Having a successful business means spending money on marketing. But many startups have a very restrictive budget. So how do you market your startup without breaking the bank?
1. Loyalty Programs
Did you know that an existing customer will spend roughly 70 percent more than a new customer will? And creating a loyalty program is an effective way to establish relationships with existing customers to keep them coming back for more. Consider offering exclusive services, products, promotions, or discounted prices for returned purchases at your place of business.
2. Network. Network. Network.
And did I mention network?
Leverage your personal and professional network for the best results. Why? Because the people and businesses in your network already trust you personally, so building this out to include your operation is a natural extension of that trust. Additionally, consider networking within industry groups. When you make yourself known in industry groups – even if these groups are only online – you build your authority and reliability. So post, comment, and offer suggestions when you can. Be active. Ask and answer questions. You’ll be standing out before you know it!
3. Work with Other Startups
This is taking your networking approach to the next level. Partner with other local startups for maximum results. Consider package deals or referral programs that allow customers to get a discount or deal at both businesses.
4. Email Marketing
Never underestimate the power of a well-written email to entice potential customers. When you reach out to keep in touch with someone who’s stopped by – either in person or online, you’re further developing your brand, attracting leads and customers.
5. Offer Discounts or Trials
Everyone loves to get something for free, and potential customers are no different. A great way to get new clients quickly is to offer a free trial or a discount on a more substantial service. Discounts and trials are low-risk operations that offer high-return on your investment. And they’re an ideal way to drive conversions.
6. Start Writing
Content marketing is a powerful tool when it comes to attracting new leads to your landing page. By keeping content current, relatable, informative, and highly shareable you can quickly establish yourself as an industry expert, someone potential customers will seek out to help solve their issue.
7. Public Events
Speaking at public events such as city festivals or holiday events can be a fun, social way to spread the word about who you are and what you do. Keep it friendly and soft, but the contacts you make at public events like these always have a way of coming back to roost, in the form of potential work.
If you want your startup to thrive and grow, marketing needs to be an essential part of your business plan. You don’t have to spend a lot of money on marketing, especially when you back up each of these points above with a great product or service.