Low Budget Marketing Techniques

Low Budget  Marketing Techniques
Every dollar counts and it is important to make sure that your business gets the most out of your penny allotted for marketing. Successful marketing does not always require a big lucrative amount of spending. We have compiled the top 5 most effective marketing techniques with low budget.

 

-Maximize Referrals

One of the most cost-effective technique of expanding your customer umbrella is by referrals from satisfies customers. Nothing beats the word of mouth approach to penetrate a much larger audience. It is almost like getting free advertisement which will help your business save extra money. One good marketing practice to boost your referrals is by getting incentives to existing customers who are able to bring customers to your business. For example, an existing customer will get a specific discount on her next purchase if she gets to tag a friend along with her on her next visit. If the tagged along friend gets to like your product or your service, then he may also join the referral incentive thus giving your business more customers in the long run. You just have to make sure that the your business can afford the discount and at the same time should be appealing enough for your customers to take advantage of. It will be a win win situation, but you as the business owner should always have the upper hand in promotions such as this one.

 

-Low cost social media techniques

You may start your own blog and create a buzz through it. Use available inexpensive tools in Facebook, Twitter or LinkedIn to create a little controversy about your business, but be careful and make sure to observe moderation because too much buzz and controversy may be bad for business.

 

Provide Excellent Customer Service

People will talk good about your business if they receive excellent customer service or treatment. This works all  the time, and should always be given focus in every marketing plans. Your staff or employees should be always be polite and accommodating and your product or service should live up to its promise as advertised. If you can, you may exercise the extra mile technique for new customers to let them feel that your product or services has an edge compared to others at least in providing customer satisfaction. According To survey, a consumer is more likely to return based on the service she received rather than the product or service itself.

 

Build a partnership

A small business owner should be aware of the possible good outcome of building a partnership with another company where both parties will benefit from each other. For example, you own a small tutorial center, you may visit and befriend or at least submit a proposal to the schools in your local community. The schools or academic institutions may refer your tutorial or review center to their students and in return, you may offer them referral incentives or bonuses. Local partnership such as this will foster the idea of unity and support in your community. People more often than not  adheres to recommendations from trusted and tried businesses referred to them.

 

 

Be Involved in Your Community

This works well for small businesses that aim to target locally. Make your presence to the community by joining local civic affairs. Be on the know of upcoming events in your area, and always be keen in identifying how you can integrate your  business to those events. You may host the event, or you may join the committee that is in charge of programs. That way you have access to know the people that will be involved in the events, and from there you can build your way to introduce your business. An open mind and creativity should always be present in this technique.