For any business, marketing is a significant, and necessary expense. Some marketing channels are highly effective and can generate lots of business, others are, quite frankly, a waste of money.
Big corporations can usually afford to cover all their bases, advertising in nearly every area they can think of, and eliminate as they go. As a small business though, you need to be sure that your marketing is actually bringing you business, and that it’s not just a drain on resources. Here are a few marketing techniques that won’t break the budget, but will bring in business.
You might not have thought about it, but your company logo really is an important part of marketing. People remember images a lot better than they remember words, so your logo is what they’ll remember and associate with your brand. Make sure you have the best logo design possible.
Social Media Marketing
Social media is a relatively inexpensive marketing medium. A page for your business won’t cost you a dime, but it will help people find your business and keep your existing customers engaged and interested. Sponsored ads on Facebook and LinkedIn aren’t too pricey and allow you to target who you advertise to based on their age, gender, location, interests and more. Given the amount of time most people spend on social media, this can be a great way to generate business.
Running competitions and promotions on social media can be a great way to grow your following. Make sharing or following part of the competition – “like our page to enter”, extra entries, discount codes or vouchers for every share and so on.
The great thing about email marketing is that you can grow your marketing as your business, your revenue, and therefore your marketing budget grow. A 2014 study showed that marketers averaged just under a $45 return for every dollar invested in email marketing, one of the highest marketing returns. You can market directly to your existing client base yourself, or invest little by little in an email marketing company, who will likely have a database specific to your target market.
Whether it’s a blog or a newsletter, good content is great for business. It will generate traffic for your website and keep clients and potential customers interested. Share your content via social media or as part of your email marketing campaign to expand your reach beyond your website.
If you have a knack for writing, you can create your own content, or hire a freelancer to send you content on a regular basis. Bear in mind, your website design can be just as important as the actual content, so make sure it looks good, is user and mobile-friendly.
As a small business with just as small a budget, start with low or no-cost marketing that works. You may have to put in a lot of time and effort in the early days, but it will definitely get easier as your business grows.