Marketing on a small budget doesn’t mean cutting corners. Instead, it means being creative to find the most cost-effective solutions for your marketing goals. Effective marketing is a pillar of building a business, so here are 7 inexpensive marketing tactics for your small business. 

1. Give a class or host a webinar.

This one’s at the top of the list because, during this pandemic, many are home with the extra time that they may be using to learn a new skill or to entertain themselves. Classes and webinars can be used to create product awareness, remind customers of brand loyalty, and generate new business. Promote your classes or webinars to both existing customers as well as prospects. Classes can be free and purely promotional or given for a fee to provide an additional source of income for your business. The key to giving a class or hosting a webinar is to provide value to your audience, so although this tactic doesn’t require a large budget, it can be time-consuming to research and create these classes. 

2. Create a customer referral program. 

Word of mouth is one of the oldest and most tried and true marketing strategies for any business. Referral promotions benefit everyone and will keep your current customers as loyal supporters for your business. Your referral program should benefit everyone in the referral process. This includes your referral, referee, and of course your business.

3. Have a contest. 

Contests come in all shapes and sizes from product giveaways to social media scavenger hunts. Any contest should align with your business goals to create awareness or promote a specific product or service. A contest is perfect for a small budget and relatively easy to implement, but it could come with heavy scrutiny, so full transparency is required. The most successful contests are those where your audience is involved in a process of your company. For example, you could have your audience make a decision on a name for a new product. Also, be sure to check local laws regarding contests because there may be tax and other implications involved.

4. Increase and improve your social media presence.

Social media can be the best marketing around! If you’ve already mastered a social media channel try opening up a new one. Maybe you don’t have a Tik Tok and want to see how your business can benefit from the platform. Social media improves customer service, creates brand awareness, and allows your audience to see a more personal and genuine side of your business. Make sure to keep your information current and relevant on social media sites and don’t shy away from responding to your customers' comments. If there are negative comments, address them right away and make sure to use that as an opportunity to show your honesty and fairness to any potential customers. 

5. Collaborate. 

Collaborations take advantage of another business’s established audience and can include any kind of promotion or advertising. This partnership should be mutually beneficial and should have specific, measurable goals.

6. Solicit reviews. 

According to Bright Local, the average consumer reads 10 reviews before being able to trust a business. Getting reviews is a fast, easy, and inexpensive way to market your business. Most customers will leave a review if you ask them to, but you could also incentivize them to leave a review by offering them a discount on a future purchase. This tactic gets a review for your business and will also create continuing business with a current customer.

7. Support a local charity or group. 

Cause marketing has become so popular in recent years that Entrepreneur.com has called it “the norm.” It creates a positive association with your brand and the local community. Making a charitable donation may come with a mention in local promotions or event announcements, and it can also come with a tax deduction. You should also consider how your goods or services can contribute to a cause, or even have a portion of a product’s profits go directly to a charity.

As with any new form of marketing, be sure to track the metrics with analytical tools to evaluate the efficacy of a campaign. Try new things and experiment with marketing to increase effectiveness and reach new people. Marketing doesn’t always require a large budget, and getting creative with these 7 inexpensive marketing tactics is a great place to start.