7 Low Cost Marketing Ideas That Can Make a Huge Difference
This is a "back to basics" article covering low cost ideas for marketing your business. These aren't new ideas, but ones I want to share (maybe again) because so many of us forget them and and fail to use them to the fullest.
Whether you have a limited budget, a tiny team, or a lack of direction, ideas like these seven can get your marketing efforts moving to help you scale your business online.
Idea #1. Clearly and Concisely Identify and Understand Your Audience
Please do NOT assume everyone is your ideal customer. That is a critical mistake. Doing that is like flushing money down the toilet. It's possible that larger enterprises really do want to reach a mass audience, but the phrase "the riches are in the niches" should be the driver for any small business owner.
Appeal to a very specific core audience. Put yourself in their shoes and ask:
- What are their pain points?
- What pushes them into a purchasing decision?
- What solutions can you provide your customers?
I can't tell you how often I work with clients and "force" them to really ask themselves this question. Many times there is pushback, but when I get them to investigate this honestly, they discover some very valuable information. This then makes the next steps in targeting these audiences so much easier.
Idea #2: Highlight Your Value Proposition.
There is no compelling reason for a buyer to engage with you if they can't tell the difference between you and your competition.
Answer the question, "WHY are you better?"
Your answer should set you apart from competitors in your industry and convince prospects that you are the solution they should choose. Your value proposition should set you apart from competitors in your industry and convince prospects you are the solution they should choose. What are you better at than anyone else in your field? Your audience MUST know.
Idea #3. Focus Intensely on Your Goals and Objectives
It's tempting to try to do everything all at once. I've seen business owners building a complicated marketing machine hoping to covering all their bases. It's really easy to take on too much at once and then nothing gets finished.
Idea #4. Setup the Fundamentals
Let's be honest Search Engine Optimization (SEO) takes time. It is, however, very much worth the time and effort it takes to do it right. But from the very beginning, you at a minimum should at least let Google know your business exists.
So make sure you implement the very basic website optimization steps and one step I see a lot of small business owners miss is setting up their Google Business Profile (formally Google My business).
Idea #5. Profit from Short-Term Plays.
Investing in a Local SEO campaign is normally a smart move but if you're just starting out, you won't see a return quickly enough if SEO is your only main focus. Strategies that take time to grow (like SEO) are poor fits in this case.
Paid Ads offer a much faster ROI, have great training resources, and right now you can get free advertising credits valued over $100 just by searching for "free google ppc credit"
If research shows that that people are searching for your specific solution on Google with the intention of buying it, you may find that paid ads will give you that short-term ROI.
Idea #6. Double Down on What Is Working
Once your efforts are up and running and you've tried a few different things, pay attention to the statistics. You can learn what's working from this. It's a smart idea to rely on proven revenue-generating strategies as you scale.
Idea #7. Recognize the Importance of Your Existing Consumer Base
The expense of acquiring a new customer is typically five times greater than that of losing an existing one. This means that after they've completed a purchase, you shouldn't stop marketing to them. Identify your opportunities for repeat business, upselling, and cross-selling.
Your current clients already know, like, and trust you. If they had a positive experience, they will statically be more likely to work with you again if there's an opportunity. Having the ability to send out special offers and promotions to existing customers will be a game changer. So make sure you are collecting customer emails.
Honorable mention: Start an Email Marketing Campaign and Generate Leads
Mentioned a little bit already above - Simply because you converted website visitors into leads does not guarantee those leads are ready to buy. It's essential to stay top of mind and move them closer to making a purchase decision.
Having a customer list is gives you the ability to create sales practically on demand.
The takeaway? Start marketing now.
You may have a long road ahead of you but the sooner you get started the faster you'll start seeing results. In the end, there's many ways you can promote your business but no matter what direction you decide, do it with informed data. Smart marketing will help you achieve your goals faster.
We're always happy to have a chat with you, no obligation, to explore how ideas like this can service your business. Reach us via phone, email, website chat or contact us form. Someone on our team will get right back to you.