8 Types of Affordable Marketing Strategies

Updated on 18 June 2024

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As a small business owner, you face many challenges. Issues such as access to funding, slow growth and small audience reach. Having good affordable marketing strategies can propel you from a small business to a global brand, just ask MaXhosa Africa.

A marketing strategy is a plan that businesses use to attract customers to their products or services. It’s your overall game plan for finding and reaching potential customers and turning them into regular customers.

To really benefit from marketing, you need to develop a robust marketing strategy. In this article, we will explore the different types of affordable marketing strategies available to take your business to the next level.

1. Content Marketing

Content marketing is a type of marketing that is used to gain, engage and retain customers. This strategy involves the creation and sharing of videos, blogs, social media posts, pictures etc. Using content marketing is a great idea for a small business because it is affordable, engaging to customers and helps you promote brand awareness.

2. Google My Business

Ranking your Google My Business profile is a smart marketing strategy. If you are a local business, Google will help customers find you quickly based on your location. Being ranked on Google helps your business reach more people and makes it more trustworthy and visible online.

Ranking on Google not only gives you access to a wide audience but also gives your business credibility and visibility. You can rank your Google My Business listing by optimising your profile and making sure customers leave reviews.

3. Social Media

Using social media for your business is a no-brainer. Nowadays, everyone is on social media. If you’re not, people will find your competitors instead. Make sure you have a presence on social media to avoid losing customers. If people can’t find you on social media, they will look for your competition and you don’t want that.

Marketing on social media requires an investment and resources to build your audience. If you are an online business, social media is important for visibility and brand awareness. And if you are not an online business, you can still use social media to market specials and gain a new customer base.

4. E-mail Marketing

Research shows that 60% of buyers say they buy after receiving marketing e-mails from brands. This shows that e-mail marketing is not only affordable but also very comprehensive. Utilising e-mail can help you turn emails into money and more customers. You can use e-mails to promote sales, promote your rebranding and send personal messages to loyal customers.

5. Staff Incentives

Getting referrals for your business is the easiest way to find new customers. By incentivising your staff, you can benefit from their knowledge of the business and ask them to go out and spread the word.

The incentive motivates your staff to bring in new clients. Offering things like ‘a day off’ or ‘vouchers’ can push your staff to bring in new clients.

6. Partner with Other Businesses

It is easier to do something if you do it with someone else. Partnering with another business can give you access to a new audience and can cut your marketing costs. It is best to partner with a business in your area to make it easy for customers to reach both businesses.

Identify a crossover between your business and another business and find a way to tap into that. You can be a coffee shop partnering with a bakery to offer free vouchers for a pastry or baked good with every coffee bought.

7. Events

Hosting or attending industry events can boost your business’s visibility. These events have large audiences, and some may not be aware of your business. If you do not fear public speaking, register to be a speaker and deliver talks at events. Speak at local clubs, schools, churches and local events.

8. Deals Deals Deals

Running deals and discounts can bring in customers. If your business has a strong profile but lacks visibility, use discounts and sales to bring in more customers. You can advertise a 2-for-1 special or even a referral deal for existing customers. This will encourage your customers to bring in potential customers and ultimately grow your business and increase brand awareness.
So marketing can be affordable. You just need to pick the right affordable marketing strategy for your business and use it to its full potential. These strategies are low-cost but have a decent effect on your business and will definitely help pull in more customers, and more money.

For more information, visit the SME South Africa website. You can also book an appointment with one of our experts on our advice page

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