Every business owner is constantly thinking of new ways to acquire new customers. Expensive marketing and advertising might seem like the right thing to do, but there are effective alternatives to aid in growing your business without breaking thebank. Here are three inexpensive strategies to help grow your brand:

1. Millennials are the future
If you aren’t already aware of the fact that millennials will soon become the biggest demographic in history, you had better take advantage of this while you still can. Within a decade, they’ll enter peak earning years and comprise over half the workforce. This will develop an incredibly lucrative market for years to come. You don’t need an expensive marketing campaign to catch millennial attention. A large portion of your clients are likely to have adult children you haven’t connected with yet. Make it an objective for advisors to reach out and get them on board.

2. Referrals
Get out into the market and build connections with key influencers. It could range from a well-connected businessman or an accountant with several high net-worth clients. Referrals from your current clientele can be an excellent way to build trust and forge lucrative, long-lasting relationships.

3. A marketing strategy
Focus on developing an effective marketing campaign. Start with the basics, like with your website. Tweak its appearance, its optimisation for smartphones and tablets, or its ability to allow visitors to engage with your business. This is a relatively easy way to maintain a great first impression with potential clients.

Always maintain a healthy balance between outbound and inbound marketing to build your brand awareness effectively. Paid social advertising is another great way to target clients in your area. Spending ridiculous amounts of money on your company’s brand is not the only way to get exposure. These simple tasks, when done consistently, will definitely contribute to the overall bottom line of your business.