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5 Money Saving Life Hacks For New Business Owners: Marketing Hacks: Cost Effective Marketing Options

Marketing Hacks:

Cost Effective Marketing  Options

Social Media

Social Media  is a cost effective method of   spreading the word about your product and services.

Along with broadcasting a message to your group of personal contacts, additional tools exist to promote your brand. On Facebook, Some of these tools include, Facebook Ads, Targeted Groups that may be interested in your industry/service offering and more. Social Media Platforms such as Instagram and Twitter allow the use of hash tags to categorize a topic, which allow the content to be found by others looking for similar subjects and topics ( Facebook allows the use of hash tags as well).  Social Media serves as a cost effective method of getting the word out about your brand, product and services.

Network / Referral Marketing

Referrals are a strong method of marketing that is cost effective and generally free. This method of marketing is powerful because it is a word of mouth form of marketing. Unlike an ad in the newspaper or a commercial, it holds much more credibility because usually the person that is referring has utilized your products or services before. Not only has this person utilized your products and services, it is likely that they have had a great experience with your brand. This is marketing that you cannot buy. Network marketing leverages the relationship between you and your customer and your customer’s contacts. Your customer has already built a relationship with their own contacts, so there decision to do business with you is influenced by their positive relationship with your customer.

Trust is at the center of this form of marketing, and if a trusted source refers you and your services, this is a great way to attract new business at low to no costs on your end.

Networking Events

Networking Events provide a great platform to  meet new people and talk directly with others about your products and service offerings. As a business owner, you should clearly define who your target customer is ( more about this in future posts). After doing so, seek out targeted community events and industry specific networking events. This will provide a platform for you to connect with likeminded individuals, and potentially secure some new clientele.

 

 

 

Synergetic Collaborations

Cross promotion is a great way to leverage your network and the networks of others to create visibility for your service and product offerings. Seek out organizations and businesses that you can collaborate with to get more exposure for your brand and help another business expose their brand.  Major brands do this all the time. An example of this would be Breyer’s ice-cream’s collaboration with M&M’s. Both brands have been successful in their own right, but this collaboration created the opportunity for increased visibility for both brands.

The collaboration made M&M’s available in the ice-cream category (which is typically not available in). For Breyer’s, perhaps consumers who typically do not patronize the brand may do so because they are patrons of M&M’s and like the brand.

The right collaborations can create amazing new business  and visibility for your brand and the brands of those you choose to collaborate with.

 

Stay tuned for part 4 ” Travel Hacks: Getting  & Staying there the most economical way possible” coming next  Wednesday! Until then, Stay Smart Cookies!