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May 15, 2020

How to Market on a Budget

It’s clear that the economy has been crippled by the recent pandemic and many small businesses are hurting because of it. In order to curtail company spending, leadership often makes large cuts to the marketing budget during hard economic times.

 

However, this does not mean you can or should stop marketing. In fact, companies that continue their marketing efforts during times of economic crisis have steadied or even increased sales. Take the time to review the budget you do have to ensure you’re using it the most efficient and effective way possible. Here’s a few tactics to help you market on a tighter budget.

 

Quality Content

It should come as no surprise to anyone that quality content is important. Marketing revolves around content, so when you’re operating on a small budget, quality is paramount. The content must be useful to the consumer while also being easily digestible. Find out what your audience needs and make sure you are supplying them with valuable information to meet those needs.

 

Research is an important part of creating quality content. A reader can go anywhere to receive content, so why should they consume yours? Providing sound information backed with research and complemented with your own perspective via anecdotal experiences or exclusive company data adds value to the content and establishes you as a unique source of information. Once you’ve done the research necessary to write or speak intelligently about your content topic, figure out the best way to deliver it to your audience.

 

With technology advancing faster than we can blink, there are so many mediums to choose from with little to no cost (i.e. infographics, podcasts, videos, blogs, newsletters, live stream, etc.). It’s important to think about your topic and who is your target audience when determining how to deliver the content. Some people are likely to interact with a particular medium more than others. For example, podcasts are generally listened to by a younger audience. 84% are under 55 years old according to Edison Research. If your audience skews towards an older demographic, podcasts may not be the best place to reach them.

 

Like beauty, the value of your content is in the eye of the beholder. Your audience determines how much value they received from the content and the overall quality of it. If you don’t deliver your content to the right audience, they find no value in it. Choosing the right content for the right audience is about knowing who will receive the most value from it and delivering it to them in the medium that they are looking for.

 

Social Media

Social media is a great tool for marketing on a budget. It allows you to create a following of engaged users and distribute your content to new masses. The best thing about social media is the constant development of new platforms and the reach it provides. Whether you’re looking for an older audience on Facebook or a younger one on TikTok, there’s a platform available that is right for your target audience.

 

There are two ways to reach users on social platforms. One is known as an organic reach. You are directly engaging with consumers without using money to reach them. You should create engaging, quality content that attract users to follow you. More followers mean more reach and hopefully, more engagement.

 

Engagement with your audience is one of the most valuable resources you have. Interact with them via comments, likes, direct messages, etc. and create personal connections with your followers. They respect the time it takes to do that, and it won’t be forgotten when they discuss your business. People are more likely to trust the recommendation of a real person whether that is on social media or on a blog. A suggestion from a friend about your business goes a long way.

 

The other way to use reach users is paid promotion. This includes paid or boosted ads on social media. Paying for ads on social media is a good way to stretch your dollars because it’s much cheaper than advertising on broadcast or radio and it allows you to target specific audiences based on demographics, interests, etc. more effectively.

 

As your audience grows, you can utilize their influence more. User-generated content on your social media platforms is a great way to expand your reach. This method basically lets users create and distribute custom content for you cost free. Not to mention, this content can seem more authentic to users than a traditional ad. To do this, you’ll need to create a call-to-action that gets your audience creating meaningful content for your business. Look to other companies for inspiration, but it’s important to make it relevant for your service or product offerings while putting a personal touch on it.

 

People are always looking for something new and different. Give them a reason to interact with your company. A base of followers is just a long list of potential sales. You can use your profile as another platform for selling while also increasing your brand awareness to a larger audience. The more recognizable your brand becomes, the more trustworthy you become to consumers. People will always buy from the companies they recognize and trust.

 

SEO is Gold

Search Engine Optimization (SEO) is your best friend when it comes to low budget marketing. You can do everything above but if you ignore SEO, no one will find your content. So, what is SEO? It is designing your website and content to be relevant and easy for search engines to find. Since Google has more than 90% of the searches on the internet, most of the SEO guidelines are tailored to their methods. Implementing these methods are often very low-cost. Let’s walk through the basics.

 

Keywords are the “key” to everything (pun intended). Keywords are the words the user will search. For example, if I wanted to find a coffee place to go to, I’d search, “coffee near me.” This is just one combination that someone might use, your job is to account for as many keyword searches as possible, both short and long tail. Think about the keywords people would use to find your company and try to be specific as possible.

 

The next step is understanding the technical side of SEO. Google has to find your website, search the content on the site/page, and then index it on their own search engine. In order to do this, Google sends out “crawlers” which find and catalog your site. This means you should have relevant content via your keywords for them to catalog. You don’t want the crawlers to bring something to the users that is irrelevant to their search; that’s why a good understanding of Hypertext Markup Language (HTML), the code used to create that your site, is helpful. Doing the research necessary to master and implement SEO best practices will bring more users to your site and help generate stronger sales leads for your business.

 

Ultimately, there are so many clever ways to successfully market your business while on a tight budget. Do the research and think outside of the box to stretch your marketing dollars because marketing is important to your business. It’s as important as the business itself.

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