When you’re starting out as a company it’s important to take care of your finances. Although many established companies spend millions on their marketing function, it’s something which can be done effectively for relatively cheap.
Here are five ways you can save money for your marketing department;
With social media consultants and marketing agencies all vying for contracts with major companies, it’s no wonder that entrepreneurs can forget that social media is a resource which is entirely free, and easy-to-learn.
If your marketing budget allows it, getting an agency onboard can be advantageous. They have staff who’ve had experience of making dormant feeds into successful ones, and drive ROI through new channels.
They aren’t essential however. As long as you have a computer and an internet connection, it costs nothing to make accounts on all the necessary channels - so build a strategy and dedicate a lot of time to learning how social can have an effect on your marketing campaigns.
Conferences aren’t just a great way for companies to share knowledge, they also give smaller organizations an opportunity to stand in front of a group of likeminded business people who might ultimately be ready to invest in a company at the start of its journey.
Public speaking isn’t everybody’s strongpoint, so it won’t be the favourite option for every marketing department - but having someone who’s capable of delivering inspiring speeches might be the key to find investors who want to be part of your journey.
You should be willing to sacrifice a few sales in the form of freemium subscriptions or sample products if your marketing department isn’t cash-rich.
Giving your customers a ‘try before you buy’ is useful in two ways.
Free items or services can be used as incentives for customers to interact with you across social media, and can even be used on occasions when you need people to participate in surveys.
An opportunity to sample a product before it’s bought is essential because it allows them to buy with confidence. If you’re a young company, it’s essential that you try and build trust with your potential clients.
The notion of ‘networking’ is riddled with cliches - ‘you never get a second chance to make a first impression’ and ‘put yourself out there’ are just two that come to mind.
Networking is, however, a vital part of modern business and cash-strapped marketing departments should not overlook it. Opportune meetings can lead to new sales leads, so it’s important that companies take every chance to network.
It’s also the best way for your company to grow organically, with word of mouth from the right people playing a key part in future sustained growth.
When people are listening to your elevator pitch, they really want to know the answer to one question; how will it affect me?
If someone’s interested in your company, make sure you don’t waste the opportunity with a poorly crafted pitch that doesn’t hook people in straight away.
Take the time to make this perfect - it will be worth it in the long-run