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Every small and big company needs marketing strategies. These marketing strategies help them to sell their product. Ultimately any company wants to sell their product and make revenue and profit.
But its companies won’t have enough capital to spend on marketing. Big companies can invest a lot of cross in marketing. But small companies or startups find a difficult to invest in that field. But still, without a marketing strategy, a business cannot grow. It is like growing a plant without supplements.
Mini small size company e want low-cost marketing ideas. So that they can sell their products. Even marketing strategies help them to be visible in the market. So low-cost marketing strategies are in high demand now.
Due to Rapid digitalization, small size company doesn’t need any advertising company to make the ad. It is all off with a mobile phone and internet. There is a lot of crazy app on the PlayStore which makes it easy for startups.
Now any company can show their ads just with their mobile phones. Even startups or even small stores can create banner posters and it and campaigns on social media. It became too easy for companies now.
Here is the most complex thing that comes out of it. Everyone has the ability to for marketing their products. So customers are just fed up with the lower-level marketing techniques.
However, your marketing strategy should be e the best one with the low price. So in this blog, we are going to discuss low-cost marketing strategies for startups.
What is low cost marketing strategy for startups?
A low-cost marketing strategy is a technique to sell your products. The company and products both will be visible to its customers.
Marketing is not all about advertisements. There are a lot of ways to market your product. We are choosing a good way with an affordable rate.
Small size company or startups don’t have enough money for marketing. Sach organizations make use of their ideas to market the product. The way this organization portrays the product in the market is called a marketing strategy.
Low cost marketing strategies
Simple marketing strategies
The simple way of marketing your product is just applying a rule called “Simple”.
It looks simple right. Yes, no people don’t have enough time to understand your product. So you should just appeal to the customer in such a way that they won’t forget.
Any product has two aspects one is a problem and another one is the solution. So your product should so easy that a customer should understand at first sight.
So the first rule is that, make your product simple. Don’t add any complexities, because customers don’t have enough time. In this busy world, customers have hardly any time in understanding.
So one has to eliminate the complexities in your product and make it simple and appealing.
FOMO (Fear of missing out)
This is one of the best low-cost marketing strategies for startups. Here you just trying to appeal to our customers. Here the company or startup is just creating a scenario.
People will be conscious when there is a scarcity. Earlier people were consciously using 1GB of internet very wisely. But now people just where this one GB in minutes.
So people are just not conscious enough about utilizing data. Because there are no available it won’t be under the scarcity list. So they even don’t mind using the internet efficiently.
But this thing should not happen in your product. If customers think the product is there forever then they don’t make any kind of hurry to purchase the product. As a company, it needs sales for weeks, months, and yearly.
So so the companies always try to create scarcity. This is the reason the company will launch its campaign frequently. Must have you heard these taglines like
- “freedom sale for 2 days with 70% off”
- “50% discount now or never”
- “Flash Sale ending in 1 day”
- ” Grab the deal now”
- “Make best in saving money”
- “Try to be smart and save now 80% off”
These are the campaigns run by the company frequently. So this is a low-cost marketing strategy for startups. The startups or the companies are creating a scarcity environment. So customers will purchase the product soon suit.
From best low-cost marketing strategies for startups. Try to create scarcity within your product. Then people will follow you.
Before creating FOMO there should be a good relationship between your product and customers. This means you should have had a good sale previously.
Benefits for customers
Now customers are going to buy a product only with certain benefits. Because customers are getting huge offers from many big companies. So there should be a differentiating factor.
It is good to give some benefits to your customers. For example, if you are running an eCommerce site. Then you have to give benefits like
- Easy returns
- Free delivery
- Deliver at any time
- 100% return on exchange
So these should be your core things while running an eCommerce site. There should be a certain benefit given in certain industries. Then only customers will just account for your product and service.
This is one of the best low-cost marketing strategies for startups. Here, year startups are just providing extra benefits. It is the only way you can hook the customers.
Even the company like Amazon follow the same. They are created a hook buy one-day delivery. Evil another new company called Zepto follows the same. This online grocery delivery startup, promises customers to deliver groceries within 10 minutes.
So from such benefits, customers will never forget its service and Company. So the customers will stick on to your services forever. So this low-budget marketing idea will work for sure.
Other Low cost marketing strategies for startups
Customer and company relations should be very good. Only there will be repeating customers. The ultimate profit for the company will come from repeat customers.
So the company should be wise enough to have a rigid relationship with customers. In this digital Revolution world, it has become too easy to Grab customers. But it is too difficult to retain them.
Sonu many companies are not focusing on grabbing the customer. But they want them to return for long as possible. Even focus on customer experience as well. Customers would forget your service and experience forever. If your product is nice but the experience is not good enough. Then customers will never return to your product once again.
Try to utilize each and every opportunity. That is what Amul company does. Whenever there is event occurred. Then Amul company try to run a campaign relatable to that event.
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For example, there is a new President elected in India. So try to run a campaign that will be relatable to your product with this scenario. But be wise and careful in running. Because running this kind of AD will be more dangerous. It will make or break your product. So be wise and think twice before running such kinds of ads.
So these are some of the low cost marketing strategies for startups. Be sure about your product. Because your product is the ultimate game changer for your company.
These low cost marketing strategies are just hooked for your customers. But the real magic lies within your product and service. Try to focus on those two sectors keenly.
Advantages of low cost marketing
Firstly a lot of money can be saved. Then this money can be utilized for another service.
Secondary, the company won’t have any kind of burden on the spending on marketing. So the company can just focus on its product more keenly.
Thirdly, by using low cost marketing strategies company can just reduce the burn rate of the company. Ultimately customer acquisition and spending on marketing are there negative sides of the finances of the company.
If a company tries to save money from this kind of spending. Then the overall revenue of the company at the end of the year will be good.
In this way, small-size companies or startups follow low-budget marketing campaigns. It is a clever thing to do. But following all the low cost marketing strategies will not help the company to grow.
So be very conscious of the low cost marketing strategies for startups.
Because if one of the marketing strategies won’t work. Then it will leave a negative impact on the company.
Finally from this blog, one can easily learn about low cost marketing strategies for startups.