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No matter what industry you work in, marketing is essential. Big and small businesses have to rely on marketing campaigns to draw in new customers as well as retain existing ones. If you have a small marketing budget, you may feel like there’s not much you can do to market effectively. Fortunately, that’s not true. By using your limited marketing budget effectively you can still get great results to achieve your business goals. Read on to learn how to get more out of your budget.

First off, have a budget

One of the most important parts of an effective marketing strategy is a budget. There is a wide range of marketing tools you can use for any business, but the budget you establish for your marketing strategy can help direct your efforts more effectively. For example, if you have a small budget, you may need to use more free channels in an attempt to yield the results you’re looking for. Conversely, if you have a large marketing budget, you have the flexibility to do more, including trying paid channels as well as things that may not be as effective. If you want to increase the effectiveness of your marketing strategy, start with your budget.

 

Utilize free channels strategically

Even if you have a large budget for your marketing, you shouldn’t ignore free channels like social media, email, and blog content. These channels can be just as effective as paid channels if you use them correctly.

The goal of social media is to foster conversation. Businesses that use social media can create a more personal relationship with their customers. Not only can customers get the information they want and need, but you can directly answer unique questions they have about their experiences and needs. This can help customers feel more valued when they shop with you.

Email and blog content can be a good way to address customers’ pain points and solve problems. Email is also a good way to make announcements and provide offers to loyal customers. It’s another way to connect with your customers on a more personal level and build a positive relationship for them.

Your blog is a great place to answer frequently asked questions and help prove your authority in your industry by showcasing projects, success stories, and adding valuable tutorials your audience would get tremendous value from.

While you don’t have to use these free channels, there’s no reason you shouldn’t take advantage of them to reach your target customers. However, if you use them, be sure to learn all you can about how they work so you can use them just as strategically as any other marketing outlet.

social media marketing budget

Use an email list

As a free channel, you may think email is simply a way for you to communicate with existing clients but email can be so much more than a communication tool for your current base of customers. If you capture someone’s email address, that usually means they have expressed some level of interest in your products or services. They may sign up for your emails through your website, download a free offer that requires an email or provide it when they purchase something.

Once you have an email address, you can use it to stay in contact with customers (and potential customers) through some form of marketing automation. Staying in contact with customers will keep your business at the top of their mind so they think of your brand when they need products or services like yours. Remember: you own your email list. Growing your list is like growing an asset for your business. Once you have that list, be sure to use it! 

Learn about Google Ads

Google Ads are a good way to maximize your ability to put your information in front of customers based on certain keywords and phrases they search for. Targeted keywords are used so your ads show up when people search key phrases. However, Google Ads can also be a big money suck if not done properly.  If you are interested in using Google Ads, it’s important to invest wisely. That may mean hiring someone to handle the ads or taking the time to do the research needed before placing the ads. By doing the necessary leg work upfront or hiring an agency, you can ensure your ads are effective and you can get the results you need to make the investment worthwhile. Once the ads are working for your business, the return will more than makeup for the investment in education or Google Ads management. 

 

Track metrics

Once you have a marketing strategy in place and start using the tools, it’s important to track and analyze metrics. The specific metrics you track will depend on what you’re trying to accomplish with your marketing strategy. Do you want to convert visitors into customers? Do you want to capture new email addresses? The goals you set for your marketing strategy will help guide the types of metrics to track.

Along with tracking numbers, be sure to take the time to look at the numbers on a regular basis. Look at how campaigns perform, particularly in comparison to previous campaigns. You’ll be able to use this information to identify trends in your marketing efforts. The more information you gather, the easier it will be to see what’s working and what’s not. If something isn’t working, don’t think you have to keep using it because other companies do. Focus on what’s working and go all in! 

No matter what you’re trying to accomplish with your marketing strategy or what size budget you have, you can maximize your marketing campaign results, with a little planning and strategy. The key to success is using your marketing outlets effectively, learning what works, and capitalizing on the right opportunities in the right ways. With the right strategy, you’ll be able to get a great return on marketing investment whether you use lots of paid marketing outlets or rely almost solely on free channels.

If you’re working with a limited budget and want some help getting the most from it, Contact Us drop us a line!