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10 Small Scale Business Ideas To Use Without Digging A Hole In Pocket

10 Small Scale Business Ideas To Use Without Digging A Hole In Pocket
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You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Spending on marketing can be a costly affair and it is especially a cause for concern in case you own a small business that emits limited income. On the contrary persevering in the cut-throat competition requires marketing efforts without a doubt.

But, who said that marketing cannot be carried ahead even in shoestring budget? Well, here are several tips that shall allow you to continue marketing your business without diffing your treasure box.

1. Social media – You may perhaps find it difficult to chart your audience geographically but most of them are present virtually over various social media platforms. Do not take social media for granted since there are several brands that are marking their existence merely through social media marketing. Run sponsored advertisements, generate quality content and keep the page/account updated consistently.

2. Research –  This is certainly the most under-utilised pre-marketing tool. We shall call it because ideally prior implementing your action planning or even before preparing one, the organization must undertake thorough research covering several facets. You can search about the needs/wants and demands of the consumers and market. A study of the trends waving in your industry would also become an integral move.

3. Concentrate on quality – This might sound to you a completely unrelated and a concern to production department but if thought upside down it is a vital aspect. When you provide apex quality products to the customers they tend to talk good about your company to several other people. They begin to suggest your product/service to other making your business grow without actually spending much on the marketing. This is also one of the significant reasons why organizations primarily focus on their after sales services.

4. Data collection – Keeping a tap on the data of customers turns out to be beneficial especially when you deal with a small business. When you maintain your data on your own, you are not required to spend on the acquisition of the data from the third party before chalking out your marketing plan. Hence, it is advised to maintain various files that would reflect a variety of analysis making your planning time and cost effective.

5. Rich media and infographics – The reckless audience these days have not timed for the items or elements that don’t grab their attention. One of the competent ways of grabbing engagement on your website/blog/social networking pages is to incorporate rich media such as visuals and audio. Researchers prove that a visual attracts attention more a written text. Hence, a correct blend can easily keep your audience hooked.

6. Explore LinkedIn – Your motto while signing in LinkedIn shouldn’t stay constrained to adding connections and making it as wider as you can rather there are numerous things that you can carry on LinkedIn. Prepare a company’s page and participate in groups. Also, make sure that you participate it regularly. You should also keep updating your network through regular posting. Making it more active shall ripe financial fruits in future.

7. Hold contests and referral programs – In order to generate new leads and acquire the potential market, you should arrange monthly contests. Yes, it shall require you to loosen your budget but at the same time generating new leads would imply more customers contributing to the overall sales. Similarly, running referral programs wherein you shall award your customers with goodies or discounts for referring your products/services to someone else. This leads to an extended database along with prospective sales.

8. Blog by your side – Keep a blog by your site and post it regularly. Not just that the presence of blog brings traffic to your website but it also interests the user if you post quality content regularly. But, do not forget to post it consistently. Updating it once a week or twice a week is still a legit frequency. Share it to various social networking platforms of your company.

9. Guerrilla marketing – Guerrilla marketing costs you less and it possesses efficacy in letting the right message reach your audience. A lot of businesses are opting for guerrilla advertising since it is inexpensive comparatively at the same time it is intriguing to the buyers which enhance the recall value of your brand.

10. Public relations – Using the paid public relation tactics and certainly let you shift your creative burden on them. There is the minor investment without a doubt but given the return o investment you would gain, public relations is worth the try. If you are not willing to allocate majorly for public relations, you can always opt for smaller chunks instead.

Edition: December 2016

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