Brand promotion is an effective way to communicate with your target audience and existing customers. Big companies boost their reach and ROI by spending millions on their branding, and as a small business owner or startup, you shouldn’t ignore it because of budget limitations. Luckily the new era of technology has dug up many modern yet inexpensive ways that small businesses can implement to run a high-end promotional campaign for their brands.
The listed promotional strategies don’t cost much! You can get the best out of them in terms of brand visibility, new customers, and increment in sales.
- Social Media Marketing
We cannot ignore this era’s most popular medium social media platforms when talking about inexpensive brand promotion methods. They are perfect for building a brand community for your business. Brand promotion activities on social media require lower investment but clever marketing tactics. You can run marketing campaigns and giveaways on social networks, provide coupon codes to your followers, and produce engaging content related to your products, brand, or current market trends.
The main goal of successful and productive social media marketing is to capture a more engaged and broader audience, which results in enhanced web traffic, conversions, and brand reach.
Smart Tip: Find your target audience and which social network they use most, begin targeting it, and then move to other social platforms one by one.
- Influencer Marketing
Small businesses usually use influencer marketing as a cherry on top of their existing strategy. It should be a part of the overall planning process instead of just t a top-up. Social media influencers cover all the bases to outreach your brand visibility at every customers’ touchpoint. According to a survey by Tribers, a social media marketing group by Jules Lund, an Aussie radio and TV host, 82% of customers acknowledge that they value the recommendation from influencers whom they follow. This is perhaps because the lifestyle of a micro-influencer is more accessible for people and their talks hit closer to home. The phenomenon makes an influencer more relatable than celebrities who are more expensive to use for marketing purposes. Influencer marketing is cost-effective as it generates assessable ROI in less budget.
Smart Tip: You can invest as little as you want in this strategy by opting for micro-influencers who charge less and have a higher engagement rate than big influencers.
- Email marketing
In the age of growing social media trends, Email marketing does not sound much tempting. However, surveys and reports provide statistics to prove otherwise.
Litmus, a marketing agency, estimates that email marketing makes an average return of $42 on every $1 that you spend. Another B2C survey revealed that 59% of survey participants’ purchase decisions are influenced by marketing emails. Another study in 2019 evaluated the conversion rate of email marketing. The investigation of 1 billion shopping sessions reflected that email marketing resulted in a 2.3% conversion rate compared to 1% of social media.
Smart Tip: To grow your email subscriber list, you can offer free resources to your site visitors like eBooks, Checklist, and Promo Codes.
- Promotional Products
Using promotional products to increase your brand visibility is an old-school trick, but it still works. By personalizing promotional items with your company logo or name, you can get your business name in front of more eyes without making many efforts. Giving these customized products to your existing customers and prospects will reflect your brand identity and make it easier for them to remember you and help you in spreading your message.
You can easily buy your promotional items from a trusted supplier who offers bulk products on various discount deals.
Smart Tip: It’s a cost-effective strategy if done right. Unlike your competitors’ flashy and expensive promotional products, opt for budget-friendly products like pens, keychains, t-shirts, tote bags, etc.
- Reward and Loyalty Programs
Customer rewards are deemed trivial by many marketing practitioners. Yet businesses are using this strategy for ages, and each day, more companies realize the positive effect of reward programs and incorporate the strategy in their overall marketing plan. Rewards and loyalty programs build customers’ loyalty. Earl Sasser, Jr, and Frederick F. Reichheld documented in Harvard Business review that the most profitable business customers are most profitable. The reward programs are economical in an indirect but very effective way. Offering rewards to existing customers increase their brand loyalty, and with every added year of relationship, it becomes less costly to serve these customers. The trust that you evoke in customers through reward and loyalty programs pays off as 9 out of 10 consumers do not buy a brand if they do not trust it. It can cost your business more as compared to what you invest in your loyalty and reward programs.
Smart tip: You can engage your loyal customers in business-building activities once their loyalty cycle is expired. This can be done by conducting a reward program on referrals of new customers.
The strategies mentioned above can be conveniently considered very affordable and equally effective in the current tech-savvy market. The above mix of IT-based and conventional strategy increases your brand’s visibility and is too in most budget-friendly for small businesses worldwide.
Rai Jibran is an eComm enthusiastic and works at ApparelnBags. Playing with the analytical data and digging into useful insights is his most favorite thing to do. Besides work, he is passionate about contributing to the communities and helping others. Follow him on LinkedIn.