5 budget marketing ideas you should explore in 2021

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As a solopreneur, how you run your business will definitely be different from what is obtainable in other businesses. This is so because you are saddled with duties of homemaking and that of a business woman.

The resulting effects of the aforementioned on your business marketing may be that:

  • You probably run a small business from home with tight budget and busy daily schedule
  • Unless you have a marketing department, you are going to do marketing by yourself
  • Due to your busy schedule, being consistent with marketing might be difficult

This post will look at five budget marketing ideas you can explore if you are looking at saving money and time while creating or maintaining awareness for your business. Let’s go.

1. Emphasize on the value of your products or services

Competition is at an all time high and coupled with the present economic situation, buyers are very skeptical about what they spend their money on. They want to make sure that whatever they are buying is what they really need and of high value. So, take advantage of this trend and focus on telling your audience about the actual value they would benefit from your product.

How will you know where they really need the value?

You have to take the advantage of your intuition as a woman and apply it to marketing in this instance. Below are some tips that can help you identify value gap and how to fill it.

  • By communicating with your existing customers

Suggest modifications of existing product and ask if they would patronize you for it. E.g. as an event hall decorator, you may offer to do event venue search along with your services. Your clients would love this because not only does it remove the stress of having to search for venue, it would also leave them with good hours to do other things.

By offering event venue search as part of your event venue decoration service, your client would definitely think of you over your competitors if they need your services because of the added value you offer.

  • Getting feedback or review of your product

You have to be open to receiving feedback whether it is negative or positive. This will help you make necessary adjustment on your product or service. If you keep improving based on customers’ feedback, you would surely remain the preferred business that buyers continue to patronize.

  • By studying your competitors’ offers

If you can identify a competitor whose product is more accepted in the marketplace, this is very good for you. Remember I mentioned earlier that people now spend their money on commodities that offer significant values. What this means is that your thriving competitor is offering real values. So be a detective and do your findings about what makes them tick, then make necessary adjustments.

2. Use social media

Social media has evolved from a platform for keeping in touch with friends and family to a customer service platform. You can use it for the following:

  • Customer engagement
  • New product announcement
  • Occasional behind the scene narrations
  • Lead generation, etc.

To effectively use social media, bear in mind to do minimal selling. Your audience will engage with you if you share helpful and valuable content. Nobody wants to be sold to, but everybody wants to be informed. So keep your audience informed on social media, and explore means to attract them to your website and eventually your mailing list for conversion.

3. Solve specific problems

Really, selling today is no longer about your products. It is now more of what problems can people solve with your products or services. Why should someone patronize you if they can get the same item you sell elsewhere at a cheaper rate and even more conveniently?

There are several ways you can market your business by solving problems. See this article for great insights.

4. Collaborate

Collaboration marketing is one of the budget marketing ideas that you can benefit from in several ways — it is budget friendly and efficient.

As a mompreneur, you are always busy with tasks that demand your attention at the same time and you are not looking at spending a whole lot of money on marketing, at least not yet. Here is where collaboration marketing comes in for you.

All you need do is approach businesses that sell or provide services that complement yours and propose to cross promote your products/services on each other’s platform. You probably see this type of marketing everyday, you too can leverage on it to market your business when on a budget. Read more about this concept here.

5. Outsource

Outsourcing is on this list because if the need arises to outsource, and whether you are on a budget or not, you will likely outsource to marketing professionals who know what they are doing. This will usually guarantee you a good return on every dime you invest. Go here to read about how to select a good company for your marketing.

How does all of these tips add up to help you market on a budget?

  • You can implement almost all of them without spending a dime except for number 5.
  • Some of these ideas can be implemented along with your normal business operations, i.e. you do not have to set aside any special time to work on them, such as numbers 1 and 4.
  • There you have it, time and money saved while business awareness remains on point.

Which of these budget marketing ideas would you like to implement? How may we assist you with it? Use the comment section or contact form to let us know your thoughts.

Toyin Adekola

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