Reaching your target market should be your top priority if you’re looking to scale up your business much faster. One way to make that happen is through marketing. Any experienced business owners know that creating and running a marketing campaign requires a good budget.
But if your business can only set a limited budget for your marketing, does it mean you’re less likely to achieve desirable results? The short answer is no. All you need is to be smart with how you execute your marketing strategy. Follow these tips on how you can stretch your small marketing budget.
1. Hire a good digital marketing company
This might seem counterproductive, but is actually the smartest way to spend your marketing money. Hiring a reputable digital marketing company can make everything easier for you. Whether you need a WordPress designer or an SEO specialist, good marketing agencies have them in their team. They can professionally design a website, help you with SEO and content creation, and other online marketing needs.
Seeking their assistance ensures every dollar you shell out will be well spent, helping you avoid time-consuming, costly mistakes. When hiring one, choose a marketing agency that has been in the industry for several years and can show an impressive portfolio.
2. Invest in content marketing
If you or anyone in your team can write well, content marketing is the best way to market your business without spending too much money. This strategy basically revolves around creating and promoting interesting, relevant content that can help increase customer acquisition. You can opt to use your own site or do guest blogging to distribute your marketing materials. Some forms you can work on include blogging, visual content, podcasting, video, infographics, and emails.
In terms of blogging, which is the most popular and least costly option, there are several practices you need to follow. These include focusing on informing your readers rather than selling, producing evergreen content, and sharing consistently.
3. Focus on what already works
If you don’t have the extra funds to try things out, then it only makes sense to go for what’s already working. Use the tools that are proven useful for marketing. For instance, if you’re looking to track your brand’s online mentions, you can go with Google Alerts like most businesses do.
Or, if you have no idea what website content or blog posts work best for your target market, check what your competitors are producing. Instead of plainly replicating their tactics, figure out how you do better.
4. Engage in social marketing
Social media is among the most effective yet affordable methods to reach out to potential customers. Platforms such as Facebook, Instagram, and LinkedIn offer a broad range of ad services with flexible pricing structures, catering to those with small or big budgets. You can easily stretch those dollars with ingenuity and creativity.
You’d also need to invest a significant amount of time in keeping your pages updated and active to have a stronger chance of capturing your targets’ attention. Post original content, respond to comments, and engage with other pages in your niche.
5. Try Pay-per-click
If you want to receive real-time results, pay-per-click or PPC advertising is an ideal option. This approach gives you the flexibility to pay only for qualified leads and make changes in your strategy without risking thousands of dollars. Running a PPC campaign on search engines like Google and Bing is fairly easy. In fact, it could only take less than an hour if you have an expert to help you out.
In executed properly, a PPC campaign can provide your business with targeted and consistent traffic, allow you to reach more potential customers, and gives you control to track the results of your marketing efforts.
6. Slowly engage with non-buyers
The hard truth is, not everyone who loves and trusts your brand is going to make a purchase. That’s just how the market works. Take a look at your funnel. If you notice that you have numerous leads that are not converting into sales, try out a ‘crock pot’ technique. Slowly engage with those leads by distributing newsletters and great content. You can reuse your past newsletters, videos, or blogs, just as long they are still relevant.
When it comes to engaging with your non-buyers, avoid hard selling as this can only make them more disinterested in buying your products. Take your time in moving them towards sales conversion, regardless if it takes weeks or months.
Your company’s budget for marketing doesn’t necessarily need to be thousands of dollars upfront. Learn how to make the most of it and carefully choose the best strategies that work best for your brand.