Six Ways to stretch your marketing budget

1.     Hire the right person

Marketers come in all sizes and with myriad experiences.  Big marketing firms with brand name executives but what do startups do? Of course you are not a position to afford a big name executive but you can still hire a professional.  Consider freelancers and smaller marketing firms that are just as good and whose undivided attention provides skillful guidance which result in excellent results.  The important things for you is to do the necessary due diligence and ensure that the right person with the right skill sets are selected for the job.

2.     Use print advertisements for more than just space advertising

The artwork produced for the launch of your company’s new product or service may be used for much more than a placement in print.  Copies may be reprinted for distribution through various channels including; coupons highlighting specials and offering first mover discounts, direct mail for selected customers as well as it may be used as part of the company’s newsletter and E-mail listing.  These methods of distribution cost significantly less than a full print campaign in a local newspaper and reaches considerably more clients while providing a means of tracking the ‘pick-up’ on each method.

3.     Increase your Public Relations

Public Relations is the use of communications tools such as press releases, interviews and press or media conferences to provide exposure for your product or service.  A press release has a longer life in that additional story leads may be developed hence extending the exposure life of the product or activity.  Interviews done the right way can generate more interest and position the company’s spokesperson as an expert on a particular topic or idea.

4.       Maintain the relationship with existing customers

Maintaining the relationship with existing customers cannot be overemphasized.  Get feedback from customers for improving your product offerings and act in a timely manner to fulfill customer needs.  Also provide ‘special’ treatment for preferred customers so that they become spokespersons for your product and refer additional business to you.

5.       Use the web

Increasingly, consumers are shifting from offline to online portals to find information about products or services they intend to purchase.  A company’s use of online platforms such as its website and social platforms can increase knowledge of its product and allow the customer to compare with other like products and plan for purchases.  More importantly however, once the information is online, it can be reworked and resent as many times as possible without costing additional money.

6.       Collaborate with others

There is strength in numbers and two or three companies with similar objectives can reach a larger and wider audience with pooled resources than one single company with limited resources could ever do.  Most companies engage in what is called ‘brand/event identification’ where their brand is aligned with a product or service.  This kind of alliance provides brands with a wider reach because of commercial frequency, much more than a 30 second commercial could if it is within a regular marketing campaign.