You need to spend on various aspects of your business if you want to succeed. You also need to identify how much you will allocate to each area. Your goal is to maximise the profits while minimising the overhead costs.
Marketing is an expensive part of the business, but you need to spend money to make it useful. If you cannot budget a considerable sum of money to promote your company, it does not mean the game is over. You can still squeeze whatever budget you have to come up with an appealing campaign.
Focus on existing customers
It is easy to advertise to people who are already in the fold. The goal is to retain their loyalty and ensure that they still choose you the next time. Once they stay loyal, you can count on them to spread the word to other potential customers and let them buy what you offer.
The good thing about referrals is that there is an assurance that you make a profit first before you reward the person who recommended your brand. You will not mind giving rewards to those who help spread the word and make your products famous.
Focus on improving your website
The website is the first place that people will visit if they want to know about your company, but they are not yet willing to buy. Make sure that the site has the content they need to feel convinced that you are the best choice. If you can change the website to allow people to make purchases right away, it will help improve your sales. The site needs to look professional and a perfect reflection of your brand. If the website is not yet mobile-friendly, you need to do something about it right now since you are losing potential customers by the day.
Study previous marketing campaigns
Instead of trying out something new, you need to focus on what worked in the past. You cannot yet take a risk since you have a limited budget for marketing. You can try something new in the future if you can risk losing profits should the campaign fail.
Spend money on social media ads
Social media is a useful tool for marketing, and several companies can prove that. It does not mean though that you will rely on the free platform for advertising. You need to pay to maximise the popularity of these sites.
Do not forget offline marketing
You can still spend money even if your budget is not big. You cannot forget offline marketing. Invest in posters, brochures and flyers. Find companies with the best banner printers so that people will appreciate the print media platform that you use for advertising.
It is a problem not to have enough money for advertising, but you can do something about it. Do not whine about the situation and focus on what you can do to boost your business despite the situation.