It might be possible, you would have to use malloc to allocate space for a variable then hold the text in that variable. The problem is that the malloc function would try to use free memeory and that's exactly what the error says you haven't got enough of!
If the text is fixed, for example messages to be displayed on an LCD, the better method is to declare them as "const" instead of a normal variable. This tells the compiler that the text will never change so it can be stored in program memory instead of RAM. For example:
char text[14] = {"TEST FOR HEAP"}; will use 14 RAM locations, one for each character and one for the terminator.
const char text[14] = {"TEST FOR HEAP"}; will use 14 ROM (program space) memory instead, leaving the RAM free.
Be careful though, when declared 'const' and stored in program memory, the text can be used as normal but you can't write to it so it can't be altered from within the program.
Brian.