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Cost-effective Ways For MSMEs To Market Their Products In India

| Published on September 24, 2021

Retaining customers has proven to be a challenge for marketers since time immemorial. This is especially true in today’s time due to the sheer availability of variety, for any particular product in general. While some businesses have gained enough experience in managing and retaining their customer base, attracting customers and retaining them over a continued period of time is demanding, especially for MSME’s. Customers need to be constantly reminded about the product. And this can be done in cost-effective ways. Let’s take a look at some of them

1. Blogging

Blogging is a popular marketing strategy. One can write blogs and content on the website. However, it can also be done by hiring freelancers for this job. It educates readers giving relevant information in detail. Sufficient traffic is ensured when there is regular updating on the website and even social media pages.

2. Taking advantage of Social Media

The power of social media is tremendous. One simply can’t ignore the reach it has. MSME’s can use this medium by designing programs according to their target audiences and can market their products through videos, audio clips, polls, surveys etc…

3. Direct marketing

MSME’s can utilize various opportunities like participating or organizing various events like seminars and exhibitions, showcasing their products. However, relevance of the product to the event is of utmost importance. This helps potential customers in understanding the products better and also has the advantage of mouth-to-mouth publicity

Source

4. Influencer Marketing

This strategy has gained a lot of importance in recent times. Businesses can use bloggers, YouTubers or social media enthusiasts to promote one’s products. Influencers regularly post content on their social media accounts and this drives faster promotion. Just like brand ambassadors, they do a great job at promoting products.

5. Affiliate marketing

Affiliate marketing involves a third party promoting a company’s product or service for a commission. Similarly, referral programs utilize the experiences of customers in promoting products and services, awarding them with discounts or payouts.

6. Website

Today, having no online presence of a business, is like having no business at all. A website has become a basic necessity. Potential customers, suppliers and all other parties involved in a business can reach out via a website. Through websites, one can also reach out to those who have relevance to the product or service.

Apart from the above, networking in events, online networking and cross promotion can also have tremendous reach and prove to be very beneficial in marketing one’s product or service. Contemporary businesses require newer sources of marketing. With technological innovations and changing audience preferences, one can reach out to newer customers and go a long way in retaining them.

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