Skip to main content

How to make great marketing moves with little money?



One of the most precarious and overwhelming challenges faced by startups and small businesses is to remain cash positive. After all, you have set up the business with an aim to grow as quickly as possible. But the difficult balancing act between growth needs vs various recurring costs like salaries, infrastructure cost,  operational costs etc builds itself up into a vicious cycle with paucity of cash staring at you on every turn.

  •         Breaking the vicious cycle

Most businesses try to break this cycle by cutting down on expenditure on activities and areas that seems wasteful like marketing and advertising. But this course of action leads to even more pain for the companies as cutting down on marketing spend results in business growth getting stifled leading to less revenue and consequently more budget cuts.
This scenario need not be repeated in your business as you can break this vicious cycle by doing a bit of judicious marketing. After all, it is not necessary that marketing should always cost a bomb to be effective.  Use the strategies given here to ensure that your message reaches your target audience at a low cost.

  •      Create  a referral program

Create a system whereby your customers are encouraged to refer their friends and relatives to your products and or services.  This can work wonders if you can give even a small discount or money to both the source and the beneficiary of the referral.  And it is no pipe dream. Airbnb and Uber both grew a lot, thanks in no small measure to their referral programs with small incentives. Your customers can become your best marketers. According to a Nielsen Global Trust report, 83% of online respondents in 60 countries say they trust the recommendations of friends and family.  Use this bit of human psychology to aid the growth of your business.

  •      Use digital media effectively   
An increase in your activities on the digital media will lead to exponential positive results. Promptly reply to customer queries on Q&A site. Contact bloggers and influencers who are willing to share your content so that its reach widens.  If needed go in for reciprocity with other bloggers. Creating and offering free webinar on subjects that add value to the customer experience can go a long way in establishing your credentials.

  •       Personal branding

Use the power of social media to promote yourself.  One of the most effective ways to build up your personal brand is to write a dedicated blog and even guest post articles. Create high value content like ebooks, case studies and short courses. This not only effectively communicates your expertise to a larger audience but also creates a source of traffic and earns you new followers.  Being active on 2-3 top social media channels to distribute content could lead to new leads without you having to spend anything on such lead generation.


If you want to scale up without spending tons of money or want to know more about such useful and practical marketing strategies and how to implement them get in touch with Vineet Arya at vineet@outsourcedcmo.in or give a ring on 9880216421.  We will work as a part of your startup and or SME whether you have got a sales team or not with the sole objective of fulfilling the pre-agreed marketing role. Engaging with us will not only give you access to tech-savvy and top-notch marketing talent that is ready and raring to kick-start your journey on the path of greater success but will also ensure that you surmount the marketing challenges with ease and flexibility saving both time and money for you

Comments

Popular posts from this blog

4 long years of Painful yet Successful journey of "Outsourced CMO"

It has been 4 long years since I made the life-changing yet the most difficult decision of my life, the decision of leaving a completely stable, well-paying job & the last one from the major business conglomerate of India ,to work on a completely unique, least known concept. The decision of leaving the well-paying job proved to be even more difficult, especially if you are the only earning member in the family, with retired parents and several mouths to feed, taking care of various loans stacking up, which is the true scenario in my case. Amidst all these, doubt and anxiety were at its peak as entrepreneurship appeared as an alien term after giving more than two decades to the corporate world. Self confidence and faith on the concept of "Outsourced CMO" was the only driving force to keep me motivated through the journey as I was confident that the concept of “Outsourced CMO" is the much-needed concept in the world of SME/ Startups, as it's an expensive business fo…

The world is heading towards shared economy , are you ready for it ?

What is the common thread that runs between Airbnb, Uber and Ola?  Well! All of them are shining examples of a shared economy which is based on access not on ownership. 
Shared economy is an idea whose time has come, driven by the internet revolution, the paucity of a resource vis a vis demand, high cost of a resource and digital economy which enables sharing of a highly coveted resource at an affordable cost that makes such sharing beneficial for all related parties.

It is not that shared economy deals with only the physical resources but it has been playing an important part in sharing of human resources too in the business domain. Looking at various C-suite expertise around the world we find that companies have been successfully sharing expert human resources for a long time. Outsourced Chief Training  Officers (CTOs)  have been in vogue for decades now. Businesses are also comfortable with the idea of working with outsourced Chief Financial Officers (CFOs).  So why this model can’t…