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How Can Marketing Be Cost-Effective?

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Cost-effective marketing can be done mainly through digital marketing means like social media, content marketing, videos, and SEO.

Marketing should not be seen as a cost to the business, but as an investment, which ultimately comes down to how well you can plan your marketing strategy and how quickly you can learn from results as you undertake it.

But any marketing activity takes time – and for the cash-strapped small business owner, time is money.

To ensure your marketing efforts are worth the effort, concentrate on testing and fine-tuning, and make sure you’re getting a measurable return on time and money.

When you don’t have a big budget for marketing, it’s tempting to try anything and everything because any effort is better than nothing.

But lack of spending opportunity is not an excuse for scattergun marketing. Anything you do can and should be planned and measured.

Here are a few cost-effective marketing strategies if your marketing budget is tight.

Traditional Marketing

Most companies question if traditional marketing is still around. Yes, it is.

You can traditionally market your products through TV adverts, billboards, flyers, business cards, and newspaper releases.

Why Is Traditional Marketing Important?

Traditional marketing is still as effective as ever. It is crucial to any marketing strategy. Especially for small businesses and startups, one should never downplay traditional marketing.

The reason is that traditional marketing has a way of influencing a specific audience that digital marketing cannot reach.

Many companies have recognized this and have started organizing meetups and events to market and grow their businesses.

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Digital Marketing

Digital marketing uses online tools and platforms for advertising businesses and products.

Content Marketing

Content has been the king, and it helps drive any business’s marketing campaign.

The simplest approach is to manage an on-site blog, adding new content that informs your readers uniquely and practically.

Infographics, instructional videos, and podcasts all belong to the content-marketing category.

Pay-Per-Click Advertising

Pay-per-click ad solutions are available which are budget-friendly for a startup. On Facebook, you can pay as little as $1 a day for certain ads.

You might as well invest in improving your search engine optimization (SEO).

You should try using online tools like Answer the Public, Animalz Revive, and CanIRank that could attract high traffic to your site.

Try looking for ad promo credits wherein some web hosting services offer advertising discount codes as part of their membership offerings.

Videos

Videos are one of the most effective tools in your marketing campaign.

You can either create them in-house or outsource them to another company specializing in creating high-quality video content.

Video marketing is well worth the price because videos will increase your brand’s visibility, help you retain existing customers, and engage your target market while driving lead generation.

Whichever option you choose, videos are a great way to engage your audience visually and increase your brand’s visibility.

Social Networking

Using social media may seem like an obvious solution, but the benefits of social media as a marketing platform cannot be overstated.

For starters, a base account on almost every platform is free to make, and it gives your customers and potential customers an easy line of communication directly with you

A few hours set aside each week to be active on social media can build strong customer connections.

Choose just one or two suitable social channels, rather than spreading yourself too thinly, and ensure you regularly update so that followers don’t drift away.

Respond to queries by taking the time to answer questions on platforms like Quora, Facebook, LinkedIn or Reddit, and similar venues.

This method can get you noticed by an entirely new audience.

For instance, you have a Facebook page, and if a customer criticizes or asks you some questions, do respond as early as possible.

This increases your authenticity among customers.

Use Facebook, Twitter, LinkedIn, and other such platforms to share your knowledge and expertise and a little about who you are as a person.

Your customers can post images or reviews of your products on their page, showcasing your company to all of their friends or followers.

Whether through organic posts or cost-efficient ads like influencers, social media marketing can get you the attention you need.

Take advantage of trending topics, hashtags, community groups, and influencers who fit in with the image you have created.

Start filling your sales pipeline today

Social Media Contests

Social media contests make a low-cost way of building brand awareness and even generating leads in the market.

Your contest prize should appeal to your target audience enough such that they will perform the call to action.

The number of participants and new potential leads you get will be worth the price.

If you’re not sure where to start, consider trying Shortstack.

You can run everything from Instagram and Twitter hashtag contests, to Facebook giveaways. It can also be used with other platforms like Pinterest.

