Did you know? Marketing techniques of some of the top giants involve $0! Tesla Inc, owned by CEO Elon Musk, is one perfect example. Does that mean they do not have any marketing strategies in place? No. They are far too smart with the way they market. The secret sauce to Tesla’s massive success is “word of mouth marketing” and “referrals.” But can these strategies fit every sector? Maybe not. There are other ways by which you can reduce your marketing spends and have a bigger impact and better market for your product or services. Let’s get started.
7 Best Marketing Techniques That Won’t Cost a Fortune
Here are some tried and tested marketing techniques that ensure high ROI and low spends.
1 Repurpose your content on different platforms
Cross-platform promotion is as important as creating fresh content regularly. Repurposing content has a far reaching effect and costs almost nothing! It is one of the most effective marketing techniques that businesses rely on to improve thier digital footprint and increas customer base. For example, if you you upload a weel-researched new blog on your website, you can do some free promotion via emails, social media, newsletters, etc. Let your customers and followers know about this new piece of content. You can use bits and pieces of the blog content and convert it into short, power-packed bytes of information and use them across other platforms. If sales is your goal, you can divert your customers from the blog to your product page and encourage them to purchase.
2 Create a strong customer referral program
Customer referral programs are one of the most explosive marketing techniques that produce a massive impact, organically and automatically. If you come up with the right concept, your strategy is here to stay for long. The best example can be the referral codes created by Uber, Airbnb etc., where customers enthusiatically referred their friends and family. This technique was enough for them to create a strong brand regognition and build a huge customer base.
3 Leverage user-generated content
User-generated content is highly effective for any brand. It is more authentic and real as it is created by your customers and followers. Several businesses engage customers to create short videos or content related to what they love about the brand. Such videos and posts go viral on social media and other platforms and become a medium of free brand marketing. So, if you don’t want to blow up your marketing budget, just leverage user-generated content.
4 Don’t forget your existing customers
In the hunt to find new customers, don’t forget your existing loyal ones. One of the best marketing techniques is to upsell to your existing customers. Create exciting offers exclusively and encourage them to make a purchase. Since these customers already trust and love your brand, marketing your products to them is easy. You wouldn’t need to shell too much to influence them to purchase.
5 Identify and hire niche influencers
Influencers are your gateway to reach those prospects and customers whom you might not attract organically. Why? Because niche influencers have a huge followers who can be your prospective customers. By hiring the right influencers, you can amplify your marketing efforts multifolds. The price you’d pay to influencers in return for the explosive reach will be well under your marketing budget.
6 Stay active on social media platforms
If you want your brand to remain etched in your customers’ minds, stay active on social media. And keep creating constant content on all these platforms. Try moment marketing, interact frequently with your followers, and clarify all customer queries soon. This way, your followers will connect, understand, explore your products and services often. And if they like what you’re offering, they won’t hesitate to make a purchase as well!
7 Build a diverse emailing list
Don’t take your email marketing lightly! It is one of the best B2B marketing techniques and foolproof ways to build your customer base. Collect customer email ids via surveys, website pop-ups, etc., and add them to your mailing list. Once done, update them about your offers, products, services frequently via creative emails. After all, only when your prospective customers become aware of your offerings will they move to the next stage in the funnel. But, don’t spam their mailboxes with excess emails. Divide them into different mailing lists based on which stage they are in your sales funnel. Once you build the list, target them with the right content.
Marketing does have to involve shelling thousands of dollars or exceeding your budget. You can implement simple strategies to win big as well. Or, you can rely on these tried and tested techniques we have discussed above.
So, which of these marketing techniques are you planning to implement for your upcoming campaigns? Let us know in the comments below.
Also Read: 7 Video Marketing Trends That Are Reigning in 2021