Being a successful entrepreneur involves dedication and passion. It is, in some ways, like becoming a parent as oftentimes your business creation will be like your own child which you’ll do anything to ensure succeeds. The big difference is that it’s very common for startups to not make it past their first year.
Passion is crucial and makes the hard work enjoyable. But working hard is not enough if you don’t get the word around about the great things you and your team have been building. You can have the best product out there for the best price, but what good does it do if no one knows about it? That is why learning how to advertise and sell is imperative for a successful entrepreneur in a company where capital is still limited.
You don’t need to learn to do it yourself, as there are many marketing agencies ready to help you for the right price. Although a marketing budget will be essential in the long term, marketing should also be done organically. So don’t worry if you are starting out or don’t have a budget for marketing just yet, because here are the top 5 ways to market your business for free.
The first step is knowing your industry. Market research papers will help you understand who is your main audience/customers, who are the big players, and what is the size and trends of the industry. This information is invaluable, as it helps us get a better picture of where the business threats and opportunities lie. Important analysis and statistics can give us a big picture of the market and help us trace an effective business plan.
But that’s just the start. Sure competitor analysis is important, but why not share your findings with your audience and the press covering your niche or industry? It’s an organic way to get noticed and it is what should be considered a win-win-win situation. You get traction, readers get information and the media gets some good content. What more could anyone ask for?
Depending on which industry you are involved in and your marketability as an individual, becoming the face of your business can be the way to go. Instead of having a brand defined by a product or service, you and your expertise, become the brand. If done genuinely and with quality, branding yourself will lead to a bigger audience and more credibility. This, in turn, will lead to potential partnerships and business or job opportunities.
Ofcourse, regardless of how marketable you are, that will only take you so far. Your product needs to be just as good as your natural talents as a public figure. If you have these two things, the sky is quite literally the limit, as one perfect example of this is Elon Musk and companies like Tesla. We love teslas because they’re awesome and because the guy behind them is an oddity, to say the least.
Probably the most accessible choice for anyone reading as most businesses have one or several social media accounts. Every social media network has its own demographic (age group, gender, interests, etc), peak activity hours (which should be taken advantage of), and is tailored for a certain type of content and content format. Some social media platforms will suit your business better than others. Understanding which ones and how to properly engage with the audience are the secrets to managing social media successfully.
Your Company Blog
Having a website is like carving out your own space on the internet. But having a blog as a key part of the website is a whole different ball game. It has been reported that business to business (B2B) companies with blogs gain 67% more leads than those without a blog and that’s because your content will serve as a gateway for potential clients.
Creating high quality blog posts with regularity is one of the best ways, if not the best, to increase your online presence. It will increase traffic to your website and improve its ranking on search engines. In the long term, the building of a noteworthy blog will increase the reputation of your business and elevate you and/or your team members as industry experts.
Guest posts and Link building
Engaging with other bloggers or publishers is a terrific strategy. Guest posting on other blogs can be extremely advantageous and drive more traffic to your business. Link building is also one of the most important factors when it comes to SEO (Search Engine Optimization). You should not only have articles that link to other pages on your website, but also link to the most trustworthy and authoritative pages on the web to establish yourself as one of these figures which, if the content is good, you’ll become eventually.
Engage with the Internet
It is quite probable you’ve stumbled across websites like Quora before and we’ll use it as a good example. Quora is one of the places to go when looking for practical help, a question-and-answer website that covers a variety of different topics. With enough expertise and good timing, one of your answers can be voted as the best and drive people to your product if it is useful for the person asking the question.
It’s not too uncommon for answers on Quora and other websites to go “viral” within the platform and this can allow you to become an authority on that specific subject and to have a great deal of attention and traffic coming your way.
Know when to expand
The advice above should help you give you a kickstart to your business and promote the development of new ideas and skills. For those with an already existing business, some of the ideas here might be new and others worth revisiting, analyzing what is working and what isn’t.
As previously mentioned, a marketing budget will be essential in the long term if you want to take your venture to the next level but a dedicated in-house marketing team is not always the answer, especially when your marketing budget is limited. That is why you can count on Paradox Group to help you reach your target audience with marketing campaigns that can be as small as a $1,500 budget.