A successful marketing strategy is essential to attract new clients, but how can this be achieved without a limitless budget? At the Federation of Small Businesses, we know that this can be challenging, so why not try five of our favourite marketing tips that won't break the bank?
Running a competition or special promotion can be a good way in which to attract the attention of new customers for very little outlay. Whether you decide to offer give-aways of a new product, discount your prices for a while or run a competition for a more substantial prize, this type of marketing is not only cost-effective, but can also achieve positive media coverage for your firm.
Many members of the Federation of Small Businesses have found that utilising social media can be an extremely effective marketing tactic. Not only are the costs very low, but you can use the various different platforms to target different types of customers. In addition, social media allows you to introduce your brand to a wide range of potential clients without geographical restrictions.
Establishing a strong brand identity is crucial in building and retaining customer loyalty. A distinctive logo, robust slogans or tag lines and solid marketing message will help raise awareness of this. All your printed promotional materials should fit with your corporate image, have a strong brand identity and be eye-catching enough to get you noticed. You might also opt for targeted promotional material in different formats to appeal to various client demographics.
Rewarding your existing customers for their loyalty is a good way in which to ensure that they continue to support your brand. Loyalty schemes are a simple method of achieving this for very little cost, but you could also consider offering rewards for new customer referrals. Word of mouth is a powerful marketing tool that costs nothing and can secure you new business opportunities.
Every business should have a website. If you haven't got one, you are missing out on vital sales opportunities. However, keeping your website regularly updated is essential. An out-of-date holding page or a blog that hasn't been updated in over a year will make your company look unprofessional. You website is your virtual shop front, so keep it alive by regularly adding fresh content and images. Make sure too that your news page always has the latest updates on your activities, and don't forget to link to your other social media platforms.
These five simple marketing strategies are achievable even on a small budget, but they are all extremely effective in attracting new business for your company.