The marketing department is one of the key departments within your business. Knowing how to send the right message, and pay for it, can be tricky. Hence, people need to understand how to make the most of their marketing budget. The following information will show you inexpensive marketing ideas, how to make the most of your money, and how to stretch your budget over several tasks.
Inexpensive Ways To Market Your Business
Marketing on a budget is easier than you think. Once you determine your needs, there are several inexpensive ways to market your business. (1) First, use your email contacts. You’ve got lots of contacts, so use them to get your message out.
Next, post interesting content for your audience on your website using keywords that everyone knows. Doing so builds the conversation around your company.
You should also network with your community. Meeting as many people as you can will help them know who you are, and what your company does. This will make your company’s name well-known, which helps build your brand.
Lastly, take advantage of social media. Find someone within your company that knows how to use every site available. While some may use Twitter, and Facebook, others may use Instagram, or other sites. It doesn’t matter. In order to reach your biggest audience, you have to reach everyone. That means representing yourself on every one of them. That way, people see your message regardless of what they use. Inviting viewers to your other pages will help the discussion grow.
Make The Most of Your Marketing Dollars
Sending your message is important. But, remember to be smart about it. (2) Making the most of your money takes public relations, teamwork, and understanding feedback.
Make sure your staff is working your public relations (PR) muscles. You need to go out there, and pitch to reporters, post blogs, and stay current on your social media pages. Continuing to do so will help the public relate to you better.
You also need to partner-up with similar organizations. As they say, “no man is an island”, and neither is your company. Feed off of each other to help send the best message to your customers.
However, you also need to keep in mind another saying – “less is more.” There will be times when the industry you’re in goes through shifts that you can’t change. It’s during those days when you need to be patient, and realize that sending a message now may not help the situation.
For example, when the housing bubble burst, realty companies knew that everything was changing. So, they waited to see what happened, and based decisions on new information.
While your industry may not need to wait for extended periods of time, it is beneficial to know what is happening in your industry, and your neighborhood, in order to make your next move. After all, the information you get now will serve everyone well later.
Stretch Your Budget
Once you have the needed information, and know your budget, you can start stretching your money appropriately.(3) Doing so will allow you to fund every task in a beneficial way.
For example, consider the price of advertising. If you combine your ads with inexpensive literature that can be modified later, such as brochures, you will send the same message for a much lower cost.
Using freelancers will also help you save money. If you need to create a newsletter, or just take a few photos, he or she can do everything for a smaller salary.
Remember to be consistent. Your message may be modified, but it won’t change too much. Therefore, much of your material can be reused multiple times. Recycling the material will save time, expenses, and the environment.
Conclusion
Understanding how to get the most from your marketing budget can be difficult to figure out in the beginning. But, knowing your industry, and your neighborhood will help tailor your message to your customers. As a result, your company’s customer base will grow in no time.
Sources:
1. Mulligan Funding: “15 Inexpensive Ways to Market Your Business”
2. Forbes: “How To Make The Most Of Your Marketing Dollars” https://www.forbes.com/sites/forbescommunicationscouncil/2017/02/14/how-to-make-the-most-of-your-marketing-dollars/#52da7f952d16
3. Enrepreneur.com: “10 Ways To Stretch Your Marketing Budget”
