According to the ‘13 Startup Trends & Predictions To Watch Closely In 2020‘ by startupbasics.com, 2020 is in for a drastic shift towards personalized marketing.
This trend will be a consequence of the growing power of the users.
Furthermore, in 2020 companies will move towards targeting and speaking to customers directly.
For a startup, it is difficult to take equal care of all the aspects of your business and maintaining standard quality.
As an entrepreneur, certain decisions that are taken during the initial phase of your startup ensure a lasting impact in the future.
Whether this impact will be positive or negative also depends on your early decisions.
Read how you can employ cost-effective and inexpensive productivity tools in your startup.
Here are the best Top 5 Low-budget marketing strategies for your startup that at will definitely help you ace your game.
Content Marketing
After the post-COVID times, our entire lives have been “replaced” by the internet.
The internet is an ocean of content. Content is everywhere!
The amount of content consumption by users is at an all-time high. In short, Content marketing is the cheapest and most cost-effective form of marketing that your startup can go for.
Any good quality content on your website has a multiplier effect for you –
- it reflects greatly on your quality and standards
- it increases the organic reach of your startup (by targeting readers)
Most startups (especially tech) go for maintaining a Blog. It’s easy, effective and has a very high success rate.
Check out the Ubblu Blog to see get some refreshing ideas. You can also go for more engaging content material like podcast, videos, interviews, GIFS or even webinars.
Social media marketing
Social media is the new-age marketplace.
Almost 85% of your potential customers reside on either one of the many social media platforms. Statistically, social media has around 3.2 billion users (that is about 42% of the world’s population).
Having a social media presence is as important for any brand as is having a customer base because frankly, it’s the same thing. Social media marketing isn’t as easy as it as may seem to be.
Social media houses a plethora of content, what will make your content stand out? The answer is simple. First, find yourself the right target audience (i.e your potential customers).
Now create content to cater to them. Make sure your content is interesting and also markets your product/service effectively.
Read what Harvard Business Review has to say about ‘Branding in the Age of Social Media‘
Referral Marketing
Referral marketing stands for the advertisement for a brand/product/service through its existing customers, as compared to the external sources of advertisement.
There is usually a nominal monetary/coupon-value incentive attached to the referral for both the referrer and the referee.
Data from extole.com suggests:
“Customers who are referred to your brand are up to 5X more likely to use your referral program than customers who weren’t”
Referral marketing is an inexpensive and sure-shot tactic that never disappoints.
Major brands like Uber, Evernote, and even Google use referral marketing tactics.
Email Marketing
The average expected Return on Investment (ROI) for every $1 spent on email marketing is $42. With over 3.9 billion users of email around the globe, email marketing still stands out to be one of the best low-budget promotion hacks globally.
Email marketing, unlike any other form of marketing, fits all these parameters-
- adjustable scale
- personalised marketing for customers
- time-saving
- testable before sending
- measurable rate of success,
And is therefore one of the most widely used marketing strategy in all sectors, industries, and countries alike.