If your marketing budget is limited, there may be ways to make that money go further. There are many smart strategies for small to midsize businesses that can stretch your marketing dollars a bit further.
Check out the big guys
Look to larger companies for ideas on how to improve and amp up your marketing tactics. Big businesses use many different types of campaigns and sometimes their big-budget approaches can be distilled down to lower-cost alternatives. Think of it as a “competitive intelligence” effort with the emphasis more on “intelligence” than “competitive.”
Maybe you can’t develop an app with a robust rewards system like coffee giant Starbucks. But you could still come up with a loyalty reward campaign using punch cards or some other mechanism.
If your company is one that depends on local customers or clients, make sure you’re doing everything possible to target that audience. Get hyperlocal! This approach tends to be particularly well-suited to businesses that rely on foot traffic, but it can work for any company capable of leveraging the distinctive aspects of its local community.
Don’t neglect the value of location-driven advertising, such as signage on vehicles that travel locally. Increase your presence on social media apps or pages focused on local communities. You may not want to blatantly advertise there, but you could participate in discussions, answer questions, and respond quickly to complaints or misinformation.
This is perhaps the most creative way to engage in low-cost marketing efforts. In short, guerilla marketing is putting your company’s brand in the public eye in an unconventional way. It doesn’t always work but, when it does, people will recognize and remember you for quite a while.
There are ways to execute digital guerilla marketing, such as creating a viral video or humorous social media account. Just be careful: such campaigns can often misfire and result in embarrassing public relations incidents. It's okay to be casual and fun, but keep it in line with your company's tone and brand values. Get plenty of outside advice, including legal counsel.
Try some variety
Many businesses get so focused on one marketing approach that they miss out on many other ways to attract the attention of new customers and maintain visibility among existing ones. Remember, variety is the spice of life, and it may not be as expensive as you think.
Questions about marketing? Leave a comment below, or feel free to contact me directly, I'm happy to help!