How to Promote your products in the most cost-effective way

Choosing how to promote your business can be a challenge. Especially if your business is new, you may not be sure how to market your business. In an increasingly competitive market, it can be difficult to market a business effectively with the methods you've always used. You may be missing younger, new customers with your outreach efforts if the way customers shop for what you sell has changed, their needs have changed, or you are not reaching out to them in the right way.

Whatever the way your business moves, successful advertising and marketing will help you find new customers without going broke. We will examine various strategies for promoting your products without necessarily spending a fortune.

Online marketing

Mailing Lists

Email marketing remains one of the least expensive and most effective methods of digital marketing? It is estimated that email marketing has a ROI of four times that of other digital marketing methods, and almost 90% of marketers see email as a useful lead generation tool.

What makes email marketing so successful? The cost of starting and running a campaign is basically zero. Another advantage of email marketing tools currently available is the number of integrated features that will make it easier for you to keep track of your campaigns. For example, you can find plenty of tools that offer workflow organization, segmentation, and social scheduling.

Having already built a mailing list is half the battle won. A conversion-oriented email campaign does, however, require some additional effort. You can use email marketing to get new visitors engaged with your business as well as maintain relationships with your existing customers. Despite its age, email marketing remains one of-if not-the-most reliable ways to achieve a strong return on investment. 

Mouth-To-Mouth

Spreading the word about your business venture among family, friends, neighbours, colleagues and your pets is one of the quickest and most impactful ways of building a presence for your firm.  For the most part, people ask for recommendations when it comes to products or services, and as such, recommendation marketing can be very powerful.  It is important to use every networking opportunity to maximize your exposure, whenever it is appropriate.

A Google Places search

Adding your business to Google Places is simple, free, and provides an excellent way to direct customers to your product, even if you do not have a website. It is also essential if you expect customers to use the internet to find you.  In addition to product and location details, they also allow you to post special events, photos, and videos. Also, customers can leave reviews, which may help your business rank in Google search results.  

Create A Business Website

Having a website is pretty much essential for almost any business these days.  Although it doesn’t have to be fancy or expensive, it should provide details about your business and specific services and have an about page as potential customers are interested in the faces behind the business.  Many free and low-cost website building resources are available, making it quite easy to create a website without spending money on design.  Getting a domain name and choosing a hosting company is the first step in setting up a website.

Google Ads

For small business owners, Google ads are an excellent way to attract targeted traffic.  It is charged on a per click or per impression basis, with no minimum spend required except for the setup fee.  You can set a daily budget per day or per campaign so that you can cap your spending.  The importance of researching your keywords cannot be overstated. Keywords related to general topics are typically more expensive.  With more specific search terms, your ad will be more cost-effective with less competition.  

Calls To Action

The key [to growing your business] is to understand how your target market searches for your service, then to maximize efforts in those marketing channels, with relevant and compelling call-to-actions. Sadly, many web pages fail to include a call to action. You should indicate the next step for interested users on every page of your site, in every blog you write, and in every email you send.

For those who wish to learn more, there should always be an option to contact your company or download a white paper, or subscribe to your newsletter - however, you should always provide someone with the opportunity to do so.

Conclusion

When marketing your brand, you need to strike a balance between cost and results. Especially for a brand that is trying to grow, finding the most effective strategies for the least amount of money is crucial. Provided above are some of the best and most cost-effective marketing strategies you might want to explore for your business.

Reference

The Balance Small Business (2019) Affordable Ways To Market Your Small Business. Retrieved from

https://www.thebalancesmb.com/budget-friendly-business-promotion-2948441

Digital Marketing Institute (2018) Cost Effective Ways To Promote Your Product. Retrieved from

https://digitalmarketinginstitute.com/blog/3-cost-effective-ways-to-promote-your-product

Montréal Financial (2019) Cost Effective Ways To Promote Your Small Business. Retrieved from https://www.montrealfinancial.ca/blog/24-cost-effective-ways-to-promote-your-small-business.html

Forbes (2015) Cost Effective Marketing Strategies For Growing A New Brand. Retrieved from

https://www.forbes.com/sites/steveolenski/2015/11/23/7-cost-effective-marketing-strategies-for-growing-a-new-brand/?sh=78c2d2b79551