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7 Inexpensive Marketing Strategies for SMEs

Updated on November 24, 2016

Inexpensive marketing strategies

Inexpensive marketing strategies
Inexpensive marketing strategies

Inexpensive marketing strategies for SMEs

Marketing is the key to the success of any business. This is the reason why businesses always put marketing on top of the hierarchy when it comes to departments. It is every business’s wish to practice some form of marketing at any given point in time. However, the biggest obstacle facing most businesses is their inability to properly finance their marketing activities or departments. Well, if you are a business owner facing such a problem, then you would need to consider effective marketing ideas that would cost you little to nothing at all. In this post as we would discuss 7 inexpensive marketing strategies for SMEs.

Below are some effective but less expensive marketing strategies that SMEs should consider for their businesses:

Have a website for your business

One of the best ways to make your products or services available to potential customers is to make sure you get a website for your business. Your businesses website should be designed in such a way that it would detail the activities of your business. Of course this would include your core business and the range of products or services you deal in. Getting a business website does not come at a cost beyond your businesses capabilities. With advancement in technology, these days you can get your website designed for just a little fee. The main advantage with having a business website is that it gives more information to customers. You don’t need to spend much time on phone calls explaining what your business is about to a potential customer; this saves you time. Another advantage with a website is that, if it is properly done, it exposes your business to potential customers who would be searching for your services or products online.

Take advantage of social media

Social media has come to stay and the users would only increase by the day. So what are you waiting for? Social media sites like Facebook, Twitter and Linkedin are very big social media sites that you can take advantage of to market your businesses products or services. Getting signed up to any social media site comes at no cost at all. All you need to do is to be consistent on these social media sites and attract a lot of likes to your businesses page; thus in the case of Facebook or a lot of followers in the case of Twitter. You can also link your official social media page to your website or you can have a link to your social media page on your website.

E-mail marketing

Another one on the list of inexpensive marketing strategies for SMEs is e-mail marketing. It might sound a little bit outmoded, especially with the introduction of several social media websites. However, one thing you should note is that every publicity gives your business another opportunity to get a new client or customer. With the e-mail marketing all you need to do is to have a drafted e-mail which you can customize to suite particular potential customers. Just like social media, with e-mail marketing you would also need to be consistent in order to get results. With e-mail marketing you would need to be cautious to avoid your e-mail being flagged as spam by recipients.

Business directories

Another low cost marketing strategy for SMEs includes business directories. This idea includes getting your business enlisted on your nation’s business directory. A business directory listing is free and briefly details what you business is all about. There are thousands of businesses listed on a business directory, so why don’t you get enlisted as well.

Text messaging

Text messaging is another effective yet inexpensive marketing strategy that SMEs can utilize to market their businesses. Businesses have unlimited options when it comes to marketing. One of the options available to businesses and SMEs is text message marketing. Text messaging is relatively cheaper compared to huge billboards and TV commercials. One thing with text messaging is that it can be very effective or even more effective than billboards or TV commercials. All you have to do when using the text messaging strategy is to compile a list of contacts (preferably your existing customers or potential customers who have called to enquire about your products or services) and send them text messages that aims at promoting your business. With the use of smart phones, text messaging has become a lot easier.

Maintain existing customers

Another very cheap marketing strategy which is right in front of you is your existing customers. It would be a lot easier to make repeated sales to existing customers than to make sales to a new customer. For this method to be effective you would need to have a robust customer service department. You would also need to train your employees in some customer service skills.

Vehicle branding

Your businesses vehicles are another less expensive marketing strategy that you can implement. Your vehicles travel long distances on daily basis; hence why don’t you take advantage of this to display your products through branding of the vehicles. Vehicle branding can be very effective if done in the right way. It is advisable to have your products branded on your vehicles than the name of your business.

As I begun in this article by saying that marketing is the key to the success of every business. I would advise that as a business owner, you need to consider critically the above mentioned inexpensive marketing strategies for your business.

What is your preferred marketing strategy?

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