The 5 most cost-effective marketing strategies

By Alex Koenig •

Having a strong product or service is the foundation of any successful business. If you’re not fully committed, these strategies won’t be your magic bullet. But if you’re ready to grow, these cost-effective marketing strategies can help you achieve budget-friendly sustainable growth.

  1. ????️ We all have that someone we rely on for recommendations or advice when shopping around, making Word of Mouth the cheapest, and often most effective, marketing strategy. Here are two tips for using word of mouth to help boost your business.
    • Referrals – depending on product or service, consider starting a referral program. For example: if you are a massage therapist, encourage your clients to refer a friend, and for any successful referral your client will get 5% off their next visit and their friend will get 5% off their first visit. The key is to make sure it’s easy to use and claim the reward. 
    • Testimonials – encourage happy customers to leave you a review and showcase the review on your website or social media. Not only does this build the trust factor, but it gives you content for your social channels, it’s a win-win.  
  2. ???? Hands up if you’re guilty of doom scrolling on social media ????. There’s a good chance your target audience is too, so it’s a missed opportunity if you’re not taking advantage of Social Media Marketing. Platforms like Instagram, TikTok, Facebook can help spread the word about your business.
    • Whether you’re doing paid ads or relying on organic, it’s important to be consistent with posting regularly (whether that’s once a week or once a day, stick to a routine) and to make sure you don’t post and ghost! Make sure you’re sharing engaging content, interacting with your audience, responding to comments, and thanking people for sharing.
  3. ???? Email marketing keeps your business top of mind. Whether your customers buy from you daily, monthly, or annually, you want them to be thinking of you when they’re ready to make a purchase. A well-crafted newsletter with highlights, deals, and other useful information will give you a reason to stay in people’s inboxes and stay top of mind. 
  4. ???? We’ve said it before, and we’ll say it again, the digital space is crowded! SEO is a great way to ensure you’re being found on search engines and a great way to drive new traffic. Strong headlines and keywords, and a good user experience is the first step in making sure your page ranks highly. 
  5. ???? Small businesses support small businesses. What better way to do that than Partnership Programs?
    • Partner with complementary businesses to co-promote. For example: if you run a small coffee shop and you have a florist nearby, consider starting a social media promotion where you encourage followers to share and comment on a post, and one lucky winner will receive a free coffee and a free (or discounted) bouquet. This will reach both of your audiences, promote both of your businesses, grow your social following, and likely drive new traffic. Another thing you could do is when someone buys their 9th coffee, the 10th one is free, but they also receive 10% off at the florist. Likewise at the florist when someone spends more than X, they get 50% off a coffee next door.  

While these are the most cost effective marketing strategies, we also know time is money and these things take time to get them right. If you need help with any or all of the above, we’re here for you! If it isn’t already obvious, we’re full of ideas. Book your free 30-minute discovery call and walk away with some new strategies to help you achieve sustainable growth for your small business.