The latest Bellweather report reveals that almost 70% of marketers have had the same marketing budget since Q2 this year. Most are citing Brexit uncertainty as the principal reason why marketing budgets are not increasing.
As marketers are being cautious with how they spend their budgets, they are increasingly turning to online marketing as a safer way to get their message across to consumers. It can be a very cost-effective method of reaching your audience.
No matter the size of your business or organisation, here are 4 things you can do to market your business – all without breaking the bank.
Get yourself out there!
Networking events are a great opportunity to market your business without splashing the cash. Most events are free or only require a small fee to participate. If you attend such events, make sure you focus on making connections and getting your business name out there rather than trying to sell your services. There are always plenty of events listed on sites such as Eventbrite and you could also sign up to newsletters from local networking groups or business associations.
In Glasgow Collabor8te regularly sends out newsletters listing upcoming networking events
Be smart with your resources
Having limited resources doesn’t mean you can’t make a big impact – you just need to be savvy on how you use these resources and focus on what works for you.
If you are using social media, find out where your potential customers hang out online and target that platform. Need a website? There is no shame in starting small; a beautifully designed one-page site containing contact information is better than no website at all!
Direct mailing can involve heftier costs and uncertain returns compared to email campaigns.
By creating an email newsletter that you regularly send out to your network you’re on to an affordable way to keep in touch with your network and promote your business effectively.
Email marketing is also less time-consuming than traditional mailing and you can easily analyse your emails’ performance.
Use newsletters to communicate offers, news and get in touch with customers and leads.
People love competitions and giveaways! If you have a product or service you can offer as a prize then make the most of it. With good planning and communication, a competition can have a big impact on a small investment. How you organise your competition will depend on what you need to achieve (increasing brand awareness, get new leads, etc).
Holding competitions is a great way to get some engagement from your audience
Do you need help with making the most out of your resources so your business can make a big impact? We focus on what works for our clients and always give honest, no-nonsense advice. Get in touch if that sounds like something you’d be interested in!