Advertising is expensive. Advertising costs a lot of money in order to be visible in the market and get in front of customers' eyes. Advertising accounts for approximately 12% to 20% of a startup's budget. If you're an entrepreneur who's just started a business and wants to attract new customers, you'll need to advertise your product. Understanding the USP (Unique Selling Proposition) is essential for this. The USP of your product is its distinct identity from that of your competitors. Keep in mind that your product must have a distinct selling proposition. Because this will position your product as valuable to potential customers and your target market. When it comes to starting a business, the capital investment is not as large as it is for larger corporations.
Another type of advertising comes into play when the advertising budget is very small or non-existent, but your idea is unique and can provide value to the consumer. This is known as Zero Budget Advertising. The amount of money spent on this type of advertising is very low, or even zero, depending on the size of your startup company. In addition to paid techniques, some strategies are developed to promote your company. These strategizing processes include brainstorming ideas and determining how to put them into action based on the time, consumer mindset, and consumer needs.
There are a number of free platforms on the Internet where you can advertise your business without spending any money. These platforms have a large user base. These strategies are devised in order to gain access to the minds of these users.
A few of these platforms are listed below, and they can all be used to reach out to your target market:
One of the most widely used social media platforms on the Internet is Facebook. It is used by over 2.6 billion people all over the world. Consider how many people you can reach if you have a great product idea and a solid marketing strategy. All you have to do now is come up with creative posts that will intrigue and persuade people to buy your product. Using Facebook is free, so there is no cost involved in doing so. Facebook does not charge for posting on its platform. Using this method, Facebook becomes a tool for you to advertise your product and reach out to people to persuade them to buy it. This is referred to as "zero budget advertising."
Instagram, another Facebook-owned platform, can be used to promote your product for free. Instagram has its own set of features that can be used to promote your business. Instagram's business model was founded on the simple concept of sharing photos. Following that, they began with videos, stories, reels, and IGTV. Instagram's versatility gave its users the ability to share content in a variety of ways. You have the option of posting a photo of your product or an ad-video of your product. You have the option of posting a small ad-video of your product, among other things. There are billions of users on Instagram, and you can easily reach them by simply providing good value through your product, and people will buy it.
WhatsApp is another Facebook-owned chatting platform. Rather than using other available platforms for chatting, billions of people prefer WhatsApp. It is safe and simple to use. You can create image and video posts of your products to promote them on this platform, and you can send them to a large number of people using WhatsApp. It will increase your visibility and reach.
LinkedIn is another business-oriented platform used by professionals. This is a one-of-a-kind piece. And it can be used to easily and effectively connect with your potential audience. It operates on the same principles as other Social Media Platforms, but with a unique methodology.
Pinterest is similar to Instagram in that it only allows you to post images of products to promote and persuade your target audience to buy them.
A website is an essential component of any business. There is a market perception that no business can function without a website. Owning a website is essential for running a business in today's digital world. Consumers who want to buy your product will first look for the website and want to learn more about the company that makes it. Without some basic analytics, no one would consider purchasing a product. As a result, if you want your company to be visible in the digital world, you'll need a website.
Conclusion: It is not always necessary to use costly advertising methods; instead, we can use other available platforms of Social Media, along with creative strategies, to promote your unique product to a targeted audience and gain potential customers. This is called Zero Budget Advertising.