How to Make the Most Out of Your Marketing Budget

With marketing for any business, the quintessential goal is to figure out which communications or activities will result in the largest number of leads for the lowest possible cost. If you’re on a tight budget, use the following tips to learn how to make the most out of every single marketing dollar.

Do You Understand Your Audience?

Before you launch your first Facebook campaign or dive head first into AdWords, you should make sure you know your target audience. As the name suggests, a target audience is a particular group at which your campaign is aimed.

For instance, if you’re looking to attract more 30-somethings into your boutique because of their high-profit margins, your marketing campaigns should speak directly to this audience. Defining your target audience is undoubtedly the first and one of the most important steps you can make.

Get Social

According to Pew Internet Research, 8 out of 10 online American adults use Facebook.  With so many of your potential customers liking, sharing, retweeting, and engaging with brands online, social media marketing is relatively easy and exceptionally low cost.

Even if you already have a strong Twitter or Facebook presence, you should also investigate other platforms where your target audience congregates. In either case, it’s imperative you share valuable content your audience is most likely to want to read.

Get Involved with Your Local Community

Wherever you live, there are many marketing opportunities you can take advantage of throughout your local community. As an added bonus, many local marketing initiatives do not require significant outlays of cash.

For example, one way you can increase your brand reach is by setting up booths at local festivals and offering coupons, promotional material, and other swag with your business logo. You can even raffle off free services or products at church functions or schools to make sure your local community engages with your brand.

Always Say “Thank You”

Another way to get the most bang for every marketing dollar is shockingly simple and free — always say “thank you.” Take whatever opportunity you can to show your customers you appreciate their business and engagement. Some of the most frequent opportunities to thank customers include:

  • When the customer completes a lead capture form
  • If the customer makes a purchase
  • If a customer leaves a social media review
  • When customers make referrals

Whether it’s a thank you page for completing a form or a thank you email following a customer purchase, showing gratitude to the customers who chose your brand is virtually free and can result in valuable repeat business and customer loyalty.

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