Successful marketing on a limited Budget.When a small business is starting up it usually does not have sufficient capital to market the product or service. That`s why I wanted to know about how marketers handle the challenges of marketing with limited funds. As I read the articles and make some research according to this issue I have obtained some conception and ideas.
There are only two real challenges to marketers faced with limited funds - mental challenges and intellectual ones. If you've got a big budget you can afford to think big. If you haven't, you need from necessity to think small.
As well as, you need to be creative and responsible with every penny you've got.
Marketers with big market can afford to take risks, make guesses about many aspects of their campaign, use mass media, and accept that some amount of wastage is inevitable. In complete contrast, successful marketing on a limited budget is all about getting 'down and dirty' with the detail.
According to the article , the sole purpose of marketing is to 'create a sale'. And the business owner must remember to make sure that their method reaches to the target market effectively.
There is a good news to create a transaction between potential customers and marketer through digital world in other words by the internet.
In recent years customers are increasingly coming to online purchasing. To purchase your product or service through online, obviously you'll need a web site, If you've got a fantastic website with everything a buyer needs you will be a huge success. But the cost of entry is tumbling and you can now get more functionality for your money.
So, you'll need a good web statistics package and a well structured database so that in the fullness of time you can build a CRM campaign to understand your customers' needs and then meet them. Moreover, you can test the market by paying for key words or sponsored links.
. Online advertising is still cheap as a medium, and creative costs can be much lower than traditional ways.
Even though I have learned many things from these articles, i still have a question.
I read the statement that is not clear in my mind.
- DO NOT make your bids ridiculously low because you don’t want to blow your budget.
Is that statement right? Why? I
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1 comment:
I thought it would be nicer for you to add some analytic information about marketing strategies they used which could be found from the article. But still, it is very good journal!! It certainly got me thinking~~^^
Thank you~~
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