Often when business owners want to cut down their expenses, marketing is usually the first casualty. However, marketing is a key investment in the sustainability and growth of a business. Without it, a business cannot survive. So how can you keep your marketing budget down while still reaching new and existing audiences? Read on for some simple yet effective guidelines.
Following are several ways to save money on marketing:
Outsource Your Marketing
Hiring in-house marketing experts is a safe option for a business but it is not the most cost-effective one. Hiring a digital marketing consultant agency can be more practical and affordable than bringing marketing in house, considering that they already have powerful tools and the experience required to meet your business needs. There is another option: freelancers. Many small and mid-sized businesses outsource their marketing campaigns to freelancers simply because it is one of the best ways to save money on marketing.
Grow Your Social Media Presence
Social media has been dominating the online space for a while now. For businesses, this is a perfect opportunity to reach wider audiences and increase brand exposure for free. As a business, you can get started by sharing your blog posts and news stories regularly. It would also be a good idea to repost quality content by other reputable resources. There should be content created specifically to be shared on social media. Share quizzes, motivational quotes, real-time stories, short videos, polls, etc. to engage your followers and build strong relationships with them.
Work with Influencers
Tech-savvy customers come across numerous brands every day. Seeing lots of branded content and ads, they don’t know who to trust anymore. Nowadays, it doesn’t matter what you say about your business. What really counts is how others feel about it. This is why word of mouth marketing is so important. An influencer can be a reputable individual in the industry, a social media celebrity, or a blogger with a huge following. People trust influencers and count on their tips in order to make better buying decisions. Reaching out to these influencers is a cost-effective and great way to market your business and boost your online authority.
Encourage User-Generated Content
User-generated content is an indicator of brand trustworthiness for your potential customers. People love to share such content because it makes them members of your growing online community. This makes user-generated content an effective marketing tool for your business. To encourage customers to your share their photos/videos of your products, it is recommended that you create a branded hashtag that they can use. It is also recommended that you consult with a digital marketing consultant to learn about other ways to increase your brand loyalty and have your customers do your marketing for you.
Avoid Costly Advertising
There are many channels of marketing that are simply not worth the cost nowadays. These include web and TV advertising. You should avoid these forms of advertising because they are relatively expensive and generally less effective as compared to many digital marketing methods.
In conclusion, it is possible to save money on marketing. It just requires a bit of research and planning. Following the above-listed guidelines is a good start.