5 Effective Low Budgeting Marketing Strategies for Startups
| 5 minutes read
According to SBA (Small Business Administration?), do you know over 627,000 new startups establish each year? Therefore the competition among small businesses is high, and we all know the survival rate of startups is low. So now the question is how you can do marketing for your brand? Generally, startups don’t have a hefty budget, so what is the solution? Have you heard about the term ‘Low-budget marketing?’ If not then kindly read till the end to understand the marketing strategies for startups.
When you establish a startup, there is a long checklist you need to do in a limited timeframe. In order to compete effectively, and aggressively business owners need to be ready to give marketing all it takes.
Honestly, no matter how outstanding your business’s product is, it’s useless until and unless your target customers are not familiar with your product. In this situation, marketing plays a most crucial role. Also, without getting it into the customers’ view, the startups will hardly make any profit. In contrast, marketing is a primary part of any business operation. It can make the difference between an outstanding business and a struggling one.
There are various forms of marketing available for multiple businesses. With the advent and advances in technology, the forms of marketing have also evolved over the years. Thus, identifying some of the best forms of marketing that suit your business is important for success.
Here are five low-budget marketing strategies for startups that can help startups to increase sales, generate referrals, and increase revenue ultimately helping you build your cash flow while spending little.
1. Content Marketing
The first and foremost that comes in marketing is content marketing, here a little investment is required, and if done appropriately, you can get back unbelievable returns. This form of marketing has multiple sides and approaches, so do not restrict yourself to the same approach again and again.
For a start, you can establish a company website where you share each detail of your business with the world. You can add a separate blog section on the website where you can keep adding the new content as regularly as possible to educate and entertain your audience. This process will help users to understand your product model and the upcoming products you’re going to offer. And of course, it will help to create a buzz in the market.
You can post the content in a blog, videos, podcasts, and many other options available. Another approach would be the guest blog for high traffic to your website. If your website has enthralling content, your brand reputation will significantly improve through inbound and outbound marketing. And if you want to reach a wider clientele, then you can hire professional translation services to localize your online content.
The average cost of content marketing can range from $30 to $30,000 per month, depending on your business size, goals, marketing budget, and resources.
2. Social Marketing
When we talk about social media, suddenly we get names like Instagram, Facebook, Twitter, and many other platforms. But do you know social media platforms have the potential to boost your brand? Social media comes with opportunities and possibilities for businesses to expand their operations and promote their growth.
The use of social media as a marketing strategy is an indisputable force in the world today. In fact, social media has become a platform where you will find people of all countries, ages, tribes, and colors.
A Facebook fan page, Instagram, a verified Twitter account, etc., are all social media platforms that your business could hold for effective marketing. Through a social media platform, you can do anything beneficial for your startup. You can run a campaign, take views from your followers, or do something that can create awareness of your brand. Always remember creating an account is just a beginning, you have to start from scratch, and with some plans and strategies, sooner audiences on social media will start recognizing you as a brand. Try to post inspirational, informative, suggestion-based posts, and of course, you can advertise your upcoming product on these platforms.
For professional social media advertising services, prices range from approximately $300 to $2750 per month. This rate does not include ad spend.
3. Email Marketing
Did you know about one-third of people in the US check their email every day and an additional 40 percent check their email more than three-four times a day? That being said, email marketing remains to be one of the best traditional and low-budget marketing strategies you could go for. But there is a catch if your email is not appealing or if you don’t know how to write like a pro when it comes to writing something professional. Then it’s better to hire an agency that could manage all your emails. In fact, many people believe that email marketing is the next best idea in digital marketing.
Email marketing offers high open rates, quick responses, and vigorous customer feedback. On the other hand, however, understanding the rules to follow and being mindful of customers’ needs is important for an outstanding email marketing experience. If done appropriately, this type of marketing system can be a powerful component of your digital marketing strategy. If you are not sure how to start, then hire an agency that fits your budget.
As long as you have a substantial list and a steady stream of outgoing email blasts, you can observe the enormous impact and a significant return in revenue.
For email marketing, you can expect to pay anywhere from an estimated $300 to $2,500 per month for email marketing services. The total amount depends on how many subscribers you have, how much of the work you will do yourself, and the platform you use.
4. Guerrilla Marketing
This marketing strategy is one of the most interesting strategies you can go for. Have you ever seen a large picture of a ‘French Fries’ on the road near signals in the place of zebra crossing? That kind of advertisement is known as guerrilla marketing. This was one of the examples of guerrilla marketing.
Even with social media and the internet taking over the world, there are still many guerrilla marketing methods that can work for you. These marketing strategies involve creating a buzz around your latest products and services offline and grabbing the customer’s attention. It includes creating entertainment and information about your products. Audiences will see your ad; people keep talking about the positives and benefits of your products. Overall you get a boost in your business and you secure the brand name in the industry.
Guerrilla marketing can cost you around $400, it may vary depending on the location and the product you chose for marketing.
5. Visual Marketing
When you visually see someone, you form a quick opinion about the authenticity. The same can be said about a business. When any customer sees your company through visuals, he/she quickly reaches a point and forms an opinion. That’s why business entrepreneurs should create some sort of welcoming video on their homepage, so users can meet the human behind the brand. Don’t hide behind a corporate facade. Get real.
Communicate with the customers what they want to know, not the story of what you sell. Try to be realistic rather than showcasing your corporate nature and understanding. Overall, people should connect with your thoughts so they can accept your product and services. The method to introduce your brand through a video is easy to explain about how you can help your customers through your product and service offerings. The only thing you need to take care of the sound quality and spell each word clearly; this will make an impression on viewers.
The average estimated cost of the visual marketing would cost you around $350- $2000, depending on the quality of the video you choose, along with the time duration.
There are other effective and low cost marketing strategies that startups can adopt. Since startups don’t have colossal advertising and marketing budgets typical of large corporations, these five low-cost yet effective marketing strategies will help expand business.
Remember these strategies are not the guarantee of success, but these strategies will help you to grow your business and if you implement these strategies systematically with the guidance of professionals then chances are your brand will get success.
Keep in mind that the only difference between someone who succeeds and someone who fails is – persistence.
Suprotik Sinha is the Content Writer with Synkrama Technologies. He writes about technologies and startups in the global enterprise space. An animal lover, Suprotik, is a postgraduate from Symbiosis Institute of Mass Communication (SIMC) Pune. He carries 6+ years of experience in Content Writing, and he also worked in mainstream broadcast media, where he worked as a Journalist with Ibn7 ( now known as News18 India) and Zee Media in Mumbai.