The saying “a little goes a long way” could not be more true when it comes to your marketing budget. A huge budget may allow you to buy billboards, shoot commercials, work with A-list celebrities, and so on. But there are many ways to make an even bigger impact by stretching your small budget.
Here are 3 ways to leverage the finances that you have — no matter how big or small — to reach your business goals.
1. Start a brand ambassador program
In recent years, it’s been proven that influencer marketing works. But as the industry has matured, so has the pricing model. Now, working with an influencer — especially those on the macro or celebrity level — can cost a pretty penny. This is the general trend in the industry: as an influencer grows their audience, their rates typically go up.
That’s why building a brand ambassador program is a great way to get a bang for your buck.
While many influencer partnerships are one-time campaigns, brand ambassadorships are long-term. Because of this, ambassador programs allow you to lock in rates with creators early on for an agreed-upon time frame. This not only allows brands to save on increasing rates, but it also showcases the creators’ real affinity for your brand throughout the year.
Going forward, invest in a few well-aligned, high quality ambassadors to run long-term campaigns at a better rate.
To get a step-by-step guide to brand ambassador programs, enroll for free in our Ambassador Academy.
2. Repurpose community-generated content everywhere
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’s a great alternative to these expensive shoots: community-generated content. This 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. It’s a powerful tool that can create an ecosystem of community stories, 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 shoots, community-generated content costs a fraction of the price. In fact, many times it’s completely free! Not to mention, there are these additional benefits.
When working with a small budget, stretch the impact of the content that your community is already creating by repurposing it across all of your marketing channels. That way, you cover all your bases with authentic, diverse content.
3. Send out mailers to influencers
Gifting products to influencers is a great way to drum up interest in your brand among your target audience at little expense. In recent years, it’s become very popular for influencers to post PR unboxing videos on YouTube, TikTok, and the like. Audiences watch as creators open up their packages full of free products and react in a candid way.
Sometimes, creators will truly incorporate a product they were gifted 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 our recent chat with Lindsay, 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.”
Spend your money wisely
A small budget can go a long way. Whether it’s by building a brand ambassador program, repurposing community-generated content, or sending out influencer mailers, there are many ways to reach your business goals in a cost-effective way.
Want more tips? Schedule a time to strategize with one of our experts.