But for many new founders, money is tight. You may feel the need to push all your valuable dollars toward your products. When I consult with entrepreneurs, I hear the same refrain time and again: “My budget is too low for any real marketing.”
My response is always the same: If you don’t market your product, soon you won’t just have a low budget; you’ll have no budget.
You need to get sales somehow, and word of mouth isn't always going to work unless you have a ridiculously connected network already. Fortunately, there are plenty of ways to market your business that don’t include hiring an expensive ad agency — if you’re willing to roll up your sleeves.
Take Advantage Of Free Social Media Platforms
Social media platforms are cheap, useful marketing tools that many business owners still somehow gloss over. Let’s say you’ve opened a gym. Six months in, your margins are tight. You need more members. Well, simply grab your phone and start using a social media platform such as Facebook or Instagram.
This strategy can be super effective on Instagram: Block out 45 to 60 minutes every day to search for potential customers in your area using relevant hashtags, and then reach out to 100 of them with targeted direct messages.
As a gym owner, you can find the people you think may be interested in a membership. When I'm searching for hashtags to find people locally, I like to stick to hashtags that have a city or place name in them and are somehow connected to my topic. In the case of fitness, you could search for #RunyonCanyon, a local hiking spot in Los Angeles. In the direct message to these relevant people, I may say, “How’s it going? I own XYZ gym, and I'd be happy to offer you a free private training session. It's a great complementary workout to hiking.” Out of those 100 messages you send, you’re likely to find people who take you up on the offer. And if your service is good, many may leave the session primed to buy a membership.
This system can work for practically any business. Find people on social media. Then offer a freebie to get them started, and upsell from there. It can be an effective tactic — and it’s literally at your fingertips.
Use Unique Offers To Get Other Brands In Your Door
Social media is full of companies that may be willing to exchange something and promote your business. Let’s use the gym example again. If your gym is in a metropolitan area, I guarantee certain companies nearby specialize in workout clothing, energy bars and other fitness-related products. They may not be Lululemon, but that’s exactly why it's worth reaching out — they’re small enough to work out a deal.
Offer your gym as a space to shoot photos and videos for their marketing. In return, simply ask that they tag you with a shoutout.
It all boils down to direct outreach. You can’t work out a deal with someone if you never contact them in the first place.
Write Personal Messages Instead Of Automating Outreach
Early in my career, I was able to connect with big-name entrepreneurs and industry leaders who were “out of my league.” My secret was simple: I sent personalized messages.
Most who are well-known in their industries get spammed constantly, so a genuine message is like a ray of light through the clouds. The key is to mention something you know they already like from your research, and keep it short and to the point.
If you want to use a tool to help you send messages, that’s fine. But customizing each message will likely take you much further than sending 1,000 spammy boilerplates.
Recycle Your Most Effective Outreach Messages
Once you master direct outreach, the next step is often crafting ads. When some business owners reach this step, they suddenly get the idea that they’re genius copywriters. And yet, many of them come off sounding incredibly sales-oriented. Why? Because they got rid of the part that was working for them: the personal touch.
When you’re writing ads, it’s even more important to sound personal. Try to make your ad copy a natural outgrowth of your direct messaging — just recycle what’s been working. Personalized ads are all about connecting with the viewer in a meaningful way. Boasting about “30% off on new pants” is just a tactical price play, whereas making the audience really feel like you know them and their wants can create a more personal connection. Mentioning places they like and things they like and even getting the right tone or vibe are all key parts of this. Try to connect with your audience's demographic as much as possible, and make them feel like you know them and ideally are one of them.
Find The Right Technology To Test And Optimize Your Marketing
Marketing is equal parts people and technology. Let’s say you have a landing page button you want visitors to click. A human can make an educated guess that a red button will work best, but they have no real way of knowing whether it will work better than a green button. On the other hand, it’s very easy to set up conversion rate optimization software that can perform split tests on any number of items and tell you exactly what works best.
Colors, images, word choice — it’s all testable if you have the right technology. This is also a cost-effective way to optimize your marketing as you continue to add pieces over time.
Marketing your product is as important as having a great product in the first place. And even on a shoestring budget, it’s still possible to get the word out. All it takes is a little dedication and a willingness to spend time using the platforms and tools that are readily available to you.
