Fighting against large competitors in today’s business market is quite hard, especially if you are a company with a small budget. Before launching your marketing campaigns, it's important to create a marketing budget for your business.
There are plenty of ways for smaller companies to market themselves, and fight competitors with already established brands. Some of them are just personal finance habits you can use on your own.
Today, we’re going to talk about the best ways to market like a big business, even if you have a small budget.
Search Engine Optimization
One of the best ways for smaller companies with a limited budget to do marketing of their products and services is to improve their blogs and websites, in order to attract potential clients.
Whether we’re talking about pushing certain keywords or using the visual elements, the most important thing is that readers and potential users of your products and services can learn something new and useful.
Because of this, SEO optimized content writing is a huge topic, but the core of it is to provide helpful and high-quality content to your website visitors.
What is SEO?
SEO, or search engine optimization, is a technique that is used to optimize your website and content on it, in order to make it more visible online, by being ranked higher in the search results. There are several aspects of search engine optimization: ● Technical SEO – includes activities whose main goal is to make sure that the website’s performance is stable. No one likes to browse sluggish websites with terrible performance. ● Onsite SEO – includes searching for and using relevant keywords, optimizing internal links, and articles in general. ● Offsite SEO – includes link-building and outreach activities, allowing you to increase your website’s domain rating and overall position in the search results. ● Local SEO – it is basically all the same, with the addition of using local and geographical keywords to optimize the content for local searches. This is especially important for companies that are location-based, such as stores, factories, and similar businesses.Benefits of SEO
Let’s take a look at some benefits search engine optimization can bring to your website, blog, and business. ● Increased website traffic – successful SEO can boost the number of visitors on your website, allowing you to reach out to more people and “recruit” more potential customers. ● Improves reputation – the main goal of SEO is to place you higher in the search results. Websites that are on the first two pages in search results usually have a higher reputation. ● Mobile optimization is the key – over half of total online searches are done via mobile phones nowadays, which is why optimizing your website and content on it for mobile searches is extremely important. ● Great for startups – SEO is cheaper than some other types of advertising, such as paid ads, for instance. For this reason, it is a very popular method amongst startups and new businesses, since it allows them to compete with larger companies. ● Lessens the business costs – SEO leaves long-lasting results on your website. Its effects are not immediate, but they last much longer than paid ads, which leads to the reduction of business costs. ● Increases the business value – apart from just reducing costs, SEO also increases the value of your business. With lower costs and increased website traffic, it means that you will probably get more potential customers. All that will lead to an increase in revenue and eventually higher profit. ● It’s crucial in modern marketing – modern marketing focuses a lot on digital marketing, which is one of the reasons why SEO is crucial. Without it, your online visibility is lower.Partner Up and Find Good Investors
Having a small budget, or being a new startup can make it quite hard for you to fight large competitors with a large capital, and already established brand.
Therefore, you should try to go with the saying “strength is in numbers”, and team up with other companies, in order to improve your mutual positions.
Now, finding the perfect partner can be a bit difficult. You don’t want to collaborate with someone from who you won’t have any benefits.
Always try to find a partner with whom you can grow and evolve your business. There are several solutions when it comes to this.
First, you can look for a partner in your own niche or field. Partnering up with someone in your field which offers completely services and features is a great way to capture attention in a competitive market. This allows you to improve your business standings in an already established market.
Apart from that, you can also try to partner up with someone from a different niche, and that way try to penetrate a new market. This way, you can lower some marketing costs.
Also, another useful piece of advice would be to find investors for your startup. This could improve your standings and allow you to invest in your business.
Email and Social Media Advertising
One of the cheapest ways to advertise your products and services is by using email advertising. You may think that it’s dead, but the truth is completely opposite according to Google Search Statistics.
A lot of companies, both small and large, still use promotional and follow-up emails to advertise their products and services.
Now, as already stated, this is not expensive to od, and it will surely fit your digital marketing budget, which is pretty important, especially if you own a small business.
Apart from that, you could also take advantage of social media advertising. According to Statista, there are over 2.7 billion active members on Facebook, which makes it the largest social media network out there.
And, since social media is no longer used just to connect people to chat with each other, but companies also use it to connect with their audience.
This allows them to reach a wider audience, from all over the world, making the world one big open market, where competition is blooming.
Earning Business Awards
How many times have you decided to buy something, just because you saw that the product in question got certain awards? The answer is probably a lot. This is just how our mind works.
For example, on many sites, you can see that there are different types of awards for specific products and services.
This usually means that you can trust the brand in question, whether it is about promises they make, or about the quality of the products.
