Low-Budget Marketing for SMEs
Posted: Mon Dec 23, 2024 9:16 am
companies (but not direct competitors) and organize webinars, online conferences and other virtual events together?
This is a low-budget marketing activity that can expose your SME to a new audience, while cementing your image as an industry leader.
For example, let's say you've developed a payments platform for software as a service (SaaS) companies. Why not host a webinar with cloud hosting, project management, and low-code development solution providers on "How B2B SaaS providers can maximize profitability during a recession?"
If each partner company promotes the webinar in their network, it maximizes the visibility of your SME. You can attract more customers and strengthen your brand.
Start a referral program
Customers trust product recommendations from friends and japan auto whatsapp number south africa family more than an advertising campaign. Use this to your advantage by setting up a referral program.
Image via Kantar - chart depcitating the regional impact of a referral program
Source: Kantar
Offer existing customers an incentive to recommend your product or service, such as a discount on their next order or a free upgrade for each successful referral.
A solid referral program has a positive impact on customer loyalty and sales without increasing your customer acquisition costs. One of the most successful examples of this is Airbnb 's referral program , which helped the provider increase the number of registrations and online bookings several times over.
Increase brand awareness
It is extremely important for small and medium-sized businesses to build a solid online presence and increase brand awareness. This low-budget marketing strategy will help you demonstrate your expertise and credibility so you can win over potential customers, employees and investors.
Whether you're posting informative content on LinkedIn or speaking at industry events, there are plenty of ways to increase your brand awareness. It's also a good idea to get actively involved in the local community , for example by donating to charities, organizing fundraisers, or attending local networking events.
This is a low-budget marketing activity that can expose your SME to a new audience, while cementing your image as an industry leader.
For example, let's say you've developed a payments platform for software as a service (SaaS) companies. Why not host a webinar with cloud hosting, project management, and low-code development solution providers on "How B2B SaaS providers can maximize profitability during a recession?"
If each partner company promotes the webinar in their network, it maximizes the visibility of your SME. You can attract more customers and strengthen your brand.
Start a referral program
Customers trust product recommendations from friends and japan auto whatsapp number south africa family more than an advertising campaign. Use this to your advantage by setting up a referral program.
Image via Kantar - chart depcitating the regional impact of a referral program
Source: Kantar
Offer existing customers an incentive to recommend your product or service, such as a discount on their next order or a free upgrade for each successful referral.
A solid referral program has a positive impact on customer loyalty and sales without increasing your customer acquisition costs. One of the most successful examples of this is Airbnb 's referral program , which helped the provider increase the number of registrations and online bookings several times over.
Increase brand awareness
It is extremely important for small and medium-sized businesses to build a solid online presence and increase brand awareness. This low-budget marketing strategy will help you demonstrate your expertise and credibility so you can win over potential customers, employees and investors.
Whether you're posting informative content on LinkedIn or speaking at industry events, there are plenty of ways to increase your brand awareness. It's also a good idea to get actively involved in the local community , for example by donating to charities, organizing fundraisers, or attending local networking events.