Startups often times do not have huge investments from angel investors like many movies might suggest. The funds can come from a few investors or from a personal fund that the founder has saved over the years. Promotion of the business can begin to get quite expensive if budget is not kept in mind. The last thing a company wants to do is to overspend on promotion and fail to get the exposure that they had hoped for. For this reason it is important to start out with budget friendly options so the startup can get data on the ROI for each tactic. The following are tips to promote a startup on a budget.
Don’t Count Out Social Media
Social media has a few great platforms where it is free for a company to promote things they are doing. This is also the opportunity that the company has to engage with followers and others in their specific industry. Garnering a following of those in the startup’s target demographic will take work but it will make it easy to promote content or spark conversation. Building a sense of community among the followers is important as people could come to the social media accounts to debate in the comments. Social media can help with promotion as well as can help establish a company’s name in a niche.
Conferences Have a High Density Of Relevant Prospects
Going to a conference can be a great move for your startup as their will be a high concentration of potential clients. For this reason it is important to represent your startup in the most professional way possible. Finding the right printing services is imperative as poorly done posters or brochures for the company can reflect negatively on the startup as a whole. Collect business cards and write down specific details of the conversation that can allow the person to remember your face when you follow up with them via email the next week.
Find A Freelancer To Create Engaging Content
A startup hiring a freelancer to create engaging content both on and off of the website is important. This type of content can be used as a resource and educate potential customers as to why they would benefit from the product/service the startup provides. Hiring a person in-house to do this often times will be more expensive without guaranteeing results. You can hire multiple freelancers to see which produces content that drives traffic and shares. Pick the one that is the most successful and aligns with your brand’s voice. Podcasting can be a great way to share content without having to shell out cash for it.
Partner With Local Businesses
Taking the time to partner with local businesses can allow a startup to make a name for itself in the local community. Find businesses that it would be advantageous to partner with or those that are quite popular in the area. A great example of a partnership could be a restaurant that gives patrons a discount if they are staying at a particular hotel or rental property. Even something as simple as being able to keep brochures or promotional materials at a local business and you doing the same for them can be a difference maker.
As you can see your startup does not need to have huge amounts of money for marketing and advertising to thrive. This will just take a bit of creativity in order to compete with those companies that might have more cash flow available. A small budget with a great strategy can beat a large budget with a below average strategy and this is something to keep in mind!