Therefore, it is a good idea to go for these awards and win as many of them as possible, since they are extremely useful to smaller companies. They will allow you to increase the trust your potential customers put in your products and services.
However, there is a catch. Amongst all those rewards, there are some that are fake, and whose only goal is to take your money.
So, if you get an offer from some individuals or companies regarding certain rewards, make sure to check if everything is genuine before you accept it.
Some people will offer to give you a reward in exchange for a small fee. That type of offer is usually a scam, and the reward is completely worthless.
Business Cards Still Matter
One of the most common types of marketing in the past was using business cards to promote your brand.
Even though you may think this is out of practice now in this digital era, that point of view would be completely wrong.
Yes, more people tend to look for what they need online, but taking a business card from someone is also extremely popular.
It gives a sense of nostalgia, and even though you can find most of the information online nowadays, you can see a lot of people having business cards in their wallets.
Creating a Referral Program
In today’s global market, people have an option to choose from a large number of similar products, from all around the world.
Even though this is pretty great, it can also cause some problems. Most importantly, it could cause trust issues between the customer and the company.
For instance, if you buy some products online from Amazon, and you get a product of lower quality on your address, you might be hesitant to buy something again.
However, if you look at the comments other people have been posting about the supplier, you can easily decide whether that particular supplier is reliable enough.
If the product has a lot of positive reviews, then it is obvious that you can trust that specific supplier, so there is no reason not to buy their products and services.
However, if you see mixed or even mostly negative reviews, then it’s probably a good idea to either investigate further or to simply skip this purchase and find another potential substitution.
Also, people talk amongst themselves, so you might hear something about the product from your friends and family. They often give good recommendations.
This is where a good referral program comes in. It motivates people to share positive stuff about your brand, allowing you to get new customers.
So, how does one make a good referral program?
First of all, you want to think of a nice set of rewards for your loyal customers. And then simply create a set of terms needed to get those rewards.
For instance, you can use personal referral codes and award people who bring more potential customers via those codes.
One good example is a so-called pyramid scheme. The more people you attract to a specific product or brand, the more benefits you will get. This includes free products, travel vouchers, and similar.
Guerrilla Marketing Strategy
You want to enter the market fast and having a beachhead strategy approach can do wonders. When it comes to guerrilla marketing, it is a very simple concept that is not clearly defined, due to its nature.
Basically, guerilla marketing consists of activities that are not conventional, but that is used to improve the awareness of your brand.
This doesn’t include any specific strategy, but everything that is new and innovative. You can think of something that might work and test it. If it works, there is no reason not to use it.
When it comes to efficiency, this tactic is extremely useful to small companies because you don’t really need a hefty budget to be innovative.
It’s a good way for them to compete with the much larger competitors and to eventually fight their way to the top.
Using Your Brand as Subject Matter Expert
You must be wondering what a subject matter expert is. Before we dive further into the topic, let’s define it and find out what exactly it is.
A subject matter expert is someone or something that is recognized as an expert in any field. So, imagine that you are specialized in laptops. If you want to become a subject matter expert, you need to know everything about laptops.
This way, you can transfer your knowledge to your customers, by answering their laptop-related questions, and helping them resolve certain issues.
Now, when we transfer this idea to the marketing of your brand, is that you don’t need to advertise your products and services, but your brand instead.
What that means is that people will start to recognize your brand as an expert in the field, and will seek to cooperate with you because of it.
This will not just increase the reputation of your brand, but also the trust your customers have in you and your products and services.
Once that is done, more and more people will choose your brand, which means your sales and profit will eventually rise.
Even more important, your overall business value will also increase, which is even better than just having a higher profit margin.
Market Your Business With a Small Budget - Yes, It is Possible
These were the most important marketing tips that should teach you how to market like a big business, even with a small budget. Test out everything you’ve seen here, and you will soon notice positive results. Everything here should help you to achieve that, but you could also analyze your business and try to use methods that suit your business activities the most. Growth Hackers is one of the best digital marketing agency in the world. We help small and medium companies to propel their companies through digital marketing techniques such as creating content on social media, SEO optimization, appealing mailings, Google and Facebook ads, etc. You want to market your business with a small budget? No worries. We have flexible strategies that can match any purses. Contact Growth Hackers and we’ll see how we can take your business to the next level.
Alexander Hunkin
I am an Australian based startup advisor with in-depth experience in growing business. My meaningful and strategic advices have helped in setting and growing many startup companies in Brisbane and Perth. I am also a content creator for different niches. The top ones are business, career, finance and marketing. I aspire to share my experiences and am always on the lookout for the next opportunity to enhance my skills. When I am not busy working, you can find me cooking exotic meals, scuba diving and cycling.
