Insanely Clever Marketing

Marketing on a Shoestring Budget

Posted by Penelope Herbert on October 12, 2015 · 5 Comments 

Marketing on a Shoestring Budget©

Lets face it, most small business owners would rather spend less on marketing  than more, So if you are marketing on a shoestring budget or are looking for ways to do more with less outlay, then these ideas are for you.

1. Keep the Customer Satisfied

Testimonials are the strongest form of marketing you can have. By keeping customers happy, you are creating a group of un-paid Ambassadors for your business. And because they are un-paid and because they are talking from their own experience, it makes their message that much stronger, and more compelling.

Actively ask happy customers for a testimonial; even write it for them yourself and have them endorse it. And unknown to you, your happy customers will almost certainly be telling people about you and recommending your business.

This is also why it’s important to ask new customers how they heard about you. Not only will you know which clients are recommending you, but it will help you to evaluate paid advertising. For example, if all your new business comes from referrals, then re-plan your paid advertising.

2. Work With Reputable Bloggers

In the digital age, blogging has taken the internet by storm. There are many successful and intelligent blogs written by specialists that can connect you with your target audience. I recommend checking out Catablog which is a catalogue of bloggers. Catablog connects bloggers & influencers with brands and PR companies.

I often work with with brands seeking editorial-style promotion on my blog, Don’t Call Me Penny. This magazine-style website features interesting brands and innovative products that my audience of fashionistas and home lovers enjoy.

Also, check out my warning on using bloggers before you use this marketing on a shoestring tip.

3. Network Like a Madman

Networking isn’t JUST about attending structured networking events. Choose your events wisely otherwise you’ll find yourself spending a mozza on tickets to everything.

Call contacts and invite them for a coffee. Ring potential clients just to see how their business is going. Don’t try to ‘sell’ them anything, just make contact; and be genuinely interested in what they are doing. You’ll be surprised at how much you learn, and these ‘touchpoints’ will contribute to developing your networks.

Refer business on if it’s not suitable for you. The buyer and the next business will appreciate, and remember, it.

4. Use the Media

Yes, even if you are not a PR professional you can pitch newsworthy information to the media. This does take some basic skills but it’s not impossible. And it can generate some excellent ‘third-party endorsements’ and will build the credibility of your business. And best of all, it’s FREE.

Also see ‘Being a Media Resource’ and ‘Secrets of the Inverted Pyramid’ on this site.

5. Segment your Market

Do you know the best way to eat an Elephant? One bite at a time.

Very few products and services are suitable for absolutely everyone. Even coca-cola doesn’t sell to infants. Milk isn’t suitable for people who are lactose-intolerant. You wouldn’t advertise meat in a vegetarian magazine. Right?

So people who say to me “Oh my market is so broad, I could sell to anyone” are missing the point. Because even if you DO have a broad target audience, different messages are going to resonate with different audiences.

For example, if you sell jewellery you could sell to teenagers, young professional women, mothers, men buying a gift, women with a high income, grandmothers – and each of these ‘segments’ will respond to a different message.

So think carefully about segmenting your market. You can segment using age, gender, income, geographic location, special interest (ie; families with dogs or people who play sport), marital status, etc. And consider if that segmentation needs segmenting (ie: families with dogs who have a high income or people who play sport who are aged 14 – 18).

Read more great tips by clicking ‘Shoestring Marketing‘ on the categories area of this site.

Do you have your own tips for marketing on a shoestring budget you’d like to share with other readers? Have you tried these tips? What was your experience?