How do you create a content bank with a tight budget?
We all know content is the king. But creating something worthy of being called 'the king' can mean serious investment in terms of money. And that is only the beginning. Then you need more money to promote that content. If it works, you get back your money's worth. If it doesn't, it all goes down the drain. So, I would suggest you start off small. See what little money can do. Do little bit of split testing with different forms of content and then invest on the biggies.
Budget Content Creators: First off, get yourself a good vendor to partner with for low cost content. Bidding sites are a good place to start. You will have different freelancers competing to win your project and in the bargain they go lower on their bids. When you are going with a freelancer, remember to ask for samples of their work and see if you like their content writing / designing style. Fiverr is a great place to look for freelancers who will create content for as little as $5.
Recycle: You can creatively use your existing content. Suppose you already have information on your website created by a previous content writer, but it is just paragraphs of text that nobody really wants to read. One way you can get creative with it is to trim down your content and convert it into a good infographic with smart pointers.
UGC: You may have noticed that sites run a lot of content that is not even created by them. Yet this content gets noticed and shared and gets more users attracted to it. This is the age of user generated content, where consumers write thoughtful stories which other people instantly relate to. Ask people to share experiences around a topic - How did you manage to lose weight, How did you become a great chef etc. You can create contests with big give-aways so that people feel motivated to write.
Shared sources: If all else fails, you can always look to a shared source of content that you can use on your site for a nominal fee, such as a Creative Commons.
Once you have your content bank, get it noticed at little or no cost by enlisting the help of a social media influencer. An influencer is someone on social media who has thousands of existing followers. When you request an influencer to share your content, or to write about you, you will get noticed by these followers of yours and in turn that will help to build up your fan base. Influencers do not usually charge a fee, but are happy enough if you credit them in some way for their assistance.