Business Strategy

Implement An Affordable Marketing Strategy When Starting Your Business

Things To Keep In Mind When Starting A Marketing Strategy With Minimal Expenses

One of the hardest phases of a business is in the initial establishment period when there is overwhelming pressure on the entrepreneur to get it right and start on the right foot.

Everything from getting the paperwork organized, to hiring an accountant and managing inventory. Let’s not forget the pressure and expectation of keeping your finances low at least in the first few months when you’re just entering the market.

One of the toughest expenses your business will face apart from taxes and outsourcing services is marketing. You definitely cannot run a business without a proper effective marketing strategy.

However, you want to be mindful and wise when it comes to implementing affordable or better, free marketing strategies, at least during the early stage when you are juggling so much.

Here are simple marketing methods and strategies I rely on that reap good results and bring in consistent monthly sales:

• Keep in mind that you want to minimize the costs as much as possible, so take the time to focus and research effective free or affordable marketing tools to use.
• Focus on three main elements in your marketing plan: design, content production, and analytics to perform market segmentation. This is all you would need to start an effective marketing strategy that will bring you the exposure and engagement needed.
• Brainstorm your goals for each of the three elements and research some tools that could be handy in easing your marketing efforts.
• As an example, for my KDP publishing side hustle and Redbubble store, I started with a premium Canva account, totaling 11.99€ per month. This was crucial as Canva allowed me to achieve multiple marketing goals, including easier content creation, publishing, and exporting as well as professional design using ready-to-go templates for all major social media. It was a win-win situation and three years later, Canva is a tool I am never willing to give up as it saves me money and time. Super tight on your budget? No worries, simply use the free version of Canva and it’ll serve the purpose, but with less customization.
• Look for versatile tools that have features that you require, and that is easy to use so you do not waste hours searching in the troubleshooting section.
• Another great analytics tool I use is simply google analytics which can be easily installed onto any website and it will give you up-to-date free tracking tools to monitor your customer’s engagement.

Resources:

For a full list of free marketing tools, check out this page below: