Zero Budget Marketing

Zero Budget Marketing

Marketing is everyone’s responsibility. It is much more than what the ‘marketing department’ does. It is rather about aligning the whole business to the changing needs of chosen market segments. Therefore everybody in the enterprise plays a part in marketing.

Marketing Strategies are defined as the forward-looking approach and overall game plan of organizations/businesses with a main fundamental goal of achieving a sustainable competitive advantage. It is a unique formula for each enterprise, based on an understanding of its mission, its position in the marketplace in relation to competitors, and its carefully selected markets. While preparing your strategy, it is very important to understand your audience and what channels to reach them on.  An efficient marketing strategy will ensure an increase in business performance.

Zero Budget Marketing is defined simply as implied by its name. Marketing strategies solely done on nothing or minimal amount.  It results in big rewards when correctly implemented and is very useful for brands irrespective of their products, services or size. Organizations can and will gain more profit when free marketing tools and strategies are used. 

Zero Budget marketing strategies may sound impossible at first but after considering the possibilities and benefits therein, you would definitely want to be a part of it. 

Zero Budget Marketing Strategies is not a one approach fits all. That an approach works effectively for company A does not guarantee it will work for B.  It definitely involves setting up a culture of rigorous experimentation (this allows you stay on track and optimize learning), learning from Data and being ready to fail many times.  It is very important to bear it in mind that zero budget marketing strategy is not about buying clicks – it would require huge investment in time and resources.

Why Zero Budget Marketing?

The sole purpose of marketing is to communicate your value proposition to your potential customer. Benefits of zerobudget marketing for organizations include; improved competitive advantage, resources reallocation and marketing manager’s skills development.

Zero Budget marketing allows for diversification of funds to other business areas while effectively meeting customer’s needs and scaling your organizational goals.  This implies that your marketing will be run at zero cost to your organization.

Examples of zero budget marketing strategies includes affiliate marketing, social media marketing, blogging, content marketing, co-marketing, partnerships, community based marketing and relationship with others.

BY

OLUWATAMILORE ALADE

(P4PE LIMITED)

admin

Author Since: August 19, 2020

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