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Don’t let a low budget put you off setting up your own business. There are economical ways you can get on the market as long as you have the know-how. Here is some basic advice to help you get started.
Define your product
Pay attention to detail when creating your brand. Decide on a clear representation of your product. Don’t try to tick too many boxes, it will be more memorable if your business serves one clear purpose. The more specific you can be will make your product more eye-catching and original. Go with one main focus when approaching your marketing, think about your niche, who they are, and what they need. Spend time thinking about these details rather than money on making your product too flashy.
Do your research
Research your competitors and the market thoroughly. Listen to your current clients’ feedback. Collate all the information and figure out what your next step is to improve your sales. This can be done without expensive market research, but just through networking. Ensure you maintain a strong presence on social media and keep in contact with clients.
Keep things in-house for now
Later when your business is more successful and you can afford to, it’ll be time to outsource. At the beginning it’s better to get things done yourself. Keep outsourcing to a minimum and you’ll save money on services and contractors. Do everything within your original employees.
Social media is key. There are more than one billion active Instagram users per month and 70% of customers look up the brand they’re interested in on the app. You can find more about Instagram stats here if you’re interested. Stay active on LinkedIn for networking purposes. This the most foolproof and free way to spread the word about your business.
If you have more money to spend, think about setting up an affiliate programme. This will allow you to create greater online presence for your company. It will be well worth it in the long run. Facebook ads are also a good investment. If you haven’t already, set up Facebook Pixel and this will allow you to run ads on Facebook for a fee.
Blogging is the most cost effective way to successfully market online. Create your own blog for your business or product/service. Be sure to add plenty of activity and information. Use technology to create video tutorials and state-of-the-art web design.
Use technology to your advantage
You need to keep up-to-date with new advances and developments. Companies, especially new businesses can demonstrate credibility through creating decent technological tools and features such as websites and apps. Sort yourself out a decent and reliable developer or IT consultant. For more details click here. You will need help with all your internet needs.
Always update any software you use as this will ensure your computers stay compatible with the latest technology.
Keep your nose to the grindstone
Remember you won’t get anywhere without hard work! Stay hands-on and put in the hours to get your company afloat.