Growing your Business organically with low-cost Marketing Techniques
The global economy has evolved at a considerable rate in recent times, creating positive business sentiment and growth around the world. There have been signs that this has begun to fade in recent times, however, with British firms reporting a decline in financial confidence and the International Monetary Fund (IMF) reducing its growth forecasts for multiple countries.
In an update to the widely published World Economic Outlook (WEO), the IMF amended its previous growth forecasts in four of the major G7 nations. These included the U.S., the UK, Japan and Canada, while the global forecast was reduced from 3.5% to 3.3% for 2015. These statistics underline the fragile nature of the global economy, and reinforce the need for brands to spend and grow in a responsible manner.
How to Develop your Business in an Organic and Responsible Manner
This is easier said than done; however, especially as business growth trends can fluctuate in line with the wider economy. Marketing provides a fluid and flexible channel through which you can promote and expand your business venture, however, without spending considerable sums of money or risking long-term growth. For example: -
Invest in Low-cost, high ROI Advertising Opportunities
Historically, the process of marketing premium products and services was underpinned by the procurement costly television advertising slots. This significant investment did not always deliver a viable return, however, especially in the days before CRM management software and targeted consumer profiles.
This has changed since the turn of the century, however, with entrepreneurs now able to advertise across multiple mediums that enable them to reduce costs and drive a higher ROI through targeted messaging. From VOD (video on demand) to globally accessible Facebook ads, it is now possible to create a measurable and integrated campaign and that optimises reach through multiple platforms.
The fact that this can be done while also lowering costs in incredible, and central to long-term profitability of ambitious firms.
Create a Culture of Mobile Branding
Given that the ROI of an advertising campaign is easy to measure against its original cost, it provides an obvious target for controlled cost reduction. While the same cannot be said for less conventional marketing methods, however, these often offer innovative solutions that can reduce costs and optimise returns.
By creating a culture of mobile marketing, for example, you can empower existing business assets and reinvent them as branding tools. Your mobile fleet of commercial vehicles is an excellent place to start, as those with ownership of each individual vehicle can affordably brand these assets and create an iconic, mobile presence. Just be sure to create a budget that is cost-effective and viable, especially when measured against the factors that will determine your insurance premiums.
Another invaluable mobile asset is your employees, who can play a pivotal role in cultivating a culture of proactive marketing and branding within your firm. By educating each staff members on the core brand values of your business and ensuring that they engage with these, it is possible to promote them organically and through real-time conversations. The same ethos can be applied to social media, where employees who are engaged and in-tune with the brand communicate directly with customers.
Turn your Customer Service Department into a Proactive Marketing Asset
Back in 2012, business guru Seth Godin encouraged business-owners to alter their perception of customer service and embrace this as ‘a scalable way to delight’ their customers. With this philosophy, it is possible for businesses to drive more efficient, real-time marketing efforts without significant investment.
While customer service is often seen as a challenging but necessary aspect of business, it in fact offers proactive entrepreneurs the opportunity to communicate with customers when they are actively engaged with the brand. Whether they have previously experienced a positive or negative experience, the ability of customer service staff to swiftly resolve issues, exceed expectations and organically market the brand is potentially invaluable.
This is far more impactful and potentially more profitable than traditional marketing campaigns, as your brand already has the attention of customers and is engaging in emotive conversation when they take the time to contact the business.