How to build a brand at an Affordable Cost?
Are your brand-building efforts keeping you awake at night? We sure know that feeling.
According to a statistic, close to 90% of customers stay loyal to a brand, which shares it values. So, how will you communicate your brand value to your customers especially with your limited budget?
Let’s find out!
Employ Unique Strategies to attract Customers and Visibility
Out of the box, thinking has always attracted new customers to try out a brand, which is fairly new in the industry.
Just like the scheme of the Referral Program worked wonders for Uber or the free ice-cream flavor on the 1st of the month worked for Baskin Robbins, unique ideas sell and create brand engagement.
You can think of smart yet pocket-friendly strategies to attract customers – like a freemium model to push a new product in the market or an amazing social media marketing influencer-based campaign to promote these products. Giveaways combined with competitions can also be a great pick as they indirectly promote word of mouth marketing.
You can also use digital business cards instead of paper business cards to ensure that your contact is not thrown away. Plus, digital business cards also reduce costs and help you share your social media channels along with your website link.
Look for Collaborations with other brands in different segments
Collaborations are a healthy way to spread the name of your brand and reach out to the masses easily at the price of another brand’s marketing channels. This way, your product, and services can reach out to the relevant target audience with the efforts of a brand that is in a different segment but has the same clientele.
Just like a coffee house and a good bakery can collaborate for the launch of newer desserts or a premium range of coffee. Similarly, you need to pitch for brand collaborators who help you promote the product easily in the initial days.
Customer Experience and After-Sales Service Matters
When Apple Inc. had just started out of the garage, it did not have deep pockets. Yet, the only thing that helped it become what it is today was the quality of products and the loyal customer base. Hence, if you want to create a brand, you will have to think about the end-users.
With a great customer experience comes good feedback, powerful word of mouth, and amazing after-sales service – all of which together lead to brand creation.
A recent study showed that 73% of customers love a brand for the helpful service. So, if you want to excel in this field, your teams should be equipped with the correct customer background to help solve their issues and manage their expectations.
Use Social Media to its fullest capability
Social Media is the most economical channel for marketing activities. Although the initial investments may seem too much when it comes to paid promotion, still, you can take time and build your brand completely organic as well.
Many brands use social media to form an opinion about their brand and drive them to the website in hopes to convert them into customers. They use strategies, polls, stories, and even reels to interact with the follower base. As the interaction increases, it leads to potential customers converting into end customers.
Did you think of an advanced CRM tool?
An advanced CRM Solution can be a great answer to build a brand with limited funds, as CRM helps in the retention of customers. With a CRM tool, your woes of human errors get reduced as the automated aspect helps in easier coordination with customers.
It also helps in making a customer feel special, and the approach is also customized. Many of the smart solutions come with AI and Machine Learning induced structure, which helps in business forecasting.
Make sure your website is updated
A website is a very important branding tool for small businesses. With the advancement in tech, you can also build your website all by yourself without any technical knowledge. This has become possible through various easy-to-use website building tools available at minimum prices.
Digital marketers also use tools to collect information about customers and then target them through social media advertisements. You can have unique call-to-action buttons on the website, which will drive purchase action or get redirected to the social media handles.
In the end, remember there are various ways in which you can build a brand with budget constraints. But nothing will work unless you have the desire to achieve.