Marketing on a Budget: Cost-Effective Strategies for MSMEs

Marketing is an essential part of any business. Whether you are a business owner of a Micro, Small, or Medium Enterprise (MSME), you must deliver information about your products and services in the most efficient way possible —and by efficient, we mean at the lowest cost with the widest reach. MSMEs, specifically, need more money to spend on digital marketing. In recent years, spending less on digital marketing has been a reality, all thanks to the internet. 

Nowadays, you don’t need a big budget to impact your digital marketing significantly. As an owner of an MSME, you can use well-thought-of, cost-effective strategies to reach your target market and build your brand. Many businesses thrive using social media as a marketing tool. If you still haven’t, the question is, why?

Here are four tips for a cost-effective marketing strategy:

Use User-Generated Content to Your Advantage

User-generated content (UGC) is content that your customers create and share about your brand. It can include social media posts, product reviews, blog comments, and customer photos. UGC is a powerful marketing tool because it’s authentic, trustworthy, and can be more engaging than branded content. Leverage UGC as it is the heart of social media management.

To leverage UGC, encourage your customers to share their experiences with your brand on social media using a branded hashtag that is uniquely yours. Let those mentions flow in, and from there, you can use them as content on your channels, giving your customers a shoutout and showcasing your brand in action. After all, digital word-of-mouth is considered highly reliable, so maximize the mentions your brand gets. What’s more, is that it builds customer relationships that lead to loyalty to your brand. Customers love being acknowledged by brands, so use it to your advantage. 

Collaborate with Influencers

Influencer marketing goes hand in hand with social media management. It involves partnering with social media influencers to promote your brand to their followers. Influencers have large, engaged audiences who trust their recommendations and opinions, making them a powerful marketing tool for MSMEs.

It’s relatively easy to collaborate with influencers. However, you should identify those who align with your brand before you reach out to them with a collaboration proposal. Find someone that could represent your brand the way you want it. You could offer them a free product or service in exchange for a review or feature on their social media channels. Influencer marketing can be a cost-effective way to reach a large, engaged audience and build your brand’s credibility. 

However, you have to remember that more prominent influencers, those with a massive number of followers, may not collaborate with you due to existing partnerships with other brands, or they might not feel your product or service benefits them; influencer marketing, after all, is a two-way street. So pick the ones that may be on the rise; you’ll never know when they will hit it big, and that future success will surely rub off on your business.

Embrace Online Interaction with your Consumers

By embracing online interaction with consumers, businesses can increase their reach and exposure to potential customers, leading to increased sales and revenue. The effectiveness of your social media management relies heavily on your followers’ activities. Therefore, as a business owner, you steer the ship of your page; any interaction your consumers engage with you should be a sign that you’re doing something right. Embrace the exchange, whether it is a simple comment, a product inquiry, or even a complaint, welcome them with open arms. 

In today’s digital age, businesses that fail to embrace online interaction with consumers risk falling behind their competitors who are actively engaging with their followers. Remember, Facebook shows how fast a business page replies to direct messages. Potential clients are likely to get turned off if they see that your business “typically responds within a day.” Digital marketing works only if you are as active as your audience.

Partner with a Digital Marketing Agency

We have established in this article that a digital presence is essential for any business, regardless of size. But suppose the first three tips above still feel like too much work for you. In that case, partnering with a digital marketing agency will be the best solution for your business. Hiring one will not only alleviate the stress of working on the digital aspect of your business, but also, makes you focus more on the operations side of things, which we all know is already a handful. 

Arc Innovation and Insights is your one-stop digital marketing shop for all your digital needs. We are more than your usual digital marketing agency. We do branding, content creation and management, social media management, and strategic management and consultancy. So whatever you need, trust Arc to help you grow your business to new heights. 

Arc is a team of innovators and creatives, all with a business mindset inclined to help each and every account grow. By working with Arc Innovation and Insights, MSMEs can tap into the latest marketing trends and technologies and gain a competitive edge. We have the tools, knowledge, and resources to help you succeed in today’s digital marketplace. 

Call or message us at +63(02) 8840 – 0054 or +63(02) 8813 – 7616 or shoot us an email at today to learn how you can be the next Arc partner and start conquering the digital space.