Marketing is the backbone of any business, small or large. According to Wordstream, the global digital advertising market will be worth approximately $786.2 billion by 2026. While traditional marketing strategies are still popular, digital advertising has taken center stage because it’s cheap and has a better return on investment (ROI).
If you’re a student entrepreneur, you’re probably looking for affordable marketing tactics that will help your business grow fast. Here are five marketing tactics for winning new business.
Content marketing may not explicitly promote your business, but it invokes interest in your product or service. For instance, if someone is looking for information on how to lose weight and comes across a well-written blog post on the same, they are likely to subscribe to the blog, subscribe to the email list, and buy a product.
Content marketing is a powerful and cheap way to promote your business. Create a responsive and mobile-friendly website and add useful content for prospects to read. You can use different content types: articles, podcasts, videos, infographics, and so on.
Email marketing may be an old way of reaching an audience, but it’s worth it. According to Hubspot, email marketing has one of the highest ROIs, each $1 spent generates $42 in return. Create an email list and engage prospective customers. Here are some benefits of email marketing:
- You engage with your audience in real-time
- You can categorize your subscribers according to where they are on the buying journey and offer more targeted and personalized campaigns
- Measuring the success of your email campaigns is easy
Social Media Marketing
The average internet user spends 2 hours and 27 minutes on social media. This is enough time to interact with your engaging posts and promotional content. Social media marketing works, but only if it’s executed the right way.
Pick the right platform for your business. For instance, Instagram and Facebook are better for dealerships than LinkedIn. Create quality and engaging content and post regularly. If you own a dealership, have a car stock image library for prospects to check out. Also, use premium images in ads to attract potential customers from afar.
Affiliate marketing is a form of marketing based on performance whereby a business rewards its affiliates for each customer they bring. Such partnerships are highly effective for small businesses with tight budgets because you only compensate the affiliate marketer if their campaign is successful. The affiliate can be a blogger, vlogger, or coupon site. They promote your product or service on their site, and when a customer buys through them, they get a percentage of the sale.
Google My Business
Using Google My Business is a must for every startup—whether it’s targeting local or global customers. It gives a business visibility on maps and local listings. Moreover, the platform combines your Google Profile, Google Maps, Analytics, Google Reviews, and Google Trends to give you a comprehensive, measurable, and affordable way to promote your products.
This article does not necessarily reflect the opinions of the editors or management of EconoTimes