4 Cost-Effective Marketing Tips for Small Businesses

Many SMBs can’t afford to splash out on their marketing, and that’s OK.

But, neglecting it completely won’t get you very far either.

There are many other companies which offer the same or similar products and services, and if you don’t promote your business, it will be next to impossible to find your place under the sun.

Word of mouth can bring you a couple of customers, but you can’t rely on solely on this tactic.

Luckily, you don’t need big bucks in order to reach your target audience and be on their radar.

These 4 cost-effective marketing tips will help you put your business on the map without draining your budget.

Produce Great Content

Content is one of the most cost-effective marketing strategies, and yet it manages to yield amazing results by generating three times as many leads as outbound marketing while costing 62% less.

People have become very skillful in avoiding ads, which means that traditional, intrusive advertising methods don’t work.

On the other hand, instead of flooding your target audience with ads and commercials that they can easily ignore, you can attract them by creating superb content that they will be genuinely interested in.

No matter what your business is, you can offer some useful tips and advice to your potential customers and help them solve their issues through your content.

How-tos and different guides provide value to your audience without asking for anything in return, and they can bring you a lot of digital as well as foot traffic. Besides, once your prospects who frequently visit your blog in search for answers to their questions are ready to purchase, they’ll be more likely to opt for your company.

Blog posts are the most popular type of content, and when supercharged with SEO, they can improve your rankings and boost the visibility of your company.

Visually oriented content has become increasingly popular mainly because of the fast-paced lifestyle and hectic schedules which render people too busy and tired to focus and read long blog posts. That’s one of the reasons why infographics should be frequently featured on your website.

These colorful, easily-digestible representations of data and stats are shareable and attention-grabbing – people who follow directions which consist of both text and illustrations perform 323% better than those who follow textual directions with no illustrations.

Including video in your content marketing strategy is a smart move. Your audience will be able to consume your content even when they’re doing something else or commuting to work. Besides, video is one of the most engaging formats capable of holding people’s attention much longer than any other content types.

Attend Industry Events

Networking is essential for the growth of every business.

LinkedIn can be a great way of connecting with your prospects and people from your line of work, but small businesses can also greatly benefit even more from offline networking.

Conferences, meetups, fairs, and trade shows are excellent not only for keeping up with the latest trends but also for showcasing your products or services and allowing your prospects to try them out in person.

So, prepare for these events properly and make sure that you create branded stands and banners which will catch the eye of the other attendees and visitors, and promote your business in the best possible light.

Apart from being in attendance at these events, you should also think about becoming a speaker. This way you’ll establish yourself as an authority in your niche, which is great for your business.

In-person connections can be tremendously powerful and you can even strike up some valuable friendships and partnerships by regularly attending conferences and meetups. Face-to-face interactions are crucial for building and maintaining genuine and meaningful relationships, and that’s a must for growing your business.

Leverage Email Marketing

This is an old-school tactic which still works like a charm.

Although some marketers claim that email marketing is dead, that can’t be further from the truth. The problem usually lies in bad data, ineffective email copy, and flooding recipients with tons of irrelevant messages.

If done properly, email marketing is one of the most effective strategies – its ROI is 3800% which means that you can earn £38 for every £1 you invest.

Just make sure that you’re GDPR compliant.

Whenever a new visitor shows up on your website, offer them to subscribe to your newsletter and start building your contact list. You can also offer access to gated content to prospects who are willing to give their contact information.

Email marketing is excellent for nurturing your prospects and informing them about product upgrades, new features, as well as the latest releases and services that you’re offering.

The trick is to ensure that your efforts revolve around your audience, their issues, and interests. In other words, don’t push your agenda and blatantly promote your business. Instead of that, ensure that every message you send them provides value.

Don’t simply brag about how great your products and services are – align them with your prospects’ needs, and instead of features talk about benefits.

Also, share valuable and helpful content relevant to your recipients even if it’s not yours. That way, you’ll show that your intention isn’t only to make your prospects pull out their credit cards, but that you actually care about them.

Use Social Proof  

Most people read online reviews before making a purchase. It’s clear that they’re more likely to trust other people, even those they don’t personally know, over branded messaging.

So, by encouraging your happy customers to share their testimonials and talk about their positive experiences with your company, you’ll convince your prospects that they can expect the same.

This tactic is very effective and persuasive although it won’t cost you anything at all. But, there’s nothing wrong in incentivizing your customers in exchange for their sincere opinion about your business.

Place these testimonials throughout your website – on your product and landing pages, as well as on your home and checkout page.

Online reviews are another powerful tool for boosting your credibility and trustworthiness.

Customers are more likely to spend 31% more if a business has excellent reviews. The sight of five-star ratings next to your business’ name is a make-it-or-break-it factor when it comes to making a purchasing decision.

Finally, online reviews make you more visible and expand your reach, as search engines take them into consideration when indexing relevant results.

These 4 tips will help you promote your company without breaking the bank, as they don’t require large investments and yet you can expect that the first results will be soon visible.

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