In the world of startups, every dollar counts—making the most of limited funds is a challenge almost every founder will face. Marketing budgets are typically one of the first things to go, but without building your brand there’ll be no business to run.
With that in mind, here are some simple ways to keep your marketing efforts alive without breaking the bank.
1. Network—but do it strategically
Leverage your network, because it’s one of your most valuable assets. Your inner circle is a valuable and trusted source for help and moral support, but most of them don’t need to hear the daily “play by-play” of your progress. Be considerate with your outreach and save those valuable “asks” for when they’re really needed. Spend time looking at your network and map out who you might need and when. Then create an outreach strategy that will give you the maximum amount of goodwill with the minimum “favor fatigue.”
2. Leverage your adorers
You’ve built relationships with customers that love what you’re doing—use this to your advantage. If treated properly, they can be your biggest brand champions and your most efficient customer acquisition channel. Word of mouth is both free and effective. Your customers are probably talking about your company anyways, so direct the chatter in a way that benefits your bottom line. And rewarding customers who talk about your product can be simple and inexpensive.
3. Build a strong team
You’ve already got a free resource right in your own office. Employees can be fantastic brand advocates, both inside the office and out. True employee ambassadors are created when they feel that they have a stake in the product. Make time for your team to provide input, and respond to what you hear. When employees share a sense of ownership in the company, they’re more likely to play an active role in promoting it authentically, which can be more valuable than a 30 second primetime TV spot.
4. Forge smart partnerships
Partnering with like-minded companies has benefits far beyond access to new customers. Working closely with other businesses provides insight into customer acquisition channels, marketing ideas, and execution strategies. Learn what you can and repeat it with your own marketing programs.
5. Do what you do flawlessly
Cutting corners can be tempting. We occasionally hear “it’s just not a priority,” as an excuse for poor execution. If it’s worth doing, it’s worth doing well. First impressions happen early, and you only get one. Shortcuts and lazy mistakes aren’t worth the price you’ll pay in how customers evaluate your brand.