Pitstop host Lucas Walker lets you in on how you can launch a new product or business for as little as $1000 on marketing.
Launching any business is a leap of faith, a gamble that your belief in a product will be shared by enough consumers that your investments in it, both time and money, will be paid back and then some. Keeping your opening capital spending under control can make or break many new businesses or product roll outs, with marketing costs always threatening to spiral out of control.
Here's two ways you can avoid runaway spending and have a successful marketing strategy for as little as one thousand dollars.
Focus on your strengths: Consider what you as a creator can offer to your brand. Are you tech savvy, artistic, can you compose music, write content? Don't outsource a job to an expensive third party when you could do it yourself for free. Hire only for things you can't do or don't have time to handle.
Dry launch with test customers: Find those consumers who are most likely to become your core customer base, with a special focus on any would-be influencers among them, and offer them some exclusive trial products in return for exclusive tailored promotional material. A good influencer is just as much a skilled content creator, and their approaches to your product, written, filmed or photographed, should be your first choice for how you promote the product at launch, across the entire campaign.
- Tags: $1000 marketing challenge, business, consumers, customers, ecommerce, marketing, podcast, product launch, shopify, spotify