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Where to Spend your Marketing Money on a Limited Budget


Where to Spend your Marketing Money on a Limited Budget
by The Trilojee Team, posted 11/24/2017

Starting a new business can be a really exciting and adrenaline-driving experience. Especially if you’re doing something that you’re passionate about or you’ve fulfilled a career dream. Nevertheless, once the process of transitioning from an idea into an actual business starts, the challenges will begin to appear. You’ll inevitably end up trying to figure out where to spend your business budget most effectively and efficiently.

There are some expenses that you simply can’t cut from your budget, however there are also ones which you can leave for more urgent things. Marketing is the one area that should never be overlooked or left out of your budget. On the contrary, an effective marketing campaign can lead to bigger income, a better position in the market and of course, gaining new customers. If you decide to pay a team of experts to achieve this goal, then you’ll need to open your wallet which can become quite pricey. But, if you don’t have the luxury to afford such a campaign, then you’ll need to turn to alternative strategies and tactics which will help in bringing you closer to your goal and to the point where you can actually afford to hire a marketing team. Exploring alternate marketing strategies can save you money and still help you produce positive results.

HOW TO WORK ON YOUR MARKETING WHEN ON A LIMITED BUDGET?

This is the million dollar question which actually doesn’t require millions. Every company has started from a point where they had to work really hard and be creative to create a brand and grow their customer base. Customers don’t just fall from a tree, you’ll need to work on strategies to attract and convert. Small business owners, young entrepreneurs and startups shouldn’t worry, there are many ways to market your business like a pro and still save some money for other aspects of your business.

LEVERAGE SOCIAL MEDIA

Nowadays we have it easier. Social media has replaced TV, printed materials, meet-in-person selling and beyond. So, why not taking full advantage of the perks that social media platforms have to offer? First of all, perform some cost free research about your target audience’s preference in using social media and then decide on which social media platforms you’re going to advertise your business. For instance, if most of your target customers come mainly from Facebook and Instagram, then you should focus on engaging your potential customers on these two platforms. A successful social media marketing campaign can bring customers straight to your doors and we all know what that means- more sales and profit for you. Ads on social media can cost you little money but the benefits can be enormous. Start by inviting people who you are associated with and then build your followers and likes by posting quality content and offering different and upgraded services. More and more people will hear about your business and the cost will be minimal compared to the results you can achieve.

FOCUS ON RESEARCH

Normally, there are many tools which can help you with all types of research, but for starters, you’ll only need your own research about how to bring your business closer to your potential customers.

-Know your audience. Who will be in need of your product or service? Where can you find those people? How to approach them? All these questions will be answered once you identify your product’s purpose. If you know the people who will benefit from your product, then you’ll have a better idea how and where to target them.

-Once you know your type of customer, do more research to help you with the customer segmentation (age, income, interests, location, etc.). This will help you further clarify what kind of message will resonate deepest with your audience.

-Do a thorough research on your competition. Where do they succeed? Where do they fail? How are you different? Your competition will help you improve your business and normally step it up in your marketing department.

-Do a customer survey or simply use the Facebook Questionnaire Tool to help you get even closer to your customers.

Normally, you can find many paying tools to ease the process, however this can all be done with just a small effort on your part and a lot of research. It’s a small price to pay if you take into consideration the great benefits at the end of the process.

FOCUS ON CONTENT MARKETING

A great way to market your business is by publishing useful and quality content in order to attract even more people to your business. If you’re a writer yourself, even better, if not, there’re a lot of hopeful freelancers out there who will provide you with great content at a reasonable price. Providing relevant content to your audience will help you drive more traffic and help you convert that traffic into paying customers. The story that you’ll tell in those articles will be relatable and informative (or entertaining) for your potential customers.

The next step is to promote that content or bring it closer to your target audience. You can promote your content on your business’ profiles or simply use Facebook.

LEVERAGE YOUR MAILING LIST

E-mail may sound old-fashioned and dated, however you’ll be surprised by the fact that many people would rather receive newsletters, promotions, and all the novelties via e-mail rather than through flyers and printed posters. The dynamic lifestyle itself dictates our customers’ habits and e-mailing someone seems the best way to catch their attention. So, use your existing customers to send out promotional materials or the launching of new products. As a matter of fact, e-mail is even more professional than Facebook or any other social media platform. You can send out e-mails to all the people who are at least interested in what you have to offer and your mailing list can grow thanks to your existing customers and your referrals. You can use a template or simply hire a freelancer to create a catchy and amazing e-mail template.

In conclusion

When it comes to marketing your business, money isn’t the most important thing in the world. The abovementioned tips and strategies for businesses on a limited budget will help you stay in the game even in times when you can’t afford to pay for a pricey marketing campaign.  As a matter of fact, this low budget approach has the potential to do more than just keep you in the game, these strategies will help you to gain the traction your business will need to eventually invest in new strategies that will grow your sales even more!

Wishing you much success!  


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