5 Ways to Market Your Small Business on a $100 BudgetMegan Totka
Like most small businesses, you probably have limited funds to put towards your marketing strategy. However, even $100 allocated to your marketing efforts every month can still support a robust marketing plan – and grow your business. Take a look at these five ways you can distribute $100 or less towards your marketing budget:
Research Your Market
Take time to identify your target market and the characteristics that describe your prospective buyers. Make sure marketing messages hone in on specific buyers to appeal to and engage those individuals.
At the same time, take a look at what competitors are doing and figure out ways to make your business stand apart from them. You don’t want to head off with a competitor in an area where they are better established because then you may lose your business. Take the time to analyze the field and figure out their areas of weakness. This will allow you to identify opportunities that will help your business have the opportunity to grow.
Turn Up The Emails
Email marketing platforms cost less than $50 per month – and they work. It doesn’t matter the industry or the size of your organization; marketers cite email marketing as the avenue that products the highest return on dollars invested. According to ExactTarget.com, marketers receive approximately $44.25 for every $1 spent on email marketing. This form of marketing is the perfect path to take to generate revenue.
Ensure You Deliver Speed
It’s essential to engage and convert your visitors and the faster you can do it, the better. Consumers often head right to the Internet to start to search for a product, service or business online. Make sure that prospects who find your website can quickly see all of the information that they need in order to turn them from casual browser to a buyer. To do this, your website needs to be able to identify the type of device they are using when they land on your website. For a few dollars a month, you can build a semi-customized mobile version of your website on a site like Duda. This investment will likely pay off in improved engagement and increased conversions.
Use Serious Social Strategy
One of many easy marketing hacks to build your business on a budget is to invest some money in sponsored posts on social media platforms Facebook or LinkedIn. This will put your products or services – and your brand — in front of the eyes of hundreds or even thousands of people who are your target audience every month. You may wonder how to get started with social media in your business. It’s important to know that a small investment in social marketing can also lead to new followers, increased web traffic, brand awareness and likely profits.
Broaden Your Reach
Small business owners can see great benefits from establishing casual partnerships with other small businesses. Doing so is beneficial because it allows for cross-promotion of your business. If prospects allow, you can share your contacts with other business owners whose target markets coincide with yours. For instance, a photographer could have a partnership with the owner a shop that sells baby accessories. This can help boost brand awareness and simultaneously nurture your business much more quickly than you could do on your own.
Even if you have a shoestring budget, your small business can still find ways to build a powerful marketing strategy that leads to success.
How has your small business grown a robust marketing plan on a budget?