Digital marketing is surprisingly cheap compared to traditional forms of marketing. Still, digitally advertising on scale can pose cost prohibitions on smaller local businesses. Digital marketing is also no longer limited to one or two popular channels. If you want to stay ahead of the completion, your business may have to advertise across multiple platforms. Here’s how you can do that effectively on a tiny budget:
Identify the Channels with the Best ROI Early On
This is obvious to many businesses. However, some businesses don’t consider ROI early in the digital marketing stage. Don’t kick off the campaign by freely spending money on dozens of channels, which would certainly limit what you can do later. Instead, spend a bit of money here and there to first identify which channels generate the most traffic and conversion rates.
You can also analyse the existing target audience data to identify which channels would work best with your base. For example, if you are marketing to other businesses, you don’t need to spend a lot of money on Facebook, which is popular among B2C digital marketers. Instead, find a more appropriate B2B channel, like LinkedIn.
Hire Local Digital Marketing Professionals
Digital marketing experts can help small businesses develop long-term strategies that reduce costs and save time. You may need to hire professionals in case your business lacks the expertise. To keep costs down, partner with local experts. For example, is your website not as mobile friendly as you hope? You can improve its SEO and CRO with a local website designer in Geelong at a reasonable price.
Outsource Content Development
A content strategy is essential for keeping your digital marketing efforts afloat in 2019 and beyond. Content nowadays is highly varied and includes blog posts, social media posts, videos, online testimonials, and online news articles—to list a few. Doing all this in-house could be very costly. You would have to hire a considerable number of content developers.
It’s far more cost effective to outsource all of it. It’s inexpensive to hire freelance writers or graphic designers to get a short project done. You can often reuse this content without having to pay for a full-time hire.
Build a Social Media Presence before Buying Paid Ads
Paid social media ads make up now the backbone on most digital marketing campaigns. However don’t rush to buy ads on Facebook or Instagram. It’s far more important to build a presence and develop your profiles before you start showing ads.
When a customer sees an ad on social media they like, they eventually check out the company profile. If it’s empty or lacklustre, then that traffic is not going to convert, which is essentially a waste of money. Therefore, building up the profile with content is very important for cost effectively advertising on social media.
Make Use of Email Marketing
You don’t need to spend thousands of dollars making expensive online videos when there’s a highly effective and essentially free digital marketing tool at your disposal—email. Building an emailing list is practically free these days. The only money you spend would be for a bulk email software, which are considerably budget-friendly.
Don’t ignore email marketing in favour of fancier channels. Email marketing is highly relevant, easy to personalise, and can reach your customers using smartphones. You can considerably save money by using email as an advertising channel without losing potential customers.
The key to do digital marketing on a budget is identifying what works for your business. Also, don’t ignore tried and tested channels that are cheap but no longer fancy like email. With the above tips, you can keep marketing costs low, but the conversion rate high.