Cost-effective Ways to Promote Your Product

 Cost-effective Ways to Promote Your Product

Are you starting an online business or thinking of it, but you’re not sure where to start when it comes to promoting? Or perhaps you have a brick-and-mortar shop, and you’re looking for new ways to promote your offerings online as you move into e-commerce? What are the cost-effective ways to promote a product?

Welcome to the wide, wide world of digital marketing where you can share information about almost anything, anywhere, without spending a ton of money. But beyond basic social media activity, what are other ways to urge the word out? Read on for some simple strategies.

Referral Marketing

Referral marketing is basically just another term for “word of mouth” advertising. In the past, it would have been common to open up a store in a small town, pass out flyers and hope and pray that locals actually chose your business over the competitors. Of course, that still happens sometimes, but now more people are doing much more research online, using social media and reading reviews before making a purchase.

The truth is that people trust their peers over brands – and sometimes they do this without even knowing it. For Instance, on the off chance that they promote something on their online networking page, they’re basically going about as brand ministers. According to Nielsen, peer referrals make people four times as likely to make a purchase. The Wharton School of Business claims that referral customers have a much higher conversion rate and customer lifetime value than other types of customers.

It may seem obvious that people are more likely to trust friends and family over anonymous advertisers. But also falling into the scope of referral marketing is news stories, testimonials, influencers (e.g., social media celebrities or bloggers), as well as customer reviews. Yes, those reviews that you read before buying a product on Amazon or trying a restaurant on Yelp go a long way and so long as they’re positive, they basically act as free advertising.

Influencer Marketing

Influencer marketing is just one facet of referral marketing. Influencer marketers are people that have built a name for themselves on social media, but sometimes they are people who already have clout (e.g., movie stars or entrepreneurs) and continue to make themselves visible in the digital landscape for instance, via promoting products.

When you connect with an influencer and get them to promote your product, you automatically tap into a huge audience. And if your partnership is an even exchange (that is, you don’t need to compensate the influencer), this is an extremely cost-effective means of promotion.

That being said, we can use the influencer marketing framework as a good example of why referral marketing works on social media. People follow celebrities or other types of influencers (let’s say yoga teachers) on Instagram because they’re not only interested in the people, they’re interested in a specific activity. So, if you find someone with a big following that is brand- or product- relevant, it’s possible to join forces and create a partnership that also benefits the other arty.

You can also use influencer marketing in innovative ways to promote charities. Omaze is a perfect example of a company that uses “meet a celebrity” influencer marketing campaigns to raise money and awareness for charities. In this way, combining referral or influencer marketing with something that appeals to the emotions – or a cause that someone cares about – when it’s brand-consistent, can be an extremely effective way of getting people’s attention on social media.

Email Marketing

Email marketing is used as a primary customer acquisition strategy by companies across several industries. In a time when social media, memes, videos are ruling the digital space email has managed to retain its position as a powerful marketing tool.

Most emails related to product advertisements and sales offers tend to end up in the spam mail of the users. Thus it becomes a challenge in developing email campaigns that are appealing and communicative like other marketing tools such as social media. It is the most direct possible way of connecting with leads, turning your leads into customers, and promoting your products or service.

Email marketing trends have changed with time here’s a list of some of the best email marketing tips and tactics.

1 – Manage and build your email list.

Before you start emailing your target audience, please do a detailed res earch for your email list. Do not add anyone randomly to the list. Select people who have a strong relationship with you, who trust you, engage in your emails and are interested in your products.

2 – Valuable content is a must.

For achieving your business goals Engaging your customers with your emails is crucial. Sending relevant content, using catchy subject lines, and studying the email marketing strategies that benefit your competitors, using customer feedback are few ways in which you can get the attention of your subscribers.

3 – Don’t shy away from experimentation.

From subject lines to the email content, to call-to-action make sure that every aspect of your email is always A/B tested, this will help you understand what your customers relate to most.

4 – Build Relationships.

Always remember that email marketing is not about selling your products. Instead of focusing on selling your products, build meaningful relationships with your customers. As a consequence, you gain their trust, and that establishes you as the authority in the business which leads to an increase in brand loyalty.

5. Have professionalism

Poor typos and grammatical errors reflect poorly on your business. Make a copy andt use a voice that identifies with your brand. Draft a planned outline and proofread it.

6. Know your target audience

Before you start emailing make sure you do a thorough research of the following factors – that are the unique activities that set them apart from the general audience, the time and manner of communication they prefer, and the jargon that may resonate with them. Also, it is very important with the right audience you should be able to categorize customers based on age, geographical location, and gender.

7. Proper call-to-action

Once you successfully capture the attention of your target, Make it clear whether you want them to visit your website, subscribe to your emails, visit your online store, or like your social media channels.

With the right kind of email marketing strategies and tips, even the smallest of businesses can attract relevant customers and get enormous benefits. Use these tips to boost sales, acquire leads, and make the most of your email marketing campaign.

Affiliate Programs

Affiliate programs are a great way to get the word out about your product or business without spending too much money. This is essentially commission-based selling, we’re an affiliate (like a blogger) will promote your products and earn money when they make a sale or sometimes when they perform some other type of action.

What you’ll do here is create a URL for everyone who is promoting your stuff and then they can share in their own feeds.
In order to get started with an affiliate marketing plan, you’ll have an account set up with a specific affiliate marketing website like Clickbank, where affiliates will apply to promote your product. Customers click on the link on their site and they are able to purchase your product.

This is one form of free advertising and can be a useful way of getting the word out about your brand, but there are a few things to keep in mind. First off, this works better for some products than others, and it may only be worth it for a lot of affiliate marketers if they know they’re getting a decent commission. Second, you have to make sure that your affiliates are genuinely excited about a given product and will be consistent about advertising, as well as advertise it in the right way.

Lastly, the person doing the marketing should already have a decent following and understand the basic principles of how to promote a product in such a way that it leads to sales.

To know more about Email Marketing Click Here

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Facebook Ads-Things You Should Know
August 26, 2020

[…] are the voice of the customers, promotions are the voice of the organization. Advertisers make the promotions, controlling its substance and crowd. Advertisers can make standard (promotions assail the […]

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