The term “Startup” is defined as any business, which is in the initial stages of its operations. A startup; as specified by its name, is the starting point of any business entity. That is where any corporation or business faces many challenges to its existence and growth. One such challenge is marketing.
Adopting appropriate marketing strategies is very crucial for your business to succeed and put up with other competitors. These marketing strategies can prove to be a game-changer for your business entity.
Whereas one might think that these marketing strategies may be too expensive for the startups to adopt, as they are already having a very limited budget, the problem is that all business entities have to rely on marketing for their growth.
So the question here is, how can the startups adopt these marketing strategies without having to spend too much money?
Here in this article, we have some easy and affordable marketing strategies that are really helpful for startups having a low budget for marketing.
Implement Referral Marketing Strategy:
If you want to create awareness of your business among people really quickly, then a referral marketing strategy would be really helpful for you.
This is a very basic concept in which your customers promote your business for you. You ask your clients to suggest people buy your products or services. People are happily willing to do it.
You may offer certain rewards in return for promoting your business. People are more likely to be persuaded by someone whom they already know. Hence, without having to spend any money, your products will be advertised.
This strategy has proven to be much useful as well as cost-effective for startups.
Utilize Content Marketing:
This marketing strategy is much more cost-effective and it is focused on making, publishing, and distributing content for a specific audience in the market.
It is most often used by startups to attract a large audience, grow their customer base, and grow their sales as it does not require a lot of investment.
There are lots of approaches you can adopt, for example creating a blog for your business where you can frequently add fresh and exciting content every week that keeps your customers updated as well as entertained.
This content can be in the form of pictures or videos which can be used as a medium to promote your products. With the help of a video maker available online you can easily create catchy video content for your business according to the needs of your customers.
Let Video Marketing Do the Job for You:
This strategy is based on the motto “what is seen is sold.” Hence catchy visuals are used for promoting the products in this strategy.
You can make videos for advertising your products, explaining how they are made, how they can be used, or simply a video about how this product is different from others.
These video advertisements can then be published on television, on digital billboards, or across the internet. These videos will help your brand reach out to a large audience.
Nowadays, the online video editors available on the web, have made it a lot easier to create and edit video ads professionally, and that too without having to spend piles of money.
These video makers are mostly free and consist of amazing features which help to create intriguing and lovely advertisements for your products.
Startups can rely on an online video editor to help them create intriguing video ads even if they have a low marketing budget.
Benefit from Social Media Marketing:
The large variety of social media platforms available these days and their excessive use in business have benefited startup businesses a lot.
All you need to do is set up profiles for your business on Facebook, Twitter, Instagram, and other social media sites and then publish content related to your products for advertising.
The large audience present across these platforms helps your business to reach out to more people. This strategy is currently being utilized by many businesses across the globe and it has proven to be highly effective.
Nowadays, you see many advertisements as you scroll through your feed on these platforms. These advertisements are not costly as these platforms relatively charge very low for promotion services.
Also, one can easily create these catchy advertisements using online video editors, which are mostly free to use. These video makers have many templates and in-built features which aid in creating an eye-catching advertisement for your business.
These free online video editors have made social media marketing relatively cheap and easier to adopt for startups.
Become a Sponsor:
Well, if you want your business to be well-known among the customers, becoming a sponsor for an event can do the job for you.
All you need to do is sponsor a certain event, which your targeted audience is likely to be a part of and then your brand’s name will be seen everywhere around the event.
For example, if there is a football event in your locality, and football is much liked by your targeted audience, then you can sponsor that event.
Your brand’s posters and advertisements will be shown across the stadium during matches as you are the sponsor. It will help your product be well-known without having to spend a lot.
Giveaways can be an extremely efficient mode of marketing when used appropriately.
You may giveaway toys, shirts, keychains, or other simple items to the customers buying your products. You can also hold contests and then giveaway items as a reward.
Try to make your giveaways interesting and exciting. This will ensure attracting a large audience and hence promoting your products for almost no cost at all.
Giveaways boost your sales and make your brand well-known among customers.
The strategies explained above are much more affordable and easy to adopt for startups that don’t have lots of money to spend on Marketing.
If used appropriately these strategies can prove to be highly effective as well as cost-effective.