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Can Less be More? In Marketing, Yes!

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Most marketing professionals will vouch for the fact that high-budget marketing is not always high-impact marketing. Marketing does not necessarily need big money but it needs the right techniques to reach your target audience with the right message. Low-cost marketing techniques are equally effective in creating good brand recall among customers and making them stay loyal.

There are only few things more creative and interesting than marketing. Any Tom or Harry can take out big bucks from his pocket to create noise about his product or company in the market. But the real challenge lies in finding out ways to maximise results out of every penny you spend on your marketing plans. Low-cost creative marketing initiatives can generate longer lasting results for your brand than expensive and one-off marketing tactics like TV commercials, radio ads, hoardings, and others that eat away your money even before you realize where it went.
Here are reasons why high-cost marketing does not always give desired results:
  • High cost marketing does not always translate into high-impact marketing. Thus, spending more on marketing will not always bring increased sales.
  • High-cost marketing leaves less scope for marketers for repeated messaging. Marketers have to repeatedly talk to potential customers to convert their knowledge of product into sale.
  • High-cost marketing like expensive ads usually target the mass market. Why spend your dollars on trying to influence people whom you don’t want to sell?
Through low-cost marketing, marketing executives are able to sustain their marketing plans. It leaves them with a comfortable budget to repeat their messages and use different marketing channels to stay in minds of their consumers for a longer period. Here are a few low-cost marketing techniques to help marketing professionals maximize their marketing spend:

  • Know your customer base well and only target the right customer. There may be 20% of customers that give you 80% of your revenues. It’s easier and cost-effective to target this 20% rather than reaching the entire population.
  • Customer referrals are the cheapest and a highly genuine way of spreading good word about your product and company. Your satisfied customers can do wonders for your good reputation. Make the most of them to get customer referrals.
  • Emailers or direct sales letters are very effective tools to connect with your customers. Use direct language in your letters and keep them short and to-the-point. Preferably use testimonials or customer endorsements to help your potential customers develop confidence in you and choose you among other providers.
  • The biggest win for any marketer is to keep his old customers happy, satisfied and loyal to his product. Never take your customers for granted and constantly show them your appreciation for using your product. Keep in regular touch with them through letters and exclusive offers for them.
  • Guarantees and trial offers are great to bring in new customers. Product guarantees give a sense of no-risk to new customers and reduce their decision time to buy your product. Trial offers, on the other hand, motivate your customers to try your product, build confidence in your product and make them your loyal customers.
Conclusion: Let loose your creativity to market your product and company; it doesn’t always call for a big sum. Intelligent marketing techniques allow even smaller businesses to increase their customer base and revenues within a small marketing budget. Above all, it’s more exciting to spend less and earn bigger results from your marketing initiatives.
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Popular tags:

 sale  tv commercials  potential  plans  Harry  customer base  customers  Budget Planning  techniques  noise

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