'Shoestring Marketing' creativity can save you money'

A product may have excellent features but if it cannot be sold, it can be the worst product in its category. To generate revenue, the final step is to close a selling deal with the end customer. Sales are driven by marketing. So to generate customers, proper marketing is crucial.

'Origin of shoestring marketing'

The budget constraints taking toll on marketing departments have positive effects also, one such outcome is ‘shoestring marketing’. In simple words, it means-‘Use creativity instead of cash to capture the attention of customers.’ It is becoming a need rather than an option for the marketers.

'Shoestring marketing in action'

Shoestring marketing is the mix of traditional as well as contemporary marketing tools. The key to a successful shoestring marketing is to reach out to your consumer by any means. Different strategies are adopted for regular customers and for the first time buyers. The loyal customers seek preferential treatment in terms of free offers like free purchase after some frequent purchases. The first time customer on other hand values customer service. One of the cheerful way of keeping your customers involved is to organise events, theme parties etc.

'A Good product is half work done'

If you have a good product which has a Unique Selling Proposition (USP) then only thing you need to do is to establish its value.  This can be backed by providing guarantees, trial offers etc, for first time users. If the USP is established then promotion becomes easier. You can always surprise your customers by offering them out of the way discounts and add-ons to the products.

'Power of Networking'

Remember, a business can grow very fast if you are growing your network. Growing network can be across suppliers or it can be a network of existing or prospect clients. The networking can be achieved using offline methods such as radio and TV infomercials, business groups, trade fairs, parties, seminars, meetings etc. The online methods like social media networking sites and blogs can also be used all as part of a shoestring marketing campaign. One thing to be taken care of in online marketing is that you must post dynamic content on your webpage which is updated regularly and reflects creativity. The sms campaign can also be one of the tools.

'Power of brand'

A brand is something which a company builds up over a long period. Customer is always willing to shell out extra money if he perceives brand as unique. The brand building is done in several ways like brand in terms of excellent customer service; can be in form of innovative products; in the form of quality accreditation or a reputation of a company involved in some social cause for society. The customer feels proud to be associated with the brand.

'Traditional ways'

The traditional approaches are very useful ones. The basic concept is to share your business knowledge to let customers know that you can solve their business problems. You can publish research papers, whitepapers and case studies to spread the word about your business expertise. Frequent press releases or editorials increase your visibility. You can create a catalogue to attract customers across various products which can help you in cross selling different products. Other creative ideas can be thought of like putting a message on your rubber stamp, using guerrilla marketing methods such as leaving sandcastles on pavements promoting your offers.

'The Human factor'

You must appreciate the human capital. Empower you employees, provide them break from hectic work, train them and reward them. You yourself should not lose enthusiasm and face the adversities of the business.