To know the most cost-effective marketing strategies for your business is a no-brainer, right? The days of leaflets through the door and telephone books are over. And today, these methods have been replaced by SEO, social media and influencer marketing.
It’s great to know the best ways to grow your business using these tools. Below, we’ll examine a few highly affordable marketing tips and strategies to help businesses optimize their marketing efforts for today’s modern digital landscape!
Tip 1 – Influencers
It is impossible to anticipate the impact a friendship or relationship could have on your business’ success. It is essential to utilize your existing relationships to your advantage while identifying those who could positively influence your business.
Once you’ve recognized those individuals who could serve to grow your business via their online presence, there are a few things you can ask for:
- You can ask them to share or like your posts to increase their engagement.
- Get them to post a photo sponsored by you, in which you send them a sample of your product, and they give it an honest review on their social media page.
Additionally, it would be best if you always were reciprocal in these relationships. For instance, if someone agrees to give like and share your content, you should, at the very least, be willing to do the same for them.
Tip 2 – Email Marketing
Email marketing campaigns enable you to speak directly to your potential customers. They are highly cost-effective and have a great return on investment. In fact, according to Hubspot, a properly segmented email campaign can help you reach as much as a 760% increase in generated revenue.
However, this is reliant on you having a list of email addresses of your target audience, who, ideally, have already opted-in to receive your emails. You can collect email addresses through your website and social media pages.
Tip 3 – Search Engine Optimisation
When done correctly, SEO can lead to excellent outcomes for your business. This process of optimizing your web pages and online content is used to directly target the individuals who are already searching for specific keywords that relate to your service or product.
Essentially, SEO involves:
- Keyword research
- Competitor research
- Content marketing
- Link building
- On-site optimization
- Content distribution
Blogging is a critical element of SEO. Having a relevant, readable, engaging blog is an effective method of increasing engagement with your website while also getting the most pertinent keyword terms onto your pages.
Tip 4 – Social Media Marketing
Social media is one of the most cost-effective digital marketing tools. However, it takes time to develop your social media skills. While promoting your brand or organization on social media isn’t expensive, it is costly in time.
Social media is excellent for micro-targeting specific groups using the built-in ad services on both Instagram and Facebook. It is also highly effective for targeting a broad audience on a low budget.
Tip 5 – Content Marketing
Content marketing involves creating different types of digital media and distributing it to your target audience. This includes:
- How-to guides
Once this content has been created, you need to distribute them strategically to reach your audience. Content marketing is far cheaper than other marketing methods – up to 62% less in some cases.
But don’t forget that a successful content marketing strategy will involve a bit of branding, which includes creating a brand style guide and a unique logo design and other types of appropriate imagery.
Tip 6 – PPC
PPC may deter those with a smaller budget because it requires payment. But when properly planned and implemented, PPC campaigns can be highly effective without breaking the bank. For instance, you can set a maximum ad spend with your budget split between social media, retargeting and google ads.