Budgets
Entrepreneurs and established
companies alike continually search for the next big idea to turbo-charge their
marketing. But what makes an idea “big” and separates it from its
“not-so-big” peers?
Before we go there, let’s start
with a definition. This one from British brand consultancy Millward Brown is
a good place to begin: “ a big idea is the driving, unifying force behind a
brand’s marketing efforts.” That’s a good starting place, but there is much
more.
How do you set goals that are
challenging yet still achievable (is there an exact formula for this, like
always shoot for x% more than last month)? How many goals should you set--one,
three, six? Should you focus on a new goal every week, month, semester, quarter
or year? If you’re a small company and you need to achieve quick growth, how do
you pick which goal is most important when there are a billion urgent things
that need to happen? How do you stay focused on your goals (once you’ve finally
decided on them) and not let other stuff get in the way, like tempting
partnership opportunities or new tactics you want to try out?
One of the best ways to figure out
how to do something is to find someone more experienced or smarter than you who
is already good at it and study how they do it. stay focused on these goals and
execute like nobody’s business.
Here’s what they had to
say:
No
worries – there are plenty of marketing tactics you can make use of that won’t
blow your budget. Let’s see how far you can stretch those dollars! Here are 20+
marketing ideas for small businesses working on a small budget.
Publish Great Content.
If you can
create it yourself, all the better (isn’t free always better?). Even if writing
isn’t your strong point, you shouldn’t have too much trouble getting someone on
your team to crank out some articles for your blog. Try top 10 lists, tip
collections, best practices for your industry, etc.
Create Instructional Videos.
Video content
is really valuable, and while it can cost big bucks to get professional YouTube
videos produced, there’s nothing wrong with giving it a shot yourself or hiring
a film student off Craigslist.If video sounds like too much of a challenge, try
making slide decks and sharing them on SlideShare.
Get Ad Promo Credits.
While massive ad campaigns may
be out of your budget, there are often discounts and coupons floating around
for paid Facebook ads or Google ads. Some web hosting services offer
advertising discount codes as part of their membership offerings. Check and see
if yours does.
Reddit.
Reddit, a bare-bones social
network self-titled as the “front page of the internet,” can be a powerful tool
when used strategically. Reddit is composed of a very tech-savvy audience that
bristles at any obvious marketing tactics.
To win at Reddit, share only
truly awesome content, and post only to extreme niches. In Reddit, there are
subcategories (known as subreddits) that deal with some of the narrowest, most
specific interests in existence. There’s a subreddit for lockpicking (/r/lockpicking ),
a subreddit for unicycles(/r/unicycling), and there’s even a subreddit for
admiring beautiful handwriting (r/PenmanshipPorn). (And of course there’s one
for SEO.) Find your niche and dominate.
Be a Savvy Social
Networker.
Create business accounts and
participate in the big social media sites – Facebook, Twitter, LinkedIn,
Google+, and Pinterest. Add Instagram in there too if your business is
image-oriented.
Stumble Upon
Advertising.
If you want to try some paid
advertising but you’re not looking to break the bank, Stumle Upon’s Paid Search
Discovery could be for you. Paid Discovery delivers users straight to your
site, ready to engage. What works best on Stumble Upon? Photography, visual
assets, and humorous content.
Stumble Upon is pretty cheap
compared to other paid ad structures. You start with a base price of 10 cents
per click, then add +2 cents for age targeting, gender targeting and device
targeting. You can see the whole price list for detailed info.
Whichever way you spin it, Stumble Upon’s paid offering is leagues cheaper than
most other social media ads; Facebook ads, for example, can cost as much
as 80 cents per click.
To really benefit from Stumble
Upon, use targeting options to make sure you’re hitting the right audiences and
niches.
DIY
Infographics.
Infographics are insanely
powerful marketing tools. They’re visual eye candy, they’re easy to digest, and
people love to share them, so they’re a great way to drive up referral
traffic and links. Hiring a designer to make you an A+ infographic can hit
your wallet hard, but you can make your own on the cheap if you don’t mind a
bit of a challenge.
Give New Life to Old
Data.
If your marketing budget it
tight, you might not be able to always afford content writers to whip up
content for your blog. If you’re in a dry spell, instead of making something
new, breathe new life into something that already exists on the web. There are
a ton of data studies and stats available on the internet. While some of these
studies may get initial traction, many often go unnoticed.
