How to market your business on a shoestring

 In Business Loans & Tips

Whether you’re embarking on your first marketing adventure as a new business, or planning your next annual marketing strategy and spend, there are quite a few options available that are low on cost but can net a high response rate. Here we explore a few and look at how you can begin setting them up.

Email database

Don’t underestimate the power of email. Some days we all feel like we drown in too many emails, but they still have far higher open rates and click through rates than social media. If your emails are well thought out and engaging then you will be able to effectively reach people via this method. Explain the benefits of joining your email list to encourage people to subscribe and don’t be afraid to send out updates, at least monthly, to share informative, engaging and educational content.

Social media

It’s here to stay. Facebook added another 1 million users between December 2016 and January 2017 taking them to a total of 16 million Australian users. Instagram now has 5 million monthly active Australian users. If you are working on a B2B strategy then you have access to 3.6 million professionals in Australia via LinkedIn. Have a look at who your target market are, and where they are currently looking online. It’s much easier to put yourself in front of your target audience than try to make them come to you.

Referrers and influencers

Marketing is built around people and human nature. As humans, we naturally turn to other people for recommendations. 92% of consumers trust recommendations from people they know directly, and anonymous reviewers have a 70% trust rate when they post online about a brand. Think about who you know, who you’ve worked with before, who loved what you do, and use those connections as much as you can. Ask them to give testimonials, reviews and share their experience.

Networking

We all belong to community groups, whether it be through schooling (our own, or our children’s), sport, neighbours, colleagues, or even family. Add to this all the online opportunities to join networks and groups. Think about what materials you can produce to encourage those people to share your business with others. You aren’t necessarily asking your family and friends to spend money with you, but to share your business with others they know. It might sound simple, but if enough people remember what you do, the potential number of word of mouth recommendations you could receive is quite high.

Ask around!

Don’t feel like you are alone in not being sure where to promote your business and what you should be spending. There are so many options when it comes to marketing and spreading yourself too thin by trying to be everywhere will prohibit you from focussing on where you can attract the most attention and conversions.

Don’t let your business finance take up any more energy than it needs to either. Enter your information to see your options online at business.afgonline.com.au.

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