Every business with a keen eye on making a lasting impression in the market should be serious about its marketing initiatives and strategies. Approximately, companies spend about 8% of their gross revenue on marketing investments. Few businesses ever think of utilizing go-to and cost-effective marketing strategies. Here are some useful marketing ideas that your business can use without spending a fortune.
Focusing on philanthropy
Charity programs allow your business to achieve publicity without necessarily spending any substantial money on marketing. Well-coordinated charity programs can enable a business to expose itself in the market while building credibility and increase brand awareness. A company that invests in philanthropy has a relatively easy time moving its products within the same market.
For businesses investing in community engagement programs, like educating the community on homelessness, they get a chance to enjoy brand exposure. Connections that your business creates with the local population during engagement programs can grow as the community increasingly prefers using your company’s products and services.
Running corporate announcements
Corporate announcements are also an excellent opportunity for your businesses to enjoy free publicity. For example, if you have some newsworthy information, share it with local media! You’ll then get your business a chance to enjoy free media coverage.
Using social media
Social media is a free-to-use platform. Businesses with a social media presence get an opportunity to post any information, including advertisements that come at a very cheap and affordable cost. Besides, you can use social media platforms to engage customers actively by answering common inquiries or even running social media campaigns for increased publicity.
Sometimes, businesses can hire brand ambassadors. Brand ambassadors serve as company representatives and help spread the word about your business. Successful and influential brand ambassadors, once strategically employed, can target specific markets, such as university student population, particular estates, or even individuals of a particular profession. They are relatively cheap to hire, but they produce exceptional results when it comes to lead acquisition, and lead conversion is concerned.