Social media has opened up a whole new world of opportunity for businesses as well…
How to Best Optimise Your Small Business Marketing Budget
If consumers aren’t aware of your business and offers, your business won’t thrive no matter how good your services or products are.
The current economic climate is very competitive, so it’s necessary to spread the word about your business. However, because of budget restrictions, Small Businesses can have a hard time doing this. Hiring a digital marketing company to provide a detailed marketing plan can be expensive, but thanks to technology, Small Businesses do have the opportunity to leverage all the powers of digital marketing.
There are so many different access points for consumers, so creating a good, targeted marketing campaign has never been easier. Of course, if you don’t know what to do, it can be confusing, which is why we have compiled some of the best ways to optimise your Small Business marketing budget.
Things don’t need to be expensive, and you can keep your marketing budget small with these marketing tactics:
With this mobile marketing technology, you’ll be able to advertise your business to nearby consumers, by covering the service area around your shop. Geofencing comes with a great return on investment (ROI) in the long run, even if it requires a somewhat larger upfront investment.
What you need to do is make a mobile app that comes with a mobile geofencing feature and get your customers to install it on their Android phones and iPhones. This technology is also used for targeting those who are already in the shop, advertising additional sales and discounts to them.
2. Social media.
Social media platforms are perfect for small businesses, which is what most marketing strategies are focused on today. They don’t require much investment, and the thing is; you’re probably already savvy with using them. Besides Facebook and Twitter, which you may already have, there are other platforms like Instagram, Pinterest, and Google Plus.
Remember that you shouldn’t create and run a profile on all of them because not every platform will suit your target audience. The best step for entering the world of social media marketing is Facebook Ads.
Combine a Facebook Ads campaign with Ads Manager or Power Editor, back it up with a solid strategy, and use their great targeting options that are perfect for narrow targeting. Set your ads to target a particular location that your audience has recently visited or target your audience according to where they live.
3. Community work.
Small Businesses depend on local consumers. By giving something back to their community, through community involvement, you will build a relationship with your customers based on trust and respect. This is why community work costs should also be included in your marketing budget. Don’t think that this is only done by big corporations, because you can use it as well, to spread your local brand awareness.
The best way to do it, is to fund a local event, but if you’re short on funds, you can take advantage of many different marketing options that won’t cost you much. Giveaway promotional items with your business logo like branded shirts, pens, notebooks or inform the community by setting up a booth at a local event. In order to earn the appreciation and respect of your customers, you need to give something in return. Get involved on a small scale and increase your investments when you’re sure it will provide enough ROI.
4. Free public relations.
We can’t stress the importance of networking and relationships enough. In order to generate good public relations, start by finding out where and when the local journalists gather. Reach out to a few of them directly, speak about your business, get to know your contacts, and when the time is right; ask for an opportunity for an interview (whether in print, on the radio or TV).
Try building your marketing budget from back to front. Start at the end, consider your business’ overall goal, and understand that your marketing goals should be more varied than just ‘increase sales’.
What is the result of a successful marketing campaign? If, it’s increased revenue, paid search and other targeting options combined with social media would be an effective strategy. On the other hand, if your overall goal is raising awareness, investing more time in social media and other free marketing options might just be enough.
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