Many entrepreneurs find marketing an irony tool in steering business growth. While expanding prospects, business marketing can also consume a hefty portion of your operational budget. Cost reduction becomes a crucial concern. So how can we reduce marketing bills yet getting an equal chance for business success? We seek relatively low-cost ways to market our business.
Now, you might be ambiguous and wondering ‘is there any low-cost marketing strategy?’ The answer is affirmative! Here are 5 rules to guide you through the process of generating marketing ideas.
Follow the Trend
Firstly, sharpen up your market sense as market trend is where business opportunities amassed. In order to know the market trend well, try to open up your mind. Following up next would be delving into a pool of information from reading materials, understanding analytical Big Data, and tracking down the trending market preferences.
Indeed, being observant with market updates will always be paid off with a great finding of marketing ideas that draw the market’s attention. Respond promptly over such market interest. Consequently, you will know exactly how to promote your business and engage your potential market by capitalising these hot topics in the market.
Secondly, build your connection. Only when you are connected to your target market, you are given the opportunity to promote your business. But how can we build such linkage? There are several affordable ways to advertise your brand presence.
Certainly, attend local networking events or co-sponsor such event can escalate your marketing efforts and elevate advertising effectiveness at relatively lower cost. Nevertheless, remember to bring along your business cards for prompt introduction whenever opportunity for business advertising arises.
Adapt the Culture
Now you have the channel to understand market trend and develop business advertising. Thirdly, it is time for you to get close to your target market and approach them in a friendly way. You need to speak their language.
Apparently, you have to adapt to the culture of your target market. Therefore, becoming a valued member of a community is very crucial. You may join a merchant chamber, or create an affiliate programme, or even host such objective-driven group to gather your business prospects.
Shoulders of Giants
There is a saying attributed to Bernard of Chartres with expression in English by Isaac Newton, ‘standing on the shoulders of giants’. This metaphor suggests you to discover a wider vision by building on the foundation laid by predecessors.
Fourthly, by joining a professional chamber or creating a focused group, you are given the chances to meet various people including major industry players. However, fret not over the potential competition, these social linkages will also open up opportunities for your business to joint force and grow by leaps and bounds.
Utilise Social Network
How can we make sure marketing messages are delivered effectively and effortlessly? Fifthly, grab your opportunity to utilise social networks in this blooming Cyber Age of ICT. When we have entered a new age in which videography has become so much affordable, make full use of it across social networks.
Most of the time, webinar or video conference attracts stern industry players above the line. Otherwise, use short films or narrative commercials to lure the mass public. Yes, these business marketing or business advertising efforts incur production cost, but the after-effect is so much significant when marketing messages go viral online at almost zero cost.
At last, you need just one thing – the courage to bring the breakthrough into action. Focus on these low-cost solutions, and your business is ready to raise and thrive.