For many small business owners, money is always top of mind among concerns for business growth. In a Q3 2023 survey by MetLife and the U.S. Chamber of Commerce, financial concerns landed in three spots among the top four biggest challenges small business owners face. Inflation costs, revenue, and rising interest rates are among small business owners’ most pressing issues.
Many small businesses have limited budget constraints, which makes many owners wonder how to market a new business without money. Some have been bootstrapped, while others face investment and loan limitations.
The good news is, there are many free and low-cost ways to market your small business. Consider the following out of the box ideas for marketing to create your own unique small business marketing strategy.
Most of the biggest social media sites for businesses are free to sign up for and use to reach new leads and current customers. These online marketing channels provide a wealth of opportunity to build awareness for your brand, make sales, and increase loyalty.
Social media channels can help your brand reach new audiences and build relationships with those who follow you. Some of the advantages social media marketing offers include:
The best part is all of these social media tactics are completely free. Social media sites can also be powerful paid advertising platforms, as they offer granular targeting features. But posting content, interacting with users, and optimizing your pages and content for search terms are all free.
There are a lot of social media platforms to choose from and only so many minutes in the day. Consider your resources and how to optimize your presence on social media.
Track your social media performance using each social site’s analytics. You can also pay attention to your website analytics to see which social sites are sending the most referrals to your website. That can help you discover various social sites to consider for your marketing strategy.
With so much information online to sift through, hearing from your own personal network of friends, family members, and contacts can go a long way in influencing decisions. According to a recent HubSpot report:
Each lead and customer you have could bring countless more to your company. Word of mouth marketing is another free way to spread awareness for your business.
Word of mouth marketing starts with an attractive business model, which your company can promote through various strategies. Some things to consider:
You can also promote review sites on your business website, social media channels, and in other marketing channels, including email newsletters. You’ll be more likely to get more positive reviews from happy customers, so consider ways to capture the attention of your most satisfied customers to motivate them to spread the word for your business.
Building a strong local presence can also help you grow your business. In your community, your customers can spread the word about your business. You can also partner with like-minded businesses to promote each other, and you can become a leader among locals by becoming an active presence in local events. These are all free or low-cost ways to optimize your marketing strategy.
Some tips for creating a community engagement marketing strategy include:
It is also important to pay attention to local events your followers share on social media. You can cross-promote community events on your own pages to help strengthen the reach of your brand.
Branding for small businesses encompasses the visual and tonal identifiers that represent your business identity, using strategies like a name, logo, vision/mission, and tone of voice. Strong branding can help people relate to your company, which can influence sales. According to a survey by Sprout Social, 76% of consumers would purchase from a brand they feel connected to rather than a competitor.
Consider the following cost-effective branding tips for small businesses to help you stand out.
As you grow your brand, your marketing materials can become more recognizable through a memorable logo, brand voice, and imagery. Branding introduces your company to leads and reinforces relationships with customers, so be thoughtful about how to translate your business’s defining characteristics into your branding.
With Clover, your business can integrate marketing campaigns, such as promotions and loyalty programs, right within your POS system. You can build customer loyalty with every transaction and store consumer data so you can improve how you reach your audience.
Why wait? Get started with a Clover POS System today to elevate your business.
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