They say “a little goes a long way”, especially when it comes to spending your marketing budget! There are many ways you can achieve a lot by making the most of your small budget. Read this article from Brybe.com to learn a few useful methods.
We've listed 3 ways that could allow you to maximize your tight budget.
1. Create Your Own Brand Ambassador Program
In recent years, it has been proven that influencer marketing works, but as the industry matured, so has the pricing model. Now, working with influencers, especially those on the macro or celebrity level, can cost a lot of money. That's normal, considering the general trend in the industry – as influencers grow their audience, their rates typically go up. And that is why building a brand ambassador program is a great way to achieve a lot even if your budget is not that… impressive. While many influencer partnerships are one-time campaigns, brand ambassadorships are long-term. These ambassador programs allow you to lock in rates with creators early on for an agreed-upon time frame. It's a win-win strategy!
2. Remember About Two C's: Community-generated Content
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 why so many companies spend huge chunks of their budget on studio shoots and professional production teams to get the perfect product shot. The good news is that there is a great alternative to these expensive shoots: community-generated content. What is that? We're pretty sure that you already know, but in short: it includes the authentic user-generated content (UGC) as well as influencer-generated content (IGC) created by members of a brand’s community that compels someone to think, feel, act, and share. All these materials combined create a powerful tool that can form an entire ecosystem of community stories – and, which is even more important, the ones amplified by a brand! Community-generated content often takes shape in the form of 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!
When compared to studio-shot creatives, community-generated content costs a fraction of the price – and sometimes it will be even free! On top of all that it has some extra benefits, like:
When working with a tight budget, stretch the impact of your content by repurposing it across all of your marketing channels – that way, you cover all your bases with authentic, diverse materials.
3. Time to Send Some Packages to Influencers!
In recent years, it has become extremely popular for influencers to post PR unboxing videos on YouTube, TikTok, and other platforms. Audiences watch as creators open up their packages full of free products and react candidly.
Sometimes, creators will truly incorporate the gift 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 do 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 her recent chat with the writers from AspireIQ, she explained, “The best approach if you don’t have a budget, is gifting as much as you possibly can. Later down the road, you can see how people reacted. Were there people that posted about it organically? Could you tell that they really did love it? Great. Those are the people that you want to pay next because they’re the ones who are going to be loyal supporters of your product and brand.”
The bottom line is that you have to spend your money wisely!
You can achieve great things with small budgets too. Whether it's by building a brand ambassador program, repurposing community-generated content, or sending out gifts to influencers, there are many ways to reach your business goals cost-effectively.
Liked this blog? Read more similar articles here at Brybe.com – we release a new blog post once a week!