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Doing it cost no money, yet

How to market mid-size retail companies with no budget

The one thing I hear from most startups, is they need more money to grow and get users. I would argue this point all the time, and my response to them is if you get this money right now, how will you grow? Most of the founders don’t have a plan or have not done enough research on who their targeted customer might be. Which essentially leads to a huge waste of funds when founders start marketing.
Every company needs to market to attract customers, increase sales, and be competitive. However, many small business owners have a difficult time knowing how much money to spend. According to Gartner, Inc., the marketing budget increased from 6.4% in 2021 to 9.5% of the company’s total revenue in 2022. Marketing budgets have increased this year but continue to lag behind pre-pandemic spending levels.
Meet Maya AI marketing with no budget

Most people perceive that marketing is spending money on ads or some sort of sponsorship. It’s part of it, yes, but more importantly, it’s about the messages. Let’s dive into some of the trends of marketing without a budget and what that ROI looks like:

The rise of brand-building techniques during inflation

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  1. 59% of marketers are relying on brand-building as it gives a 34% increase in ROI rather than traditional ads. It gives more trust in the brand and product. According to Inc. Magazine, 96% do not believe advertising content is true. The content seems too perfect when according to Mckensy saying that modern philosophy is recognizing nothing is perfect.
  2. Involves word-of-mouth marketing which is 56% effective when influencing consumers to purchase products
  3. Being authentic shows that mistakes. People are reacting to more videos that show something with a realistic effect. As mentioned above, since consumers realized the facade of perfection, they are more entitled to relate more to mistakes.
  4. More than 55% of B2B buyers look into the brand building to grow their presence or leadership space. 75% of adults are happy with what they see when they search for their name on Google.
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Effective strategies to use

  1. Sending promotions to your current customerrs
    • 54% say they like to receive updates and promotions via email (such email). This makes sense when you think about it. Does anyone hate receiving specific things like coupons, discounts, etc. instead of receiving short-lived ads via email? This cost no external money at all; send promotions to your current customer list.
  2. B-roll video will be a vital component
    • Brand building is a focus on the person who is representing the brand. Taking more b-roll videos will increase your awareness on channels while bringing your product into action. Ask yourself, what would you rather do, watch the product in action or read and imagine what it does.
    • Consumers want something clear and relevant content. However, many campaigns lack a consumer’s overall understanding. This keeps consumers away who don’t understand what the product is or how it benefits them.
  3. Get involved with your community/ local events
    • Nothing is better than getting direct access to potential customers. These communities will not only help you out, you need to help them out as well. The power of community building is getting the potential customer from members or access/ connections to them.
  4. Free listing, awards application
    • There are multiple free listings that you can use to show off your business. Besides social media, public community listings can give a boost in SEO and awareness to customers.
  5. Join different affiliate programs that are similar to your product value.
    • Another source of revenue can come from affiliate marketing. Find a business that offers products/services that can benefit customers along with your product/ service.
  6. Be a blog commentor
    • Another way of getting visibility is providing valuable/relevant comments that will get the blog conversation hyped or continual. Visualize a fan always commenting and giving compliments on certain things. That fan begins to stick out and become noticeable in all avenues.
  7. Build a Referral Program
    • Creating an affiliate program essentially turns your customers into a marketing department. You don’t spend marketing money unless they first make a sale on your behalf.

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