As a young business start-up, you often have the problem that money looks tight. But in order to establish yourself on the market and address potential customers, you have to make yourself visible as a founder. This is usually done through marketing. But which cost-saving forms of marketing are there? This article is intended to give an overview of how much can be achieved with a small marketing budget.
What is marketing and what can it cost?
Marketing is the basic extension of the term “advertising”. Marketing includes a targeted planning of campaigns, i.e. a strategy with which the customer should ultimately be convinced of the product. In addition to the placement of advertising, it is also part of marketing that the market is constantly analyzed and, if necessary, adjustments to your own offer can be made.
The costs of marketing measures can range from a very small amount to many thousands of euros per month. Basically, you should be aware that some instruments such as search engine optimization and maintenance of the website cause regular costs and that special campaigns can be part of a marketing strategy, such as placing spots on podcasts or on the radio.
Types of low budget marketing
In order to get an overview of the possibilities of controlling marketing with a small budget, the most favorable instruments have been summarized:
Digital and content marketing
- SEO is key: You should master at least the basics of search engine optimization and design your own website in such a way that you can be found easily on the web without having to run expensive advertising campaigns over the long term. Keywords are particularly important here.
- Newsletter marketing: Newsletters are a suitable tool for constantly reminding customers of themselves and drawing attention to new products or campaigns. There are now quite cheap or even free providers to automate a newsletter. Thus, effectively only the content of the newsletter has to be created and there are only little or no costs.
- Blog: In many industries it is worth starting your own blog in which topics related to a product or service are described. On the one hand, this underlines the expert status (e.g. on the subject of travel, nutrition, sport, etc.) and increases the visibility of a website in the Google ranking through regular posts. Attempts should be made here to understand the customer’s areas of interest and to address current issues.
- Guest blogging: As an expert in a field, it is also a good idea to write posts as a guest blogger on larger blogger sites. This means that a larger group of customers is addressed and the status as an expert is created or consolidated.
- Podcasts: Radio shows are gaining the popularity once enjoyed by talk shows. Basically, as a business founder, you can and should try to appear at least once in a topic-related podcast. This creates a certain credibility and allows new customers to find you. In addition, it can be very useful to even set up your own podcast in which you regularly talk about changing topics or with changing interviewees. If you have the time and inclination, get started.
- Webinars: Webinars sell particularly well on business platforms. Here again you have two options: Conducting a webinar is either free of charge and at best attracts many interested parties or the webinar itself can already generate a certain turnover.
- Social media marketing: High-quality posts: High-quality image material should always be used, which makes a professional impression and fits the corporate identity. No matter how great the content is, it suffers a setback if the associated image material is of poor quality.
- Actively using platforms: This is about actively getting involved as a company in social media events. Not only sharing your own content, but also commenting on other people’s posts increases visibility in social networks and leads to increased interaction with the target group.
- Creating content with added value: When content is shared, new information should be prepared as interestingly as possible for the readers. Infographics can also help followers to quickly develop complex topics.
- Sweepstakes: Homo Ludens – the gambling human. Since the beginning of history, man has loved to play. This can be used sensibly by organizing sweepstakes. If you offer your customers the opportunity to win something or receive a big discount, this can significantly increase your own visibility.
General low-cost marketing
- Public relations and press releases: Nothing is better advertising than good press, which in the best case is even free and ensures that a service or product gains public interest. Are there currently certain problems that concern the world and can problems be solved with a product? Here it is worthwhile to have already worked out a strategy about which topic should be reported on in an article before contacting the respective editorial team.
- Reward systems: Reward systems can be created for customers, such as targeted discount benefits, e.g. B. recommends the purchase in an online shop or a service in the circle of friends and this results in concrete orders or bookings.
- Cooperation for reach: Cooperation with other providers from the industry or a region can also lead to better sales opportunities if there are relevant intersections between the companies and better products or services can be offered together without having to increase the marketing budget of the two companies.
- Customer references: Nowadays hardly any product or service can do without honest and good customer reviews. Customers can therefore be actively asked to rate products and services, even if it may seem difficult and inappropriate at first.
Professional advice for start-ups is worthwhile
When in doubt, it is always advisable to get specialist advice on board so that costs are not spent unnecessarily on marketing efforts that are not effective. The best contacts are state-funded management consultants who deal with the core target group and also provide conceptual support at the strategic level in the development of a marketing strategy. In addition, the selection of suitable marketing activities can be coordinated with a business start-up consultation. Such advice can be provided by the state up to 70% of the costs funded will. You can find out which funding programs are particularly suitable for you with our free funding check.