Find a study that relates to
your industry and polish it up. Highlight the most important or interesting
parts of the study, add images, crank out some charts, and make your own
thoughts and predictions based on the data.
You don’t need to be a master
writer for this strategy – the data will do most of the heavy lifting for you.
One man’s throwaway data is another man’s content success story! Just be sure
to cite your sources and give credit where it’s due.
For government data, check out
data.gov or The Census Bureau. Global statistics can be found through UNICEF and
the World Health Organization. Ultimately, you’ll have to find source
data that relates to your industry and audience interests.
Lounge About on
LinkedIn.
LinkedIn is a major social
media site that is often under-utilized. Don’t just add network connections and
sign out – join groups, enter into dialogue with connections, and share your
blog posts. There’s a ton happening on LinkedIn, and it can be a great place to
promote your content, share ideas, and build your brand.
Recycle Your Content.
Just as you can repurpose
existing data studies, you can rehash your old content into new creations as
well! Turn a webinar into a video tutorial. Transform a collection of blog
posts into an ebook. Never be afraid to mash-up your old content – chances are
there will be a ton of people who never even saw your old stuff, so it’ll be a
fresh, 100% new content piece for a large segment of your audience.
Develop a Customer
Referral Program.
Offer existing customers a free
product, free month of service, or some other reward for referring new
customers. Remember, word-of-mouth is powerful stuff, so friends
telling friends about your business is incredibly valuable.
Online Contests.
You’ll need to cough up some
dough for a prize, but the number of participants and new potential leads you
get will be well worth the price. Really tight on budget? You don’t technically need a super expensive prize to
get participants. Even a couple high-end water bottles or fancy backpacks might
be enough of a draw for some users.
Industry
Partnerships.
Team up with a business related
to your industry (but not a direct competitor) for a joint project. This can be
done locally offline through some kind of special event, or online with a
webinar or promotional giveaway.
Partnering with another
business means twice as much notice. If you’re partnering with an
industry-relevant business, you’re getting introduced to a whole new audience
related to your niche. People pay big money for that kind of access!
Apply Online for
Business Awards.
Most industries have business
awards you can win, providing you with an online badge you can place on your
website. Badges like these can boost credibility, and as a result, increase
sales.
If there aren’t any awards for
your industry, host your own! You’ll get a ton of attention from other industry
businesses who want to apply for your award, which means even more connections
and more possible future collaborations!
Local Marketing Ideas for Limited Budgets
Local marketing can often be
less expensive than massive online campaigns. Your reach is smaller, but if
your business is regional, there’s no better (or cheaper) way to build your
business.
Awesome Business
Cards.
Get yourself some snazzy
business cards, then give them to every person you lay eyes on. Every
handshake should come with a business card. The more people who find out about
your business, the better – even if it’s just a quick glance at a business
card.
Guerilla Marketing.
Guerilla marketing emphasizes
creativity over budget, and strategies are often cheap and easy to implement,
especially when localized. Broadcast your Twitter handle with sidewalk chalk,
use an abandoned storefront as a canvas for street art, or plaster custom
stickers on urban décor that makes those who stroll by look twice. There’s a
ton of room for invention here, and you don’t need a big budget to be
successful.
Host an Event or
Class.
Plan an event or class to host,
then print out flyers and post them on community bulletin boards (libraries,
coffee shops, local colleges and adult ed centers). While most community
bulletin boards won’t let you post business advertisements, they’re often more
than happy to post a flyer promoting an educational event or class.
Business Card
Drawing.
Put a fishbowl at your place of
business with a sign asking visitors to drop their business cards in for a
chance to win something from you (for example, a restaurant might offer a free
pizza party).
At the end of the month you’ve
collected a ton of business cards, and while you can only have one winner,
there’s no reason those other business cards have to go to waste. Use the email
addresses provided to let users know that while they haven’t won this time,
they are more than welcome to join your mailing list, which will notify them of
future giveaways and special offers.
Email Marketing.
Email marketing is a great way
to get new visitors engaged with your business, as well as maintain
relationships with your existing customers.
Get new website visitors to sign
up for your newsletter by offering a bonus content piece for subscribing
(e.g. get your free ebook detailing how to make a homemade pizza when you sign
up for our First Slice newsletter). Slowly nurture your subscribers via email
until they are ready to become paying customers. Start your email campaigns
with a free email marketing service like Mail Chimp.
Join in on Local
Contests.
Consider donating a product or
service of yours as a prize in a local contest or event.
