If you want to boost your business’s brand recognition and get more attention from potential clients or customers, you’ll need to put some effort into marketing.
You may think that marketing isn't possible without a hefty budget, but that can’t be farther from the truth. There are ways to market your business in a cost-effective and budget friendly way.
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Welcome to Money Tip Tuesday from the Making Money Personal podcast.
When it comes to marketing your business, it doesn't have to be expensive or complex to reach new potential customers. Marketing can make business owners feel intimidated and hesitant to take the next step. However, with certain sources, marketing your business couldn’t be much easier and once you have a plan, promoting your business will get better over time. Let’s look at 7 elements to help market your business on a budget.
- Consistent Branding
Having good, consistent branding will help your business become more recognizable to current and potential customers. If you're just starting your business, you may not have branding guidelines established yet. If you’ve been in business for some time, you probably already have your brand logo, colors, and fonts in your marketing materials. These marketing materials are your website, social media platforms, print and digital materials, promotional items, and business emails.
If you want to create your logo on your own, there are free websites and applications available to you. Canva and Envato are two platforms that allow you to customize or create free logos for your brand. These platforms also provide templates for your marketing materials including website, social media, and print/digital materials. If you’re new to creating branded content, this is a great way to dive into it while keeping your branding consistent.
If creating a logo and other branding material isn’t for you, you can also hire a graphic designer to create your logo and marketing materials for a low cost. Fiverr is a great resource to find graphic designers that will create a logo and other marketing materials for you. If you choose to use Fiverr or something similar, make sure you choose someone that has a design style you like and stay firm on the finalized designs to ensure they deliver what you’re looking for.
- Create a Website
When it comes to marketing your business, creating a website is a great place to start. Your website does not have to be too complex; it can simply provide basic information about your business, product or service, the team, and your contact information. As your business grows, you can advance your website by including a blog, Q&A, or even a shop page to sell your product.
When considering the domain, or URL, for your website, make sure it matches or is close to your business’s name. For example, for a business called Dover Cold Brew Company, the domain name should be www.dovercoldbrewcompany.com, www.dovercoldbrewco.com, or www.dovercoldbrew.co.
Take some time to think about what you want your website to look like and the story you want to tell. Websites don’t need to be completed. For a small business, 3-5 pages should be plenty. Make sure you focus on the products or service you’re selling and how potential customers can get in touch with you.
Once you have an idea about the content you want to put on your website and the domain name, you will need to decide which platform you will build your website with. Wix, Squarespace, and WordPress are three popular website-building sites. These sources are great for business owners that are
looking to promote their products and service without the hassle of coding the web pages themselves. There are plenty of templates that can be dragged-and-dropped from these sites, and all you will need to do is input your information. If you prefer, you can outsource this task as well by hiring a web designer to design your website.
*Important note: domain names do have a price tag depending on the website platform or web host you’re using. For some platforms, the domain name is free for the first year and then will charge a yearly fee afterwards.
- Social Media
Social media is a fantastic way to promote your business with little to no cost. Facebook, Instagram, YouTube, and LinkedIn are the most popular channels when you are first starting out. The social media content you post on these channels can cover various aspects of your business.
YouTube is a great platform for long-form, educational videos. Instagram is useful for photos or short-form videos that focus on the features of your product or service. Facebook is a platform for photos, videos, or longer posts that include links for consumers. For company related developments, new products/services and networking with similar businesses, use LinkedIn.
A good step is to develop a strategy plan for posts across all platforms to show off your business using photos and videos along with great captions below them. These social media posts can use templates and formats from Canva, a free source that is quickly accessible and easy to use for anyone creating content.
- Email Marketing
Email marketing is direct messaging to past customers or potential customers that have signed up to receive more information on your business, products, or services via email. You can utilize this form of marketing to promote new releases or send coupons/discount codes to entice your customers to make more purchases. These keep your customers updated and can attract them to come back and purchase more of your products or service. Email marketing can also be a great way to advertise events or sponsorships.
- Free Trials & Coupons
Depending on the product and service your business provides, customers are always going to be cautious about what they're buying and who they’re buying from. If you offer a free trial or a coupon to your business or service, it can comfort potential customers and gain trust in you and your business. For example, if you have a home improvement business, it would be beneficial to offer a free roofing consultation rather than the client being hesitant about buying a new roof. These offers allow customers to see what your business is all about and what your product or service can do for them.
- Events & Sponsorships
Participating in or sponsoring local community events can bring buzz for your business and can be a great way to network with potential partners while connecting with your community. Local events will also give you the opportunity to interact with current customers and make that brand trust stronger. Events give you the chance to provide giveaways such as promotional items or print materials that go
into further details on your products and services. Don’t forget to bring your business cards to pass out to potential customers or vendors.
- Print Materials & Promotional Items
Print materials and promotional items are great to attract customers and make your business stand out. This can be a brochure, a handout flyer, or even a small giveaway like a pen with your business’s name across it. These materials can be created by sources like Vistaprint, Canva, and Custom Ink.
All these elements are essential to marketing your business without breaking the bank. Affordable resources can help you improve your business, gain customer attraction, and gain trust in the community. Research will always be an important factor towards these marketing elements to find the right source for the right price.
If there are any other tips or topics, you’d like us to cover, let us know at tcupodcast@trianglecu.org. Like and follow our Making Money Personal FB and IG page and look for our sponsor, Triangle Credit Union on social media to share your thoughts.
Thanks for listening to today’s Money Tip Tuesday and be sure to check out our other tips and episodes on the Making Money Personal podcast.
Have a great day!
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