Do you see nothing but dollar signs when you think of creating a marketing strategy for your startup company? The prospect of investing money in promoting your product can seem overwhelming when you’re already dealing with costs associated with product development and deployment. What you may not realize is that failing to make any sort of marketing effort could turn out to be the costliest decision of all. Marketing is an investment that pays off for startup companies in big ways. The reality is that very few people will be able to find out about your company unless you go out into the world to share what you can offer. How big of an investment do you need to make in marketing? The answer depends on what you’re looking to achieve early on in the process of launching your product. Many startups have actually found success simply by launching grassroots marketing campaigns that rely heavily on social media. There are many ways that you can gain exposure without paying a lot of money using digital resources and social sharing. The strategies that tend to be the most effective are the ones that combine grassroots elements with proven marketing elements. There are many ways you can get out the word about your company without taking out pricey ads in publications or airing commercials on network television.

Are you looking for cheap and effective ways to start advertising your brand? You can start with these five inexpensive methods for building a marketing strategy that will make your name known.

Social Media Influencers

Word of mouth is still one of the most successful marketing strategies you can use. Relying on word of mouth to spread awareness about your company all comes down to building relationships with influential people. Take time to highlight influencers in the sector your company serves. You can then reach out to those people and ask them to hold giveaways of your product or become brand ambassadors. Using influential people to spread the word about your product is a smart strategy because it eliminates the need to do your own research or mine data to find customers that fit your desired profile. Picking an influencer with the same customer base that you’re hoping to attract cuts out a lot of work and research on your part. In addition, an influencer with a robust following already has built-in elements of trust and authority regarding the message that’s being presented. This greatly increases the chances of an audience responding to the message that is presented to them.

Try Inbound Marketing

Inbound marketing is extremely effective because it allows you to create a tight and focused marketing strategy that turns leads into conversions. Using this strategy means focusing a large chunk of your marketing efforts on creating content. This content can come in the form of digital books, videos, email blasts or shareable graphics. Inbound marketing that’s integrated with smart marketing technology allows you to keep track of the impact made by each marketing dollar you spend. This is the best strategy if your goal is to position your brand as authority in the sector you serve.

Use Facebook Live

Do you remember how expensive it used to be back in the day to buy airtime on basic cable? Anyone with a smartphone can now record impressive content that is as wide-reaching as any paid commercial or infomercial. Facebook Live has opened a lot of doors when it comes to broadcasting promotional content. The program has been a hit because people really enjoy the excitement of witnessing live streams and being a part of the conversation. How can you integrate Facebook Live into your marketing strategy? Filming a live stream during a product launch can generate a lot of buzz. You can also broadcast product demonstrations or interviews with the minds behind your startup company.

Spread Your Content All Over Social Media

Content was made to be shared. It is definitely worth your time to spread your content all over social media by any means you can. Enlist the help of friends and peers to share the content you create with their own friends and followers. You might also want to enlist the help of a third-party marketing firm when it comes to making sure you have the right keywords to increase the visibility of your shared content in Internet searches.

Hunt Down Testimonials

Testimonials never go out of style. The words of satisfied clients really do hold weight when potential customers are deciding whether or not to purchase your product. Don’t be afraid to ask clients if they’d be willing to offer a written testimonial or appear in a promotional video. Clients are often happy to participate in providing a testimonial because getting their name out there actually helps them to grow awareness regarding their own brand.

You don’t always have to spend a lot to get a lot when it comes to marketing strategies. Use these five cheap ways to grow awareness about your startup today!