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market your business

Powerful Ways To Market Your Business When Money Is Tight

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Oct. 9 2019, Published 9:39 a.m. ET

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When you are a small startup company, there is one thing that is lacking; not your dreams and passion, but the budget. So it can be a struggle to get things going as fast or effectively as you might have originally planned, just because you don’t have any money to do what you need to. So unless you are a startup with venture capital or an angel investor, you will probably have a limited marketing budget. With that in mind, here are some of the ways that you can market your business even if there is a limited budget.

market your business
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Socialize on social media

It is hard to get away from the fact that the majority of people use social media in one form or another, and that number has grown and grown over the past decade. And there is no doubt that is going to increase over time. So if you want to market your business, then social media is an effective (and free) way to do just that. Even if you do utilize the ads on the channels, they are much more cost-effective than other forms of advertising, especially as you can specifically target your audience. Of course, all of the social channels are individual and are best for different things. So it is a good idea to think about your ideal customer and think which channels they would be using and then go from there. There is no need to be on all channels.

Online Ads

If your business is a local business and will only suit people that are close to you, then using things like posters and billboards can make a difference. But if you are based online, or can service pretty much anyone in the world, then using the internet to advertise is a good way to go. You could look into simple and easy Google Ads automation if you want to go down that route, or how about using links and building your SEO in order for more people to find you online? Again, you can work with bloggers for ads on their sites, as well as social media ads. Once you’re online and have ads, it will help as it will show the people that are most interested in what you do, which is something that has an advantage over things like billboards.

Contests and giveaways

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Can you think of anyone that doesn’t like to get a gift for free? So why not giveaway some items of yours or vouchers or discounts for what you offer? It can be a good way to build some brand awareness, especially if you are new on the market, and it can be a good way to connect with potential customers. You don’t need to spend a lot either. Just choose something that is relevant to the season or something that is a must-buy, and it will help to create some buzz around it. You could also work alongside influencers or bloggers for reviews on products or services in exchange for promotion, as well as using them to promote a giveaway. 

[Editor’s note: This article is produced by one of our trusted partners.]

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