1. Identify The Target Market
Start by identifying your target market and creating a strong value proposition. This will help you stand out in a crowded online market and attract the right customers. Your target market are the group of people who are likely to patronize your business because the services or products you offer are relevant to them or addresses their needs or wants.
2. Use Free Marketing Portals
Marketing your business, products or services is the pivotal to the success of your online business. Marketing can be very expensive, so as a startup, it is in your interest to make adequate use of free marketing channels to get the word out about your business. This can include social media marketing, content marketing, and guest blogging.
Start from social media, create a business page, use free tools to design nice graphics and infographics about your services or products and post them consistently. Remember to learn the language of social media such as tags and keywords relevant to your business so you can reach the right people.
3. Offer Free Resources Or Services To Your Customers
As a startup, many people do not know the quality of your products or services. It is therefore important to offer free resources or services to your customers. This can help you build trust and credibility with your audience, and it can also serve as a way to collect email addresses for your marketing efforts. Not only that but if these people find your service or product to be quality and useful, they will get the word out and recommend others.
Make sure to invite some of the people following your business online to try out the product or service and get them to post about it on their social media platforms. This is free marketing in some way.
4. Use Your Network, Friends And Family
Look for ways to leverage your existing skills and resources. Do you have a particular expertise that you can use to help your business? Can you use your personal network to help promote your business? Never hesitate to use your network to help propagate your online business.
Get them to follow you, ask them to post and engage with your business page and also invite their friends to check out your business. These people will serve as a catapult and foundation for your online business to grow.
5. Referral Program
Consider offering a referral program to encourage your current customers to spread the word about your business. Such a program involves giving your customers or any other person a cut when they refer customers to who buy or pays for your services. The amount can be set as a percentage of the profit you make per each purchase. This financial reward will serve as motivation for people to refer others to you.
Make use free or low-cost tools and resources to manage and grow your business. There are many online tools and platforms that can help you with tasks such as marketing, customer relationship management, and invoicing.
Starting an online business with no money can be challenging, but it is definitely possible. By focusing on your value proposition, using free marketing channels, and leveraging your skills and resources, you can grow your online business and achieve success within the shortest time possible.