvious, research has shown that almost 50% of ads go unnoticed. That means many companies invest millions of dollars and time in ads that never reach their targeted segment. You also want to keep track of what you are spending on and the reasons to pursue certain marketing techniques. Avoid spending on any ad that has little return on investment; instead, reevaluate your strategies, curb your ad spending, and adopt effective advertising approaches. Marketing a brand can be costly and overwhelming, but these tips will help save a lot in time and money.