Small businesses and start-ups face notable challenges when it comes to marketing. You know you need to undertake marketing, but you don’t have endless resources. It means that getting the most bang for your buck is essential.
There are a range of marketing strategies you can employ which don’t cost the earth. Which is right for you will depend on the nature of your business. Here’s a handy list of things to chew over.
Never pass up an opportunity for free marketing. Yes, that’s right, free options are out there! Customising your email signature with an offer costs nothing, and is simple to do. Networking is a way of getting your name out. Commenting on other business blog posts, contributing to discussion, or posting regularly on social media channels are all free ways of getting yourself seen. Everyone likes free stuff, it’s our favourite price.
When considering the lowest cost marketing endeavours, it always pays to ‘go local’. If your business is geographically specific then targeting your website SEO, or even leaflet drops in the neighbourhood can help.
Content marketing is a low cost, high return approach. Create content that your ideal customer will look for, whether that’s videos, podcasts, blog posts, or infographics. Lure them in with interesting content, and they’re more likely to stay for the rest.
Content marketing can be as involved or as low key as you can manage. It gradually builds your reputation in that area, and is great for brand awareness. It’s also a brilliant way of improving your organic (unpaid) ranking is internet search engine results.
Be careful with printed materials
Printed marketing materials might not always be the best use of limited marketing budgets. To benefit from economies of scale you need to undertake large print runs. However, if you believe that printed options could work for your business, be savvy with the design. If it’s poorly communicated or even just unattractive, it has less impact!
Depending on the time you have available, nurture your social media channels. Use apps to schedule posts so that you can write them in blocks. Respond to comments and engage your audience. Your biggest cost with this approach is your time.
Many business owners make the mistake of thinking email marketing went out with the dinosaurs. It actually has one of the highest marketing ROI out there, at a staggering 4400%! Create worthwhile subscriber lists, craft informative powerful emails, and see for yourself.
Pay Per Click
Pay Per Click (PPC) advertising is ideal for those with a smaller marketing budget. You set the amount you want to spend and the keywords you want to target. Your primary options are PPC ads on Google and Facebook. Choose which is most appropriate for your business. You can really hone who you advertise to and this can be really worth your while.
Grow your budget over time
The general rule is that the more you spend on marketing, the more you’ll benefit in terms of new business. That said, it doesn’t mean you have to throw all of your profits at it at once. Grow your budget, and test which types of campaign work best for your business, and refine these over time.