Marketing on $700 a Year (BrandWeek)
This is an excellent story that discusses companies using low-cost marketing methods. It includes a look at how one start-up company, Mint.com, grew in just two years to be worth over $170 million while spending very little on marketing. Instead they (along with other companies mentioned in this story) use smart web tactics to get noticed and to spread the word. While Mint spent somewhat more than the $700 mentioned in the story title, considering their size they still grew the business on a relatively small marketing budget.
Thanks to new social media and communications technologies, partnered with adept PR strategies, Wells showed that building a so-called Web 2.5 brand doesn’t need to cost much these days—and the experience is liberating.
Are the marketing tactics used by the companies discussed in this story reasonable options for anyone starting an online business today or did these companies simply get in at just the right time when few other companies were using these tactics?