Menu
2 Comments

Six ways to Market your Business on a low budget

As an MSME When we don’t have investment or when budgets are tight marketing is the first expense you look to cut. Many of the MSMEs don’t even think about Marketing as an important aspect to grow their business.

Many assume advertising as marketing. Unfortunately, it’s not!

Businesses have never had greater access to cost-effective, trackable marketing tools, but with so many digital tools available, how do you know where to start?

Here are Six marketing strategies that can help you on a low budget.

(1. Business Networking  2. Ten Second Business Pitch 3. Invest in your Network  4. Win-Win  5. Referrals  6. Build Business Relationships)

Business Networking

I’m a huge fan of networking. I don’t think there is any better way to build a business than to get out there, shake some hands, and get to know new business decision makers. Networking requires a time commitment and it doesn’t provide instant gratification, but a strong network like Entrebator(Ebator) is one of the greatest assets for any business person.

Ten Second Business Pitch

Research shows the average attention span of an adult is about six to eight seconds. That’s all the time you have to grab someone’s attention. You should be marketing all the time — wherever you are. Therefore, you need a compelling 10-second business pitch. Invest the time to craft a killer business pitch. The return on your investment will pay huge dividends in terms of creating business opportunities.

Invest In your Network 

You don’t have to think big when it comes to your marketing efforts. Think network! What’s going on in your network? Invest a Little in your network like a charity walk/run through your network. Get to know your ideal customer and think about how and where they spend their time. Look for opportunities to get in front of your customer with your marketing message.

Win-Win

Put together a group of synergistic, non-competitive businesses in your area and agree to cross-promote. You can use coupons, fliers, reciprocal website links, bundled promotions or social media platforms. By collaborating with each other, you can expand your customer base because you’ll be reaching new people.

Referrals

Don’t be shy about asking for customer referrals. Most people say they are willing to provide a referral if asked, but very few take the initiative to do it on their own. Referrals make it easier to get in the door with new customers. If you aren’t asking for them, you are missing opportunities.

Build Business Relationships

It’s a lot less expensive to gain a customer if you can build a Business Relationship. That’s why establishing strong relationships with your customer base is crucial. One of the ways you can do that is by participating in the Entrebator(Ebator) APP. Consistently post updates, post requirements, suggestions, share contacts, and regular follow-ups will do the magic.

These inexpensive marketing strategies will help you engage customers, build relationships, and ultimately keep your brand top-of-mind. It’s not always about the money you must spend on marketing, it’s about the time and effort you put into it and above all, the relevance it has for your network.

2 thoughts on “Six ways to Market your Business on a low budget”

  1. Very informative article. I think referrals, networking and cross-promotions are really good and cost-effective ways of marketing.

  2. Monica says:

    Its very helpful for our Promoting a Brand. & Its a cost effective also…….Good

Leave a Reply

Your email address will not be published. Required fields are marked *