Did you know that 50% of startup businesses fail before the five-year mark? This is a statement you have probably heard in your search for business advice, and it can be quite discouraging. However, instead of buying into the fear of such statistics, you can learn why the remaining 50% succeed.
Vigorous marketing is one of the ways to make a business successful. Unfortunately, you may not have the money to pay media houses or billboards as successful companies do. In that regard, here are five affordable marketing tips that can make your business survive any economy.
1- Create Content
Content marketing is the best thing after media advertising because it’s able to tap into the hearts of your target consumers. The secret behind creating great content is helping people through blog posts, newsletters, social media content, and vlogging. Answer questions people have about products or services, give valuable information, and unleash secrets that will help people in their day to day life.
Content creation connects you to people emotionally, and they feel like you are friends because you are helping them. Make sure you leverage social media and influencers to create awareness of your content.
Assuming that you know how people will behave towards your products or services is a big mistake. You have to research your target audience through social media, surveys, and forums to know what people need. You can also tap into software like Spotio, an alternative to MapPoint, and get business data, sales trends, and success rate in a particular area from the comfort of your phone.
2- Scalable Advertising Channels
There are plenty of other advertising channels today besides TV, newspapers, and radio. For example, you can use Facebook ads, Google Pay Per Click ads and of course, registering in Google Business Directories. Some companies play your promotions as their ring tone or when you are on hold. You can also brand your car to have a moving billboard as you drive around.
3- Take Advantage of Free Media Coverage
You may not pay the media to advertise your company, but you can definitely milk them for free coverage. Some ways to do this is sponsoring events, doing something for your community, or getting involved in contests and award ceremonies. The media will give free coverage to such events, and you get your 15 seconds of fame.
4- Giving Gifts
The one marketing strategy that has remained through the years is giving gifts. Free branded pens, caps, key holders, and balls are still a hit even today. Have a target audience in mind and give them gifts that won’t cost you much. Research shows that when a consumer sees your brand name in the pen they use every day or that mug on their desk, your name will come first when they need your services.
Marketing doesn’t have to cost an arm and a leg in this social media era. All you have to do is think outside the box and make sure you reach as many people as possible.