Marketing does not always require a huge budget, fancy plans, and extravagant techniques. All one needs to do is understand the market, identify the target audience, understand their psyche, and target them to boost your sales.
No product is made for everyone. There is always a target audience that can be identified based on economic ability, need, geographical location, culture, etc. For example, a company selling handmade designer sarees will target women who have a high standard of living, stable income, and luxurious lifestyle. As they are the ones that can afford it and would like to dress up and go to various events. Hence the middle- and upper-class women are the target audience.
Many small businesses especially those who have started in the lockdown do not have a big budget for marketing and that's okay. If one uses their budget smartly it can lead to huge returns.
Various platforms for marketing
Apart from your website which is a must for conducting smooth, scalable, and organized business various social media platforms are the perfect place for marketing. Instagram, YouTube, and Facebook to name a few.
If your target audience is aged 15-35 the best place to market your brand is Instagram. Start your business account for free and upload engaging pictures, reels, and videos. Apart from organic growth, you can also plan a paid promotion.
In paid promotions, you can select a video or photo and can boost it so that it reaches more people. You have to select the age group, target geographical area, and interests of the people you want to target. According to your budget, Instagram will share your content. The more the budget the longer the campaign will run.
YouTube paid advertisements are also a great idea for promoting yourselves. But many people skip these advertisements so I suggest that you collaborate with famous YouTubers for more reach.
You can enter into a paid partnership or sponsor their video in exchange for them promoting your brand in their videos and posts.
Google ads are another way of marketing that is in demand today. Make sure your ads get posted on relevant websites or else they will be lost and unseen.
How to conduct giveaways smartly
Instagram giveaways are the most common way of marketing on this platform. Generic giveaways are boring as once a few people win something and the rest get nothing. To create the most impact your giveaway needs to be unique.
Conduct giveaways in collaboration with famous influencers so that it reaches a wider audience. Give discounts to all participants so that they are encouraged to buy from you. Keep your selection of winners transparent so that nobody feels that you are partial.
Make your giveaway posts and videos attractive so that more people participate.
How to use IPL to your advantage
IPL season is the most awaited cricket tournament in India and abroad. Big companies like Swiggy and Zomato are using IPL to their advantage by giving discounts while ordering during specific overs of the match.
You can start your campaign on similar lines. Start a contest on Instagram and let people vote for which team they think will win. Based on the answers you can select lucky winners and give them prizes.
Other ways are by offering IPL merchandise like t-shirts, flags, and posters to customers who shop above a particular amount. Give free IPL tickets to people who participate in your contests!
There are numerous ways in which you can grow your brand during the IPL season. So start thinking before you miss this golden opportunity.
Giving 50% and 70% discounts doesn't mean that you need to incur losses. If you give discounts smartly both you and your customer will be satisfied. Some ways of doing it are-
Increase the percentage of discount with the increase in items bought. For example, if a customer buys 1 item give them only 5% off but if he buys 2 give them 10% off.
Increase the price a little before giving discounts. This technique is used by most big brands.
Give freebies along with every purchase. For example- 'makeup bag free above purchase of ₹1500.'
Give your coupons on mobile payment apps such as Paytm, PhonePe, and Gpay. These apps give their customers coupons after every transaction. If your coupon shows up chances are there that those customers might redeem it.
These are just some of the ideas. Be creative and excite customers with your discounts so that your sales boost. A sense of urgency should be created so that the customer feels that if they don't buy it, they will lose out!
These are some smart ways of utilizing your small budget and creating a big impact in the market.
Shimbi Growth Labs
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