7 Cost Effective Marketing Strategies For Growing A New Brand
Steve Olenski CONTRIBUTOR
In marketing your brand, it’s important to find a balance between the cost and the results. Particularly for a new brand that’s trying to grow, the goal is to maximize your ROI, by finding the most effective strategies for the least amount of money. Here are some of the best and most cost-effective marketing strategies to explore.
One of the simplest and most effective ways of driving traffic to your site is to have a blog. Google’s search algorithms favor websites that are updated frequently and provide high quality, relevant content to their users. A regularly updated blog serves both of these purposes.
According to one source, sites that post 16 blogs per month (roughly 4 blogs per week) generate 3.5 times more web traffic than sites that blog four times or fewer. The more high quality blogs you post, the more opportunities your audience will have to visit and interact with your site, and the better exposure you’ll get for your brand.
2. Mailing lists
“No matter what kind of customers you encounter,” says John Matson of TopCreditCardProcessors.com, “Get them on your mailing list, to build up your contacts.” E-mail lists have developed a bad reputation in recent years. But used correctly, they can be a very useful tool. If you’re spamming random strangers to tell them to buy your products, your brand will become annoying and unpopular.
So instead, you need to build a list of people who are genuinely interested in what you have to offer and provide them with regular updates about what’s going on in your company and why it’s of interest to them. You’ll see much better results and generate real, qualified leads that can be nurtured into sales.
3. Online companies
One of the best and most cost-effective ways to reach new customers is by using online sites to market your company. Depending on your business, there are a number of sites that can help you reach new customers through search results and networking. A Yelp profile can increase your visibility to a potential customer. It also gives you an opportunity to encourage loyal customers to leave you positive reviews, thus boosting your reputation. TripAdvisor provides the same opportunities for hotels, restaurants, and other tourist-centered businesses. And Mogul provides a platform for female business owners to show potential audiences what their companies are all about.
Social media can be a helpful tool in this regard as well. Ty Crandall, CEO of CreditSuite says, “Some of the most effective and cost-effective marketing strategies for growing a new business now come from social media. Platforms such as Facebook now make it easy to test headlines, images, concepts, ads and more for investments of less than $5 per day. Once you know what works, then it’s easy to apply that to other platforms that might cost more. This type of strategy can save you a ton of money and help you figure out what works quickly, even if you are only working with a shoe-string budget.”
4. Calls to action
“The key [to growing your business] is understanding how your target market is looking for your service, then maximizing efforts in those marketing channels with relevant and strong calls to action,” explains Spencer Kirk, CEO of Extra Space Storage. Believe it or not, many sites don’t include a call to action in their content. Every on your site, every blog you post, and every e-mail you send, should suggest the next step for interested users.
It may be, “Contact us for more information,” or “Download our white paper,” or “Subscribe to our newsletter,” but there should always be an opportunity for those who want to know more to further their relationship with your company.
5. Press releases
Distributing press releases is a great way to keep people in your industry apprised of important updates from your company. You can create press releases to announce new products, award or accolades you’ve recently received, changes to your company structure, and more. It may take time to build up the right press contacts to gain your announcements real exposure, but the longer you persevere and the more effort you put into it, the better results you’ll see.
6. Coupons and discounts
One thing is guaranteed to get your audience’s attention: telling them how they can save money. Offer discounts and coupon codes on your products or services. Make them seem exclusive, like the customers who are getting them are part of an elite few. By offering a few dollars off of your regular price, you can bring in customers who will stay loyal to your company for years to come.
7. Using videos
Videos are one of the most effective tools to use in your marketing campaign. You can either create them in-house or outsource them to another company that specializes in creating high-quality video content. Whichever option you choose, videos are a great way to engage your audience visually and increase your brand’s visibility.
These are just a few of the strategies you can use to grow your business cheaply and effectively. Do some experimentation, and see what strategies work best for your company, and have the biggest impact on your customer base.