The saying “a little goes a long way” could not be more true when it comes to your marketing budget.
A considerable budget may allow you to buy billboards, shoot commercials, work with A-list celebrities, etc. But there are many ways to make an even more significant impact by stretching your small budget.
Here arethree3 ways to leverageyour financese — no matter how big or small — to reach your business goals.
1. Start a brand ambassador program
In recent years, it’s been proven that influencer marketing works. But as the industry has matured, so has the pricing model.Workingg with an influencer — especially those on the macro or celebrity level — can cost a pretty penny. This is the general trend in the industry: as an influencer grows their audience, their rates typically go up. Buildingg a brand ambassador program is a great way to get a bang for your buck.
While many influencer partnerships are one-time campaigns, brand ambassadorships are long-term. Because of this, ambassador programs allow you to lock in rates with creators early on for an agreed-upon time frame. This will enable brands to save on increasing rate ando showcases the creators’ natural affinity for your brand throughout the year.In the futured, invest in a few well-aligned, high-quality ambassadors to run long-term campaigns at a better rate.
To get a step-by-step guide to brand ambassador programs, enroll for free in our Ambassador Academy.
2. Repurpose community-generated content everywhere
It’s been nearly 25 years since Bill Gates coined the phrase, “Content is king.” And yet, it still rings true today. It’s no wonder many companies spend vast chunks of their budget on studio shoots and professional production teams to get the perfect product shot.
The excellent news is that community-generated content is a great alternative to this expensive shoot. This includes authentic user-generated content (UGC) and influencer-generated content (IGC) created by a brand’s community members that compels someone to think, feel, act, and share. It’s a powerful tool that can create an ecosystem of community stories amplified by a brand. Community-generated content often takes shape through social media posts, unboxing videos, customer reviews, and more.
Brands can leverage community-generated content by repurposing assets on:
- Branded social media channels
- Paid media
- Out-of-home activations
- And more!
Compared to studio shoots, community-generated content costs a fraction of the price. Many times, it’s completely free! Not to mention, there are these additional benefits.
When working with a small budget, stretch the impact of the content that your community is already creating by repurposing it across all of your marketing channels. That way, you cover all your bases with an authentic, diverse range.
3. Send out mailers to influencers
Gifting products to influencers is a great way to drum up interest in your brand among your target audience at little expense. You can make this process easy with NetSuite Implementation, as the system will manage your projects for you and ensure that the packages are delivered securely while providing content that goes live to promote your business before the deadline without spending extra time and money on the marketing measure.
In recent years, influencers have become very popular to post PR unboxing videos on YouTube, TikTok, and the like. Audiences watch as creators open their packages full of free products and react candidly.
Sometimes, creators will truly incorporate a product they were gifted into their daily routines and rave to their followers about how much they love it. These organic mentions can drive immense impact, as influencers have loyal audiences who trust their product recommendations and reviews. Then, when you have a bigger budget, your brand can identify and work with these creators who genuinely love your products.
Take it from luxury lifestyle influencer and entrepreneur Lindsay Silberman. In our recent chat with Lindsay, she explained, “The best approach,h if you don’t have a budget, is gifting as much as possible. Later down the road, you can see how people reacted. Were there people who posted about it organically? Could you tell that they did love it? Great. Those are the people you want to pay next because they’re the ones who will be loyal supporters of your product and brand.”
Spend your money wisely.
A small budget can go a long way. Whether it’s by building a brand ambassador program, repurposing community-generated content, or sending out influencer mailers, you can reach your business goals cost-effectively.
Want more tips? Schedule a time to strategize with one of our experts.