In any industry, when you have a ‘shoestring budget’, you have to become creative in order to build your empire – especially when competing with the big boys, which is never easy but definitely possible! Below we have suggested a few ideas in which brands and agencies of all sizes utilise their budget to make a small bridge stretch a lot further.
Find A Buddy
They say two heads are better than one and the same of course applies with two budgets. A lot of brands we work with have found that working with complimentary products and services can be a massive advantage, as it not only let’s you tap into a new audience but it also allows you to share the cost. We’ve seen supplement brands partner with gyms, hotel brands partner with airlines and clothing brands partner with lifestyle brands, this is just to name a few. So our tip is to get creative, really think about how people use your product and what other products out there would compliment yours. That way, you can create a collaborative campaign that will boost your awareness and sales.
Build Long-Term Partnerships
If for instance you decide to incorporate influencer marketing into your budget, then rather than searching for an influencer to create one piece of content for your brand and then moving on to the next, you should always try to strike up a long-term, mutually beneficial relationship. Not only will the content that the influencer creates look more authentic, it will most definitely increase the influence they have on the sale of our product or service. It will also mean that they may going forward use or promote your product on their social platforms for a smaller fee. Extended exposure creates familiarity with your brand, which in turn increases the likelihood of a sale. It is so much more cost effective to collaborate with an influencer that is willing to create a number of posts compared to a one-off post that may or may not get seen.
Gifting / Brand Ambassadors
We all know gifting an influencer is a great way to save a few £££. But it is becoming much harder to find influencers who will create content just for a freebie, especially those with a substantial following. Why not expand that relationship and make them a brand ambassador! This could allow them exclusivity to all your new product ranges, invitations to events and introductions to your contacts. The more you do for an influencer the more they will do for you. It has definitely worked for us, our influencers know there is so much more to working with TBP than finding brands and collaborating. We make sure they have exclusive access to our events, join us on trips across the world and so much more. Show them you care about them more than just their number of followers and you’ll be able to grow both your brands together!
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