Are you a small business owner looking to grow? Many small business owners are held back from growth due to lack of time, ideas and budget. Marketing your small business doesn’t take a huge amount of money. Small biz owners on a budget often turn to online marketing as well as collaborative ideas and networking opportunities in order to grow their revenue. In this article, we’ll explore 10 ideas that will help you market your small business without spending a ton of money!
Marketing Your Small Business on a Small Budget
1. Social Media
You’ve heard it a million times by now, but if you’re not already taking advantage of social media for your small business then you are truly missing out on a huge opportunity for growth. According to Hootsuite.com, “60 percent of Instagram users say they discover new products on the platform.” With billions of users and more added everyday, social media channels are the best way to gain organic growth for your business. Build brand awareness by posting regularly and engaging and connecting with other businesses and potential clients.
The best part about social media marketing, it’s free! No need to spend any of your budget on social media (unless you want to kick it up a notch with boosted posts or paid advertising). Here’s what you can do to market your small business on social:
- Build your following organically by following, liking and commenting on your target audience pages as well as other local or relative businesses.
- Post helpful tips, tricks, facts, and industry updates on your feeds and encourage follower engagement by asking questions.
- Share your content as well as other valuable content with your followers.
- Share new promotions, services, pricing updates, events and news about your business on social.
- Show your company’s personality by showcasing your team members, making videos with bits about your personal life and sharing stories that help you relate to potential clients.
- Share downloadable resources or offers that lead to pages where prospects can input their information to help grow your database.
Two statistics that really should really stand out to small business owners about blogging are ….
- B2B companies with blogs get 67% more leads than those without. (Source)
- 61% of US consumers have made a purchase based on a blog post. (Source)
Content creation on your blog is an excellent low budget way to get more business. Blogging opens up many opportunities for you to reach new audiences, discuss topics that will showcase your expertise and promote your services in a unique, valuable way. How tos, top tips, checklists, case studies and industry news updates are all blogging ideas for you to help build your brand awareness and generate new leads for your business. Not only will blogging help you with having more content to share with your email database and social media followers, it will help increase your search engine rankings on your website to boost the likelihood of customers finding you through internet searches. For more information on how blogging effects search engine optimization, read this article.
Marketing your business through collaborations is a very creative way to drive more revenue your way. Collaborate with other local business owners or businesses that offer services that complement yours. Here are some collaboration ideas for you to consider:
- Instagram Live or Facebook Live “Chats”
- Promotions such as coupons, offers or limited time deals
- Workshops or webinars
- Video marketing
- Live events
4. Live Virtual Events
Whether it’s a collaboration or just for your biz, live virtual events are a budget friendly way to market your business. When you host an in-person live event you have a ton of expenses including the venue, food, drinks, print marketing materials, etc. However, if you choose to host a virtual event, you have the opportunity to keep it low budget and still provide the same value to an even larger audience. Virtual events are great because you can spend your budget on marketing the event and then focus on creating an experience online. Another benefit of virtual events is you can record them and reuse it for content! Hootsuite has a great article on hosting a virtual event here.
5. Email Marketing
Take full advantage of your list of customers, past clients and network by implementing an email marketing strategy. Here are some ways to engage your email database for better small business marketing:
- Weekly blog updates
- Monthly newsletters with recent content, news, and industry trends
- Nurturing email campaigns to follow up after a visitor downloads something from your website
- Promotions and offers on services
- Promotions for your live or virtual events
6. Lead Magnets
Have you heard of the benefits of lead magnets for your business? A lead magnet is a downloadable offer that your target audience will find irresistible. In exchange for their email address, and other valuable information if you choose, your ideal client will have access to a valuable tool, guide, template, eBook, video or another intriguing offer you create. We have an entire article about lead magnets and their benefits for your business — check it out here!
7. Video Marketing
Did you know that according to an article on Forbes.com “66 percent of consumers prefer watching a video to reading about a product.“ And the best thing about video marketing — it’s free! Grab your mobile phone or turn on your computer’s webcam and get to work! Creating a video takes just a few minutes and is a low budget, highly valuable way to reach and connect with your target audience. What should you make a video about? Here are some ideas:
- A client story
- Opinion on a recent industry update or trend
- Announcement for your business
- Tips and How Tos for your target audience
- Promotion about your recently published content
- Promotion about a service or offer
- Get personal – talk about something that relates to your target audience outside of business
Ready to start marketing your small business online? Growing your business takes time and money, but it doesn’t have to be overwhelming or cost a fortune. Use these tips to help maximize your budget and reach your target audience with online marketing. Having a small business marketing plan is the first step in reducing the overwhelm of marketing!