Marketing strategies can get expensive, but they don’t have to be: an affordable marketing strategy can help you grow your business without breaking the bank. They may require more time and effort, but when your budget is tight enough, a little saving can go a long way.
8 Affordable Marketing Strategies For Your Small Business
Some of the more affordable strategies include:
- Create a branded hashtag campaign
- Publish case studies on your website
- Engage your followers on social networks
- Partner with a micro-influencer
- Start a video series
- Organize a giveaway
- Optimize your website for local SEO
- Run A / B test email campaigns
1. Create a branded hashtag campaign
Hashtag campaigns can raise awareness about a specific cause or content topic. However, when they are unique to your business, it also adds an element of brand recognition. One of the most popular examples is Coca Cola’s #ShareACoke campaign:
To distinguish your hashtag from other more commonly used hashtags, be sure to include at least part of your business name or phrase that reflects your core business values. Next, decide on the type of content you will present in your campaign. These settings should be specific enough to be easily recognizable, but broad enough that your followers want to get involved.
A social media management tool can help you plan your campaign posts, and a tool with social listening capabilities like Hootsuite can help you keep tabs on other users who are also using your hashtag.
2. Publish case studies on your website
Case studies illustrate the effectiveness of your product or service. Especially if you have a B2B audience, your case study can focus on how your customers are able to cut costs, generate more leads, or expand into new markets. Case studies can also take a variety of forms, including videos, infographics, or blog posts.
To get started, find a case study topic whose experience with your business tells an interesting story. Maybe they were able to achieve a major goal through your product or service, or they saw significant results after leaving a competitor. Whatever the details, your case study should appear on your website as a demonstration of how your product or service works through the prism of an existing customer.
Related: The best website builder for 2021
3. Engage your followers on social networks
Engagement might be the most important ingredient when it comes to social media. Impressions alone won’t generate more revenue opportunities nor help you grow your existing audience. Most social media algorithms breed accounts that actively encourage their followers to engage, so prioritizing engagement will benefit your business in more ways than one.
In most cases, this strategy is to assess your current social media content and identify areas where you can invite your followers to take action. Or, you can develop a campaign that focuses specifically on driving engagement.
Engagement ideas might include asking your followers to:
- leave a comment
- Identify a friend
- Give a suggestion
- Click on a link
- Like or share a post
- Make their own message
4. Partner with a micro-influencer
Micro-influencers are the people who are the natural advocates of your business and want to work with you to amplify your message to a wider audience. Micro-influencer strategies typically have high returns, making them an effective use of marketing dollars when executed well.
If you’re looking to build brand awareness and market your business to a new audience, a micro-influencer campaign might be the perfect solution. The cost of such a campaign can vary, but influencers with a smaller, highly engaged audience typically don’t charge as much to promote a brand as those with a large following. Once you’ve found an influencer who might be right for you, work with them to set expectations for budget, creative control, and deliverables.
Read more: Is Micro Influencer Marketing Right For You?
5. Start a series of videos
Video marketing is one of the most impactful mediums for engaging your audience and promoting your business. In fact, Biteable’s 2021 survey of marketers and small business owners found that 74% of marketers say video has a better ROI than static imagery.
A single video can generate buzz around your business, sure, but a well-planned series can build rapport and brand recognition. For example, Warby Parker’s Oddcupations series showed a fun side of the eyewear company brand:
Some companies have astronomical video marketing budgets, but that doesn’t mean you have to spend a lot of money to have an effective video strategy. With a smartphone and a few inexpensive accessories, you can create high-quality videos that show your product in action, share a customer’s testimonial, or showcase your brand in a unique way.
Read more: Video Marketing: A Case For Small Businesses
6. Organize a giveaway
While giving away your product or service may not seem like a great way to close more sales, a thoughtful gift can have an indirect effect on your revenue goals. Giveaways can increase your audience overnight, whether your goal is to get more social media followers, email subscribers, website visitors, or even foot traffic through your doors. . In turn, potential new customers who don’t win the giveaway will be more likely to approach your business in the future.
The cost of the gift depends on the item you choose as the price. The specific product or service you offer doesn’t have to be your most expensive product or service – it can be a limited edition, personalized, or exclusive product. Either way, your prize should be exciting and valuable enough to your audience to motivate them to take the necessary steps to participate.
7. Optimize your website for local SEO
Local Search Engine Optimization (SEO) is an essential marketing element if your business has a physical location or is concentrated in a specific geographic area. Even if your target audience doesn’t use geo-specific keywords in their search queries, you need to optimize your website to make sure search engines can recognize where your business is located.
This includes adding your physical address information to your contact page (or individual addresses to individual pages if you have multiple locations) as well as your site metadata. You should also make sure that your business listings are up to date on Google My Business, Yelp, and similar sites in order to leverage location information from those publishers as well.
8. Run A / B test email campaigns
A / B email testing can uncover hidden opportunities in your email marketing strategy. If you’re not already using email marketing software, look for one that supports A / B testing so you don’t have to segment your audience and manually track the performance of each email.
When creating the test campaign, make sure you have a premise in mind that will dictate the differentiations between the two emails. For example, if you want to understand how your contact list reacts to personalization in emails, create an email that includes the recipient’s first name in the subject line and an exact copy of the same email without the email. customization.
Then write down the test results. Does one email have a higher open rate than the other? Does an email generate more clicks? This information can inform your future email campaigns to ensure that your overall email strategy is optimized for your audience.
Spend time, save money on marketing strategies
All of the strategies on this list have two things in common: They are all affordable, and they all require more time and effort than the strategies that require more money. Fortunately, digital marketing tools can help streamline these strategies and simplify your efforts. Check out our list of the best digital marketing tools for small businesses to find the one that’s right for you.
This article was originally published on May 20, 2013. It was updated by Kaiti Norton.