However, the reality is that up to 90% of startups will not make it. One of the biggest challenges is financing.
The cost of setting up the business drains available finances. The situation becomes worse when the entrepreneur does not do proper market research and business forecasting. They end up spending much more than they had initially thought they would.
However, one reality remains. Every business must invest in marketing. How do you expect to get market awareness without it?
This article will look at seven low-budget marketing ideas for business startups in 2023. We aim to provide cost-effective, and in some cases, free ideas. You do not need the spending might of giant corporations to get some visibility.
Let’s get into it.
Table of Contents
Low Budget Marketing Ideas Every Startup Should Utilize
Local Business Listings
Get access to customers near your business by listing them in the local listings. It helps with local SEO and increases your visibility within your locality. Such listings include Google My Business, Bing, Apple Maps, and Yelp.
You improve your chances of appearing on search engines when someone searches for a business offering what you do. If, for example, you specialize in corporate cakes.
Someone may type in ‘corporate cake sellers near me.’ If you are in the local listings, you increase the chances of appearing in the search results.
Social Media Marketing
The social media space has so much potential for free and paid marketing. Yet, it is interesting to note that up to 40% of small businesses have not taken the time to develop a social media marketing strategy.
Such businesses may use the platform, but the container placement is haphazard. A post here, a picture there, and other random content are what they do.
When coming up with a strategy:-
- Understand what platforms your target audiences use
- Pick the platforms that will serve you best. Do not try and use them all. You will be spreading yourself too thin
- Focus on creating platform-specific content. It is not a good idea to copy and paste content on all the platforms.
- Instagram and Snapchat, for example, are image-heavy.
- Facebook allows for more leeway.
- Twitter places a limit on the words you can use.
- LinkedIn is ideal for reaching professionals
Take note of the following:-
- Remember to engage with your audiences.
- Encourage them to like, share, subscribe, and retweet.
- Respond to queries promptly; otherwise, you could invite the wrath of your audiences when you ignore them.
- Use Hashtags on your posts. Be strategic about them by using the right keywords, location-based or custom hashtags.
- Link all your social media accounts to your website to increase traffic.
- Use some paid opportunities like post boosting for maximum impact.
Utilize Content Marketing
Content generation offers you an excellent opportunity to get your name out there. Have a special section on your website for blog articles.
Next, work on creating relevant, engaging content. Relevant in that you have taken the time to understand what your audiences need.
You then provide insights, tips, and solutions in your blog articles. It helps to be consistent so that your visitors know when they can expect new content.
Create content with a focus on Search Engine Optimization. Search rankings are critical if you want organic audiences. Some tactics to improve your SEO include:-
- Ensure fast-loading pages
- Optimize your website for mobile
- Improve your visibility with the right link-building techniques.
SEO can be difficult to get right for beginners. That is why it is important to put some money aside to let the experts help. A blogger outreach service, for example, can help with the often challenging link-building.
You want high-quality leads that will land you on authority websites. You also do not want Google penalizing you for wrong link-building techniques like buying them. That’s why hiring professionals to help you with content marketing can lead you away from trouble. If you have enough resources, you can also create a team that focuses on this task.
Take Advantage of PR Opportunities
PR works very well because it is a 3rd party endorsement for a brand or product. Contribute articles to a platform like HARO (Help a Reporter Out) with newsworthy stories.
Take advantage of press releases and editorials to build your presence in the market. You get links to authority websites. The journalists will also keep coming back to you for commentaries.
User-Generated Content (UGC) Will Save You Cash
User-generated content provides a great cost-effective way to engage and build your audiences. You will need to come up with creative ways to get people to share their content with you.
Pick a leaf from Coca Colas, and Share a Coke campaign. It was so successful the whole world took part in it.
UGC could be in the form of images, articles, videos, or testimonials. Make sure you have their permission to use the images. Put aside some money for rewards or campaigns to get the audiences interested.
90% will buy a product because UGC swayed them to take the desired action. Need we say more?
Email Marketing Is Still Important In 2023
No list of cost-effective or low-budget marketing ideas would be complete without email marketing. All you need is a target list, and you are good to go. Some points to note, however:-
- Segment your list for easier targeting. It will increase the chances of open rates
- Do not bombard your audiences with emails. If you send too many, they may send you to the junk folder
- Create engaging content
- Invite better engagement with discounts and promotions.
Actively Participate In Industry and Community Events
Get out there and be an active participant in industry and community events. Take part in trade shows, exhibitions, and workshops.
Offer mentoring opportunities, be a speaker at events, and volunteer your time for community projects. Other than building a reputation, you will get mentions on their websites. You could even appear in the local news.
Marketing for a startup company does not have to break the bank. There are so many cost-effective avenues you can use.
We have only touched on 7 low-budget marketing ideas for business startups in 2023. But proper implementation can help build your brand in the market.