How to innovate for free (or close-to-zero budget)

One key premise was that marketers on zero budget would have to avoid paid advertising channels, and focus instead on attracting visitors through free traffic sources including the search engines, video and social media.

In this regard, some relevant quotes arising during the discussion included "content is king", "social networks build trust and act as your personal information filter", "content shapes the brand, especially user generated content", "destination research is 70% of time online in travel" and "the ultimate aim is to convert lookers to bookers".

Some other interesting statistics presented: 19% of travelers visit blogs prior to their visit, 27% check out reviews on TripAdvisor, 42% of travelers head over to YouTube to check out video on their chosen travel region.

We also considered some case studies of innovative use of social media for viral marketing, including the "Best Job In The World" campaign by Tourism Australia. Though not done for free, this campaign generated over US$150 million worth of media exposure on a US$1.2 million budget.

I went on to outline a simple 4-step system for online marketing:

1. Research target market


2. Create quality content


3. Generate traffic


4. Measure conversions
   

Some free tools were presented to assist in each step's activities:
Market research tools: Google AdWords Keyword Tool, Kayak Trends, Google Trends.

Content creation/publishing tools: Free blogging software like WordPress, Animoto for producing viral sales videos.

Traffic generation sources:
For a typical travel business doing online marketing, there are a myriad of marketing channels to choose from. Citing the results of a recent HeBS survey in which hoteliers were asked to select their top three Web2.0 initiatives, I suggested that marketers start generating targeted online traffic by optimising for Google, using TripAdvisor, creating profiles on social networks and blogging on the hotel website.

Measure conversions: Use Google analytics to measure conversions and marketing success.

My conclusion? Yes, we can indeed effectively market on a (close-to) zero budget, by setting clear online goals, using quality content-driven search and blog marketing, leveraging on social media channels and implementing analytics to measure and improve on marketing success.