The term ‘shoestring budget’ refers to a very limited amount of money that business owners have to run a venture or personal finances. Whether you are a seasoned consultant, workshop leader or a semi-retired worker, there are chances that you can benefit from unique and creative ways to stretch your cash and maximize your revenues from a shoestring budget. If you are on a shoestring budget, then it is necessary for you to use low cost marketing strategies to promote your business. For example, you can use viral marketing or bulk SMS in UAE for this purpose.
Define your target market and hunt it with low cost marketing options
You know your business better than anyone else so define your potential target market to sell your product and services to. After defining your target audience, it will be clear as to how that specific market segment can be addressed. These days, digital methods of marketing have gone rather economical and must be used.
When do your customers want your product the most?
This factor has two characteristics: it is extremely vital and can go wrong rather easily. You need to acknowledge the fact that a product is not wanted all the time. Changes are always desired by your consumers. For example, nobody wants to have food when they are not hungry, no one would want to sleep when they are active, right?
The common mistake that entrepreneurs make these days is that they wonder what people are actually looking up on Google when they are interested in purchasing. Rather, you should consider, are people actually interested in buying while using their computers? For example, ice cubes are only desired when people have a can of soda in their hands out of a vending machine and are going to pour it out in their cup and this is where you need to reach out to them.
Right places, right time
The next thing that you need to consider is how you can be there for your customers when they really want to use your products. Well, consider the ice cube example again; in such a case, you ought to be using guerilla-marketing techniques and post out signs over the vending machines at local businesses.
If you can spend out some money, you can go for vendor advertising or even try to come up with give away cups that have antibacterial handles together with branded messages over them. Let your imagination run loose – that’s the best thing that you can do. Look at this site for more information.