Enthusiastic marketers dream of promoting their enterprises at the scale of the Superbowl halftime show. But one thing stands in the way — shoestring budgets. Bootstrapping is quite popular throughout the startup world, but most small businesses often get stuck on how to promote a B2B company on a zero budget successfully.
If your entity is operating on a small scale, you may want to try out these affordable marketing methods to get you the exposure you need.
Blogs have solidified their status over the years as one of the most effective digital age marketing tools. A recent study on Hubspot customers showed that businesses that blog have 126% higher lead growth than their non-blogging counterparts.
There’s a catch — you need to take advantage of SEO optimization and attract more natural traffic with posts that cover varied topics not limited to your product only. Another best practice is submitting your content as a guest blogger on news or bookmarking sites.
There’s no better place to display your expertise compared to forums relevant to your industry. Join the conversation and add value to discussions with professionals who are part of your target audience. Building professional relationships allows you to connect with your target audience and show them that you understand their pain points. It’s a much better approach compared to spamming people with links to your products.
While on the topic of building strong professional relationships, consider creating an affiliate program. The results from a recent study that indicated B2B companies with referrals experience a 70% higher conversion rate is big news for marketers. Many people may want to share your product with their audience; an affiliate program offers a good incentive for them to do so. A commission per client referred is a good arrangement that will benefit you in the long run.
Another highly effective low-cost marketing solution for B2B businesses is programmatic advertising. It is an avenue with endless opportunities for marketers on a tight budget. With the right demand-side platform (DSP) partner, you are spoilt for choice as you can promote your product on varying channels, including apps, websites, and CTV. A DSP enables advertisers to purchase displays in an automated fashion. The publishers list their ad inventory on a single marketplace, therefore advertisers and agencies can manage multiple data exchange and ad exchange accounts on one interface.
Start by partnering with a reliable DSP that can connect you to multiple high-quality traffic sources. Most DSPs either charge a small fee or do not have any platform fees at all - they add a margin to the ad placement cost known as a bid markup (customer’s bid - actual bid =. bid markup). Getting the basics of serving display ads to your audience won’t take you out of your budget.
The art of cold calling or emailing is still effective in attracting new business. Thanks to online directories and professional sites like LinkedIn, it has become easier to reach out directly to the key people in your area of expertise. You can pitch your product and propose a demo on how you can solve problems they encounter day-to-day.
A more personalized approach often characterizes a successful effort. Don’t be too focused on the sale but rather on how you solve that particular business’s issues. By building a relationship with the key people, you will convince them how much value your solution can deliver.
Social media plays a significant role in B2B marketing as well. Today, almost every business maintains a social presence to connect with its customers. As a small business, you can craft captivating content that will appeal to your target audience and leverage affordable native ads on platforms like Facebook or Pinterest.
You can also take advantage of influencers in your area of expertise to help promote a B2B company. Are you selling IT products? Get an influencer to review and advertise your product. This is an affordable strategy that links you directly to the influencer’s audience and can gain you qualified leads.
As you can see, there are several low-cost marketing options available to promote a B2B company. Evaluate the skills your marketing personnel have and make the most of these practices. You can place your brand directly in front of potential buyers without breaking the bank. Of course, there’s no quick fix for a meager marketing budget, but applying these ideas can have a significant impact on your brand’s performance.