Marketing is an essential tool to boost any business on the path towards success as it spreads brand awareness and draws in new clientele. Though not all companies invest in marketing and advertising, the pay-off is well worth the financial sacrifice.
Adam Ferrari, a business leader in mineral acquisitions, is a firm believer in the advantages of marketing at any stage of business development. As a chemical engineer by degree and a petroleum engineer by profession, entrepreneur Adam Ferrari had to learn how to build a brand while gaining experience in energy and finance. Adam Ferrari is the founder and CEO of Ferrari Energy and understands that for any business, budgeting for marketing is essential. Ferrari shares eight ways to make room for marketing.
Partner with Like-Minded Businesses
A great way to market with smaller budgets is to partner with businesses in like industries to benefit and build awareness for both brands. This can be through the exchange of social partnerships and promotions including Instagram Lives, social giveaways or virtual hosted panels to both encourage new audiences and offer value to existing audiences.
Utilize Social Media
What’s great about social media for a company with a tight budget? It’s free! And it gives any business owner access to any audience they desire when using the tool correctly. It can be beneficial to invest time into more than one social media platform, too. For a low cost, social media platforms also offer paid advertising, which can further a message about a company to a broader audience.
Networking might come at the cost of a networking event, but company representatives can also choose to network anywhere. As long as business leaders can get the conversation going, they can open the door to multiple marketing opportunities, and even potential partnerships.
Start an Educational Video Blog
A video log, otherwise known as a vlog, on platforms such as YouTube, is a great marketing tool for both brand awareness and building brand credibility on industry matters. It also helps develop new and innovative business ideas when doing lots of research about what to speak about to the audience.
Getting involved in the local community through volunteer work is a great way to build brand awareness in a positive light. It is also a free networking opportunity. Businesses find the most success when they align their values and morals with a charity they want to support.
Creative and imaginative minds will thrive with budget-friendly guerilla marketing. This specific type of marketing strategy utilizes out-of-the-box thinking for small businesses to compete with big companies. Chalk-drawn advertisements on busy trafficked sidewalks are an example of guerilla marketing.
Create an Elevator Pitch
An elevator pitch is essentially an eleven-second pitch on the ‘what’ and ‘why’ behind the business. This marketing tactic is free and a great tool to have if the opportunity arises to sell the company’s purpose quickly to any potential investors or customers.
Ask for Customer Referrals
Never be too shy as a business owner to ask for customer referrals from existing clients. When gaining new clientele, it can be much more comforting for consumers to know that someone else has benefited from a service or product.
About Adam Ferrari
Adam Ferrari is an accomplished petroleum engineer and is the founder of a private oil and gas company, Ferrari Energy. Through various roles in the oil and gas industry, mineral rights expert Adam Ferrari was inspired to learn more about property rights and the inner workings of petroleum exploration and extraction. After gaining expertise in the energy sector, Ferrari obtained knowledge of the financial industry through his time at an investment firm. He then pivoted to building his own business, Ferrari Energy, from the ground up. When Adam isn’t working, he spends his time volunteering and giving back to his community.