Human Resources, Marketing, Strategy, Technology

Cheapest form of Marketing

Can you live without breathing in?

I know we can’t, but some companies try to do that.

Every company wants to increase revenue and cut costs, but then going ahead and cutting marketing is like stopping to breath to live longer. So, this post is for all those companies who want to cut costs without stopping to breath.

What is your cheapest source of marketing, you just have to look around. They are your employees, cheapest and best source of marketing. Best because the people they talk to and they will influence will rely on the information much more than any other source of marketing and cheapest because anything you spend to keep your employees happy is generating you multiple benefits i.e. human development, better products, better work efficiency and of-course marketing.

So you would want to know what are the ways in which employees can do marketing

1. The social space of employees is one area through which they reach out to hundreds and thousands of people. This space is their personal, but company can provide enough benefits and encouragement for employees to use their social network for comany’s benefit. Just one share of an employee reaches out to more than 10,000 people on linkedin and 25,000 people on facebook even for the less connected ones. Simple actions like liking company’s updates does greatly boost the reach of each of the company’s message.

2. Providing gift articles like t-shirt and bags do much more than just making the employee happy. They are your visual displays on the run. You can never imagine buying a movable display at such a cheap cost. So, provide the best messages on those gift articles so that whoever comes across those remembers them. When using this medium be careful of providing good quality as otherwise your employee will never use it or even worse, people will identify your brand with bad quality.

3. Providing referral bonuses to employees is another good way, so that, employee indirectly reaches out to his network of school and college alumni to make your brand presence felt everywhere. You can also be assured that he will say good things about the company more as he would want people to join.

Invest in your employees, the cheapest way of marketing.

 

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3 thoughts on “Cheapest form of Marketing

  1. Gaurang chakradhar says:

    Excellent article, when i read the title i expected this article to be about marketing tactics gone wrong, but it ended up to be about marketing tactics that cost nothing! A lot of people know and understand these things but dont implement – fail to understand why!

  2. Mahesh Chayel says:

    Thanks Gaurang! Appreciate your feedback.

    You are right, few of these things are already known by companies but still they do not go ahead with it. The main reason for that is there is no quantification being done on the ROI of this investment, other media and marketing companies show them the footfalls/eyeballs number for the quantification.

    But, if they analyze the data properly they should see quantification of the investment in employees and that is when they will truly be interested in this form of marketing.

  3. I agree with Mahesh’s ROI argument. There have been attempts at measuring branding / new customer ROI through these modes before, but haven’t caught the fancy of people yet.

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