How to Maximize The Reach Of The Promotional Mix On A Limited Budget
Each business must consider its market, budget, and opportunities to prepare the right promotional mix to reach customers (02). Strategies to ensure you maximize the reach of your promotional mix on a limited budget include:
- Knowing your target market: These are the individuals that either need or would benefit from your product or service. Hence, understanding these individuals’ attitudes will help you develop the right promotional mix that reaches them (02). In general, forget the mass market and go for small niche markets (03).
- Piggyback your partners: It makes sense for small businesses on a limited budget to partner with other complementary businesses. For example, manufacturers, suppliers, and vendors (01). Businesses can surely leverage the marketing of their partners to maximize reach.
- Create valuable content: By creating search engine optimized (SEO) content, organizations can undeniably generate organic advertisements. With great content that answers your product or service questions, you create long-term value and traffic that surely maximizes the promotional mix’s reach on a limited budget.
- Leverage scalable advertising channels: With many options to choose from, including social media, free online advertising, or other cost-effective methods such as Google and Facebook ads can maximize your reach. Also, use different strategies to get your business feature by the media to get free marketing (01).
- Maximize referrals: Enhance customer experience, and surely a satisfied customer will give you free advertising. Therefore, spend time getting customer referrals and leveraging word of mouth marketing regularly (03).
Check the following reference articles to learn more on how to maximize the reach of the promotional mix on a limited budget
- Dunn, C. W. (2016, December 13). 8 Powerful Ways to Market Your Business on a Limited Budget. Entrepreneur. URL
- Kokemuller, N. (2016, October 26). How to Reach Your Target Market Via a Promotion Mix. Small Business – Chron.Com. URL
- Zahorsky, D. (n.d.). 5 Low-Budget High-Impact Marketing Techniques That Make a Big Impact. The Balance Small Business. URL
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