As startup entrepreneurs, your main goal is to make money. Owning your own company certainly is not ALL about making money. But in the interest of being able to continue your mission or movement, funds are necessary. A business thrive is measured by the gap in between income and expenses. In the beginning when you are launching products and growing your social media following it can be hard to determine whether you should include marketing in your budget right away. Paid marketing is amazing and can have a big return on investment. But remember, the key is to keep the gap in between your expenses and income. As you grow your expenses can and will increase, but so will your income. This is what justifies being able to hire outside help and delegate other tasks to employees. Lucky for those of you who have minimal startup funds, there are a few options to market your business for free!
Social media rules the marketing world. For big companies, this means adjusting and getting to know their customers better to interact with their everyday lives. For startup companies, social media is a chance to grow a following FAST. For small-midsize companies, the social media craze means that launching a product or service can mean instant overnight sales, literally. The best thing about social media is that it’s free! Of course paid ads costs coins, but there’s a host of things you can do on social media to market your business that are completely free. For example, on Twitter, sharing blurbs of helpful information lets your clients know that you are THE go-to expert. These little tweets can be retweeted and reach millions of users that share the same interests as your followers and link back to your page. Every share is free marketing and puts your brand in the eyes of people you may not have encountered otherwise.
Word of Mouth
Word of mouth comes from a combination of great products and customer service. When a consumer has a bad experience, they tell everyone they know AND take to the internet to tell everyone they don’t know. But it works the same way when they have a GREAT experience. Word of mouth is a great marketing tool for companies that have a loyal consumer base. Great products inspire consumers to write great reviews and great reviews sell more products. It’s a winning cycle that you want to be a part of. Customer service also affects word of mouth. Customer service is defined as the entire consumer experience from initial inquiry to after purchase. Your packaging, website, email interaction, social media interaction, shipping etc. is all a part of your customer service. If you take care of your customers, your customers will take care of you.
Networking events are a chance for shy entrepreneurs to step out of their shell and get their brands into the eyes of the public. Some of these events are free, but not all. Taking on the free events first gives you some time to become familiar with giving your elevator speech. These events are a chance to let people get to know your brand and who you are. The best marketing is face to face conversation, where people can ask as many questions as they want and share an emotional connection to what you do. Blogging also happens to be a free form of marketing. As unusual as this sounds, it doesn’t cost you anything to write and the more information out in the internet sphere about your business the higher you will rank in the google search when customers are surfing the web. There are many beginner sites for blogging that will allow you to start for free. Blogging is a great way to establish yourself as an expert in your niche and show your ideal client that you know what you are doing.
Not all marketing has to break the bank. The ways shared above to market on a tight budget are only a few. There are multiple opportunities to get your business noticed and put your products on the map. Good marketing is about creativity. Be sure to think outside of the box and take every chance available to speak about your business no matter where you go.