Other alternatives include Wishpond and Agorapulse.

In-Person Events

Perhaps a small business would like to hold a conference to increase the visibility of their firm and draw advertisers.

But, one small business would probably not have the marketing budget necessary to finance such a conference.

If several complementary small businesses got together, they might be able to manage the costs of the conference and draw advertisers to the event.

It would be a win-win situation for everyone.

You do not always have to organize promotional events to market your product or service. You can also sponsor events or attend events as a guest to market your brand.

This will even save you more money while achieving your marketing goals.

Business Partnering

Advertising isn’t always easy, and it also isn’t always cheap. That is why a bit of cross-promotion can go a long way!

Finding other businesses that pair well with what you do best can help you reach new customers and increase brand awareness.

For example, some breweries have local food trucks on-site for their customers to enjoy, and some local sandwich shops name their sandwiches after local businesses.

Small businesses with low or non-existent marketing budgets can organize a partnership and pool their money to make good things happen.

You could even run a promotion with your partners to hand out your promo cards if their customer spends money on your product.

Google Adwords And Coupon Deal Sites

With the capability to quickly promote business, coupon deals sites enable you to offer limited-time discounts to new customers.

Search Engine Optimization (SEO)

To help your website rank highly on search engines, you can do basic optimization yourself without much expertise – although investing in professional help may bring better results and a higher return.

Knowing how SEO works is crucial for this to work because you have to use keywords peculiar to your business in those contents strategically.

With the right content, you can increase the traffic on your website and convert your leads at zero cost.

Email Marketing

Email marketing remains the most effective, oldest, and cheapest means of advertisement.

According to studies, email marketing generates the highest ROI for marketers across all industries.

This is a low-cost way to stay in touch with interested customers, keep them up to date with your news, and offer exclusive discounts and other incentives.

Start filling your sales pipeline today

Calls To Action

Once you know what kind of content your target audience is looking for, use calls to action to generate leads and position your company as the solution to their problems.

Your CTAs should guide interested parties ready to establish a buying relationship.

Create CTAs through HubSpot and use action words like “contact us,” “subscribe,” and “download” to get potential clients to click on your CTAs.

Press Releases

Press releases are a cheap and reliable way to update your audience on your clients’ successes and can be written by staff members.

Key Metrics

When you see a campaign suffering, you can detect which touchpoints turned the customer off and adjust that landing page or email to be more appealing.

Acknowledging and using key metrics enables you to allot resources to the working marketing channels and tactics.

Tracking success also helps you replicate it more readily in the future to connect with prospects sooner.

Referrals

Create a flow that lets your customers do the marketing for you. People are more likely to buy a product when referred to them by a friend.

You could offer your current customers a discount on their subscriptions in exchange for referring a new customer or offer a cash reward.

Also, who is better suited to obtain referrals than your current staff? Your team players know your product or service apart from your customer base.

With discount offers or rewards on referrals, you can get more people to participate in the promotion and yield more sales for your business.

Google My Business

Get your business on ‘Google My Business’ to gain local leads for your business.

With your business listed, you can stand a chance to appear in the top brands in the local search results.

Again, you have to optimize your listing by using keywords that point to your brand. It costs nothing to get your brand listed.

Webinars

According to a report by Ethical Corporation, creative and long-term marketers will be increasingly reliant on webinars to ensure sales pipelines.

The popularity of webinars was already rising before the current pandemic.

Before the Covid outbreak, InsideSales reported that 73% of marketers and sales leaders find webinars one of the most reliable ways of generating quality leads.

Why Are Cost-Effective Marketing Strategies Important?

The key to any small business or startup is maximizing their ROI in the most cost-effective ways possible.

Without marketing, companies won’t thrive, grow, or increase their revenue which is dangerous.

Even if it’s low-cost, marketing can provide insurance and peace of mind for professionals.

There is no advertising better than free advertising.

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