If you are like me, you have a very limited budget, even more limited for marketing and advertising. I have learned the hard way that marketing is as important to your business as any other aspect and in some cases even more important than the other aspects. A good product can fail miserably due to inadequate marketing and sometimes word of mouth doesn't move you along as quickly as you would like. Online marketing is a good option for reaching a large audience on a small budget. Not withstanding that it is still important to promote your business through local and traditional channels. Here are some effective online marketing options which won't break the bank:
- Google Adwords is a flexible allows you to place ads on the internet at a price you can afford. Your ads are performance based i.e. you only pay when some one interacts with your ads, which can result in a higher ROI compared to traditional marketing.
- Facebook allows you to set up a social media page for your business free of cost. You may also use their flexible, performance based, advertising options to promote your business on their network. Much like Google Adwords, Facebook allows your to set your own budget.
- Local Media Advertising. If your business is tied to a specific location, it would benefit you to keep your ads local and use local channels. Unfortunately, Traditional media can be very expensive and success is difficult to track. You can save by advertising in local papers and magazine through their online channels. Many newspapers, use Google Adsense to generate income on their websites. Google Adsense is fed with ads from Google Adwords. You can use your Adwords account to place ads on local websites and benefit from the same and even better exposure compared to print media at a fraction of the cost.
- LinkedIn can be a great place to promote certain products and services much like Facebook. You can do this free of cost by having LinkedIn pages for you, your company and your employees and then promote your products to your "connections" who may then share your content with others. You may also join up to 40 LinkedIn Groups free of cost and promote your products to thousands of people who may not be among your existing contacts. With this strategy, you must be careful not to spam as this will end up being counterproductive. Promote your company in a way that offers valuable information that people will be willing to share.
- Social Media marketing is an easy cost effective way of promoting your business online. Sites such as StumbleUpon, Digg and Reddit are popular sites for sharing content and new discoveries. Register with these sites and ensure that your website has social media sharing tools to allow your customers to share your content and promote your products on your behalf.
- Public Relations is a great option for getting your message out there free of cost. This will require you to forge valuable relationships in the media to try and get them to do a report about your business or products at no cost. Public Relations is challenging as the media tend to be only interested in things that controversial, cutting edge or will otherwise spark viewer interest. You need to be aware of the market and constantly work on positioning yourself to take advantage of any opportunities which may arise.
- Trade Shows are always a good way to get exposure for your business whether you attend as an official participant or as a part of the general public, it is important to attend as many as you can and promote your products to other attendees
- Networking meetings are also another great way to meet new customers.
- Clubs and Associations are a great way to showcase your products in an intimate setting.
