Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Arguably the most important part of your business is it’s marketing. Figuring out how to properly market your business can be the difference to outlasting your competition and further propelling you forward. The following contributed post is entitled, 4 Innovative Marketing Solutions To Grow Your Business.
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How do you grow your business? It starts with finding more customers, making more sales, and generating a larger revenue. The more you earn, the wider your profit margins become. As a result, you have extra money to invest back into your company, allowing you to expand.
Business growth is centered around your marketing strategy. By marketing and advertising your company, you make everyone more aware of it. You reach consumers that may have never heard of you before, and you can generate a lot of new leads, which convert into sales.
Naturally, there are various marketing ideas you can try out. But, it helps to be a little bit creative. Keeping that in mind, here are some innovative marketing solutions that will grow your business:
Pexels – CC0 License
Create an affiliate program
Affiliate programs are basically a way for you to create a little marketing team. The idea is simple; you let people sign up for the program, and they promote your business for you. In return, they get a commission on any sales that occur through their promotion. If you have a look here, you can see some actionable steps to create an effective affiliate marketing program. It’s an innovative idea because you’ve come up with a low-cost way of, essentially, paying people to promote your business. The benefit of this is that it only costs you money in commissions, which will only occur when sales are made. So, you’ll be making money as well; perfect!
Get taxi drivers to advertise for you
Taxi drivers, or private car hire drivers, represent a unique marketing opportunity for your company. Think about how many people will get in a taxi during one day. A single driver has multiple clients, and this continues throughout the week, month, and year. Imagine if you had a way of advertising your business to all of their clients – you’d tap into a massive market. Well, you can – and it’s all thanks to promotional air fresheners. You can click here for more info, but the idea is that you create air fresheners with your brand on them. Hand them out to taxi drivers for free, and they can hang them from their rear-view mirror. Now, all their clients will see your logo and might be intrigued. Add some contact details on there as well, so people can get in touch with you. The drivers won’t object as they get a nice smelling car and don’t have to do anything or pay you a penny!
A post shared by MarketingManthan (@marketingmanthan) on Sep 26, 2019 at 1:43am PDT
Guerilla marketing is a modern way of marketing your business out in public. Essentially, the aim is to take people by surprise and make a big statement. Typically, guerilla marketing happens outside and uses the existing surroundings to promote your business. For example, some companies have created artistic graffiti displays on walls or the pavement. Others will create props and station them in areas with heavy foot traffic. Even a pop-up stall or event is a form of guerilla marketing. There are plenty of examples out there, and it’s a proven way to make people stop and take notice. Often, you’re applauded for your creativity, which makes people respect your business and think you’re different from the rest.
zoom in on the syrup pic.twitter.com/omRBupjrXq— Denny’s (@DennysDiner) March 1, 2017
Take advantage of memes on social media
For those that aren’t aware, a meme is anything that’s become incredibly popular and is spread and shared far and wide across social media. Usually, they’re videos or images, and they can be manipulated for various uses. Now, social media marketing is one of the fundamentals of running a business, but using memes can take your campaign to new heights. The benefit of doing this is that you can increase your engagement because people are already aware of the memes. It shows your business is current and up-to-date as well, and people will have a laugh too. So, this creates a positive perception of your business, which can increase your follower count and have a knock-on effect with lead generation and conversion. You’ll also see more engagement on your posts as well – just look at the example above where Denny’s used a popular meme to their advantage.
By all means, continue using more mainstream marketing ideas as well. But, if you’re looking for a way to give your company a boost and encourage more growth, then be innovative. These four ideas are a little bit different, which makes them stand out. Also, they’re all cost-effective too. None of these ideas will break your marketing budget, so you avoid overspending and causing a loss of revenue.