10 Ways to Create a Marketing Plan on a Shoestring Budget

You may not consider yourself a marketing expert but the success of your investment business will depend on how well you implement a marketing plan. Even if you’re just opening your doors, learning to market on a shoestring can help you keep your brand and your company in front of your target audience without going broke in the process.

1. Learn all you can. Read and study marketing books, articles, blog posts and anything else you can get your hands on that teaches you how to market and promote your business both online and off. Stick to the many free resources available until you start making some money.

2. Understand your target audience. Who is your ideal customer? Where do they hang out? What do they like to do? Knowing the answer to these questions and more will help to set your pricing and get your message to them quickly.

3. Research your competition. Understand your competitors, how they market and the message they use. Take their marketing strategies and learn how to make your message better. Fill in gaps they leave in meeting customer needs. There are dozens of helpful online tools you can use to help you find information about doing this type of research.

4. Create and use a Unique Selling Proposition (USP). What do you do better than anyone else? Or what is it you want to be known for? That’s your USP. Write it down and trim the fat until you have a short, one-line statement that you can use everywhere you go.

5. Get social. Twitter, Facebook, LinkedIn and other social network sites can help you interact with customers and prospects in a variety of ways. Use contests, feedback, games and more to add interest and create buzz for your products and services. Remember that these sites work best if you create relationships with people rather than just promoting your business.

6. Try something different. In addition to sending out news-worthy press releases to your local and online media outlets, think “outside the box” about ways to get your name recognized. Consider offering prizes for drawings on your local radio stations or sponsor local contests that are well-publicized. If your target market has any kind of networking events or will congregate at your local county fair or community day celebration, make sure you’re there with a booth so you can meet them. The ideas are endless when you begin to think creatively.

7. Mix up your media. Podcasts, videos and text all attract visitors. Some clients prefer one method over another, so offer all three. Videos don’t have to be long or expensive, but they can dramatically increase your website visitors. As can podcasts that offer helpful information your audience wants.

8. Ask for referrals. Add graphic and text links to your blog and website that say “Follow us on Twitter” and “Friend us on Facebook.” And when you speak to someone either face to face or on the phone, always ask if they know anyone who might be interested in your business. It’s always easier to call someone saying, “Joe Smith thought you might be interested in my property,” as opposed to doing cold calls.

9. Go mobile. Cell phone ads offer some of the most effective advertising options available right now, much more so than simple Internet banner ads. Connect with customers through their phone apps and you can’t go wrong.

10. Email marketing is not dead. Offer a reason for your website visitors to give you their email address so you can stay in touch with them regularly and you can continue to send your message to them at no charge as long as they stay opted-in.

Marketing on a shoestring budget isn’t difficult but it does require some creativity and effort. Step into your customer’s moccasins and discover what it is that will make them buy, then offer it to them. Nine times out of ten, you’ll be amazed at how little it costs.