8 Low-Cost Ways to Promote Your Business

By Jessica Alex

According to a survey conducted by Databox, 52% of small business owners and marketers are spending between $5,000-$15,000 per month on marketing.

But perhaps you’re not at that stage where spending $5,000 a month on marketing is even feasible. If you’re looking to promote your business in a more cost-effective way, here are a few ideas you can try out that don’t have to break the bank!

Note: Before you try any of these marketing tactics, it is important to understand that whatever you decide to do, there should be purpose and intention behind any action you are taking.

Have a goal (for instance, increased sales, brand awareness, prospects added to your sales funnel etc.) and an overall strategy in place so that you can execute your marketing tactics effectively.

Without further ado, here are eight low-cost ways to promote your business!

1. Host a giveaway (of your product or service)

Build interest and intrigue around your product or service by doing a giveaway online. This tactic can help with increasing brand awareness, by helping people to learn more about what you offer and the winners are able to try your product or service out for themselves. When you host a giveaway on social media, it gives people a chance to share your post with others or tag their friends and colleagues to join in on the giveaway, which means more people learning about your brand!

2. Email marketing

When done right, email marketing offers a great ROI. According to Litmus, for every $1 spent on email marketing there is an average ROI of $36 — that’s 3600%! There are many benefits to having your own email list, and it's a tried and true way to communicate with your audience. Compared to other traditional marketing tactics, email marketing is on the more affordable side of the scale.

For more tips on email marketing, check out this article, 3 Reasons Why Your Business Needs an Email Marketing Strategy.

3. Social media marketing

Social media is a great way to promote your business! Knowing who your target audience is and finding the right platform(s) for your target audience, can go a long way. For starters, it can help to make your marketing efforts more effective because you'll be where your target audience is. Then it's important to create strategic content that your target audience would be interested in. Platforms like Instagram and TikTok are user-friendly and like most social media platforms, are free to use. You can create campaigns to help boost your brand awareness, collaborate with other brands, host a giveaway and leverage user-generated content. The possibilities of what you can do on social media are plenty, and don't have to cost an arm and a leg.

Note: Don't get caught up in vanity metrics. Lots of views on a post doesn’t always mean lots of customers. Lots of views can sometimes mean increased brand awareness and that a piece of content may have gone viral, but the work doesn't stop there. Continue to consistently provide valuable, interesting content to keep your audience engaged and wanting more.

4. Write & Blog

You can create your own blog relating to your industry or products, which can help your website’s SEO by having fresh content on your site, and bring in new visitors. But guest blogging and writing articles for other websites and reputable publications is another way to help promote your business because it helps to get your name out there via a third-party platform (and it is an opportunity to showcases your expertise).

5. Offer freebies (samples or guides)

Sometimes people want to test things out before they decide to buy. Offering a free product sample (even if it’s in addition to the purchase of other products) or a free trial to test out your monthly subscription or a free downloadable guide that provides value to your prospects, is a great way to promote your products or services.

6. Host a virtual event

Whether it’s an Instagram Live or Zoom event, host an online event where you are providing valuable information related to your industry (for instance, if you have a sustainable home goods brand, hosting a webinar or Instagram Live on '3 Ways to Make Your Home More Sustainable.' You can even make it interview style and invite an expert to participate). Or you can create a virtual experience around your product or service.

7. Start a podcast or YouTube channel

Creating a series around your brand or industry is another way to promote your business. When done right, it can help boost you as an expert and it can be used to create excitement around your brand and all that it has to offer (without coming off as too “salesy"). The key is to provide interesting and engaging content for your audience. They should either walk away feeling like they learned something new, or they should feel entertained. Either way your target audience should be provided with value.

8. Leverage User-Generated Content

User-generated content is low-cost and a great form of social proof.

“Social proof is the idea that consumers will adapt their behaviour according to what other people are doing.” –– Sophia Bernazzani, HubSpot

When your actual customers leave testimonials and reviews of your product or service, it can entice people to learn more about what you offer and even make the purchase. Use client reviews to your advantage, whether it’s a video or photo posted online, or a review left on your website by sharing these types of content on your social media or newsletters.

To learn more about how to use user-generated content, download The Ultimate Guide to User-Generated Content for free!