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Marketing on a Low Budget: 3 strategies that work the best.

Marketing on a Low Budget: 3 strategies that work the best.

Effectively marketing your product is becoming as important as creating a unique and useful product.

Nowadays, every organisation is ensuring that their marketing department is being allocated with hefty amount of funds.

This is because its only through marketing that a business can stand out form its competition, in today’s business world.

However, there are many firms that can’t have the luxury of a robust marketing budget.

This group generally consists of new entrants and those firms that have been incurring losses for long time periods.

With a motto of providing guidance to such firms, lets talk about a few marketing strategies that strictly operate on the “Low Cost High Reward” mechanism.

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(1)  E-mail Marketing

It almost costs zero bucks to set up an e-mail-based campaign.

E-mail marketing, till this day can be regarded as one of the most trusted tactics, if lead generation and conversion are your primary goals.

There are some elements of e-mail marketing that you take into account if you are operating on a low budget.

Firstly, its mandatory that you create quality content, something that should not only be relevant to your target customer, but highly engaging as well.

Therefore, if your focus is primarily on creating written or text-based content, unfortunately it won’t work.

Your e-mail campaign should have a proper mix images, infographics and most importantly, some highly engaging video content, as they create 3 times more engagement than text-based content.

Now let’s talk about two more elements that can have a positive impact on your e-mail campaign.

The subject line: Generally, it’s not an advisable practice to include click-bait-based subjects for your e-mail.

However, click-baits have a good potential of creating an initial spark of interest that drives a customer to open your e-mails in the first place.

Using click-baits can be counter-productive if the customer finds the actual content to be irrelevant/ useless after relying on your click-bait and opening the e-mail.

This may deter him from opening your e-mails in the future.

CTA: Having a CTA button is of prime importance; in case you are marketing on a lower budget.

That’s because you need to have a highly results-oriented marketing approach and provide your consumer with an explicit trajectory that he has to take after reading the e-mail.

(2) Referral Marketing:

Why does referral marketing work so well?

Well, it’s plain and simple; a consumer would always have a higher faith in a product that is recommended by his friend/relative or a popular influencer, than the one he sees in an Advertisement.

The trust factor operates at the core of referral marketing.

Another benefit of referral marketing is that it can be reused and compiled with other forms and channels of digital marketing as well.

Let’s talk about the various ways in which you can leverage referral marketing for your business:

Referrals in website: This is something where individual referrals don’t work, as you have to cater to your overall audience.

The best thing you can do in this scenario is to create a testimonials or customer reviews page where you can showcase video testimonials of your satisfied customers or important people related to your industry like CEOs, influencers etc.

Landing pages: Involving a video testimonial in a landing can provide the much-needed incentive for the viewer to click your CTA finally.

In general its video testimonials from notable persons that work the most, but what if you don’t have them?

Well, then you can always create a collage of video testimonials of a few of your clients and add the video with an exciting headline.

For example:” see what our ten satisfied customers say.”

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(3) Free Seminars/Webinars:

Holding a free seminar/webinar is a great platform to showcase your brand, to genuine and interested customers.

However, there is something that you mandatorily have to keep in mind while holding such events.

You should never resort to an explicit promotion of your company, products/ services.

It’s always that a potential lead of yours would sign up to such events in order to learn something new regarding the respective industry or field where you are operating.

You should see to it that the potential lead can take home something new after attending your seminar/webinar.

If you can achieve this, then there is almost certain that you have implicitly promoted your offering and your brand.

Finally, hosting seminars and webinars would also enhance your current e-mail database with quality leads that you can add into different segments.

You can later target these segments with separate e-mail campaigns.

Wrapping Up... 

What you need to realize is that creating quality and useful content for your target customers stands at the core of all these strategies.

If you fail to create quality content, then there’s a very meagre chance that these strategies would be able to help you with your marketing goals.

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Author Biography.

Shaunak Pramanik
Shaunak Pramanik

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