The idea that money attracts money is a popular one in the business world. As accurate as this is for marketing, you do not always need a fat bank account to have the best marketing effect. It is possible to implement effective marketing strategies with a limited budget if you take advantage of certain factors. Are you a small business or a start-up company looking for ways to embark on effective marketing while saving money? Take a look at these strategies.

• Grow your online presence

The internet is now the go-to place for companies looking to reach out to prospects beyond their physical boundaries. With billions of active internet users, there is little wonder the online world keeps growing at a breakneck pace. This offers enormous potential to any business owner. As far as saving money is concerned, the internet is easily one of the friendliest places to be if you have a minimal marketing budget. 

All you need is to have a properly planned online marketing strategy, and your business is good to go. However, simply creating a blog or a website is not enough to help you build a strong and significant online presence. Factors like search engine optimization (SEO) tools, thorough online research, target-specific online marketing, etc., all play considerable roles in promoting your brand online. 

You can seek professional local SEO services to create different techniques and tactics directed at your target audience. You can also take advantage of several micro-influencers on social media to reach specific prospects at very affordable prices.

• Word of mouth

Although many businesses focus on above-the-line marketing campaigns, one of the cheapest and yet effective marketing methods is the good old word of mouth advertising. According to experts, word of mouth marketing results in five times more sales than paid advertising.

Potential customers are 90% more likely to trust a brand recommended by people they know than from other forms of advertising. That makes word of mouth advertising more than relevant in today’s technologically advanced world of marketing. However, for this form of marketing to be effective, you need to put in the work to ensure that you satisfy your current customer base.

A happy customer is more likely to spread the good news of their experience than an ‘OK’ client. This means the products or services you offer should exceed the expectations of your clients. By giving your customers the chance to leave reviews on your online platforms (which are visible for other visitors to see), you encourage your happy customers to share their experiences. You should also encourage your clients to leave recommendations after each service, which will help you provide better services or products.

• Create a blog

We have already mentioned the impact of the internet on modern marketing strategies for business. Another crucial low-budget marketing strategy is blogging. Most consumers love to read blogs about products and services or topics that they find interesting.

Creating blogs is one of the effective ways to demonstrate your knowledge and expertise in these subjects. Potential clients who read your blog posts not only receive insight into the issues they are interested in but also gain confidence and trust in your brand. It is essential to create engaging content rich in the information your audience needs to attract more readers and keep their attention.

This means you will have to research the various concerns, topics, and trends that dominate the market at certain times. Potential clients also want to know that you care about their wellbeing; therefore, ensure that your blog posts are not centered only on the products and services you are trying to market but also on the wellbeing of your readers. Furthermore, also ensure that you publish your blog posts as often as possible to keep your readers returning for more. 

• Social media

We cannot mention useful low-budget marketing tips without mentioning social media. Currently, close to 4 billion people actively use social media globally, and this means that there is a vast pool of potential clients to reach out to without committing a lot of money - if any at all. Popular platforms like Facebook, Instagram, Twitter, YouTube, and LinkedIn are ideal for effective marketing at low costs.

However, it is essential to have a well-planned strategy to promote your brand using these platforms. Depending on the kinds of products or services you offer, you might find one or more effective social media platforms than others. For example, suppose your business is into the sale of products.

In that case, advertising on Instagram may prove more beneficial than using Facebook, as it is easier for your followers to access and view videos of your products and services and even conduct sales. Additionally, it is essential to avoid managing too many social media pages simultaneously right from the start, especially if you are the only one in charge. Doing this may be very overwhelming.

• Remarketing

It is more expensive to market to a new customer than it takes to remarket to an existing client. An existing client is also more likely to spend more and to convert. So, if you have a low-budget, one of the compelling things you can do is remarketing to existing clients to bring them back, as it requires less investment and time to convince them. Ensure that you make improvements when remarketing and include offers that are enticing enough to bring them back.

• Video marketing and live streaming

Video marketing is proving to be very useful when done the right way. Experts say that video marketing can grow revenue by close to 50% faster than non-video marketing content. You can support all your marketing efforts with video content on different forms of online platforms.

Although many business owners think they need to produce videos of the highest qualities in video editing to have the right effect, that is not accurate. All you need is to have a smartphone with a good video camera, and you are good to go.