Global spending on marketing is expected to reach $467.62 billion in 2018, according to Statista. Small businesses contribute quite a bit to this number, but they can’t afford to use the same super-effective tactics that multimillion corporations do. As a small business owner, you’ll need to use the most effective tools available and those can be costly. That’s why it’s essential to implement a variety of money-saving marketing tips to get more value despite your limited budget.
Top 5 Money-Saving Marketing Tips for a Small Business
1. Repurpose your content
If you already have some top-quality content pieces, you can boost your marketing by using them again but in slightly different forms. As HubSpot explains, repurposing is changing the format or target audience of the content. For example, you can use several detailed blog posts to create a whitepaper or even develop a webinar or online class. You can use data from some of your content to create infographics, etc.
The point is that you’ll be able to save money on developing new content while increasing the value of what you have. However, in order for your marketing strategy to be effective, adding new content is essential. Therefore, this approach will only help you use your budget more efficiently.
2. Save money on hosting
The hosting affects website loading speed and security, which affect SEO, which is a part of a marketing strategy. Thus, using cheap web hosting deals and discount coupons is a very effective way to save money.
This way you do not only cut the costs in your marketing plan. Finding such discounts can help you get a top-quality web hosting provider that your small business might not be able to afford otherwise. Note that the majority of leading hosts offer cheap signup rates, but high renewal costs. This means you might need to move your website when the cheap subscription runs out.
3. Focus on building a big social media following
Social media marketing is exceptionally effective, especially for small local businesses. It gives you a chance to connect directly to the community and build up your reputation as a brand delivering top-quality customer service.
Launching a social media promotion campaign is also one of the best money-saving marketing tips because it’s cheap. In fact, if you don’t consider paid ads, developing your social media account will cost you nothing. However, it’s essential to keep it active. This means not only posting shareable content regularly. You also need to reply to comments and messages fast as well as take parts in group discussions relevant to your niche.
4. Start a referrals campaign
A referral campaign by Dropbox boosted the signups for the service by 60%. This particular marketing tool can cost you little, but it brings in new customers, which increases your revenues significantly.
The best approach to use is offering some kind of benefit for the referrals. Be sure to pick something that your customers will enjoy in order to motivate them to participate in the small business marketing campaign. Note that referral marketing does not only bring new leads but also improves your brand’s reputation and enhances customer loyalty.
5. Learn about marketing
Today you can find many online courses on small business marketing as well as resources with helpful books and articles. Never forget that the best way to save money on promoting your company is to handle the majority of promoting yourself. And to succeed in this you have to learn.