For larger businesses, a marketing budget may extend to as high as 12%. For small businesses, it can be as low as 2% which means every dollar counts when it comes to advertising. While traditional marketing is quite expensive, companies today have access to affordable marketing tools that enable owners and operators to reach consumers more efficiently. Here are five marketing strategies for small business budgets that will increase revenue and growth.

1. Market Locally

  If your customer base is in the local market, you need to focus a portion of your budget on local SEO and community-based marketing. Here are a few things you can do to utilize online SEO marketing techniques.  

• Utilize Google My Business: This is a free tool that enables you to update your business information using SEO marketing and imagery. You can also integrate your website and engage with consumers digitally.
• Use Social Media Platforms: Posting images or using location tags will help attract new customers who will see your product or service in real time. Using hashtags will also help generate feedback that spreads organically.

 

2. Create Progressive Pitches Via Email Marketing

  Did you know that for every dollar you spend on email marketing, your ROI is $44.00? Both B2B and B2C prefer email marketing for information. Here are a few things that you should know about this type of free marketing technique.  

• Sending welcome emails generate about 320% more revenue potential.
• Tuesday is the most profitable day to send out emails to consumers.
• Use an emoji in your subject line as it is a compelling consumer strategy.
• Customers who buy through emails spend 138% more than non-email recipients.
• Observe email marketing metrics of CTR, ROI, Open Rate, and Conversion Rate to change up your marketing message when ineffective.

 

3. Collaborate With Non-Competitive Businesses

  Working with businesses that are not in direct competition enables you to pool resources. You will attract customers by creating buzz or cross-marketing to increase traffic.  

• Use Social Media: One of the most strategic ways to market is to start a campaign that shares consumer information. You can create a contest by contributing to a gift certificate that engages social media followers that like, share, and comment on each site. One small contribution can bring in thousands of new subscribers.
• Participate In Local Fairs: Thousands of potential consumers attend local fairs. Setting up a booth is an affordable way to introduce your product or service while building relationships. Investing in flyers, allowing people to try free samples, or entering a contest will boost participation rates.

 

4. Create Marketing Opportunities With Products Or Services

  The best way to market your products or service is by using them to build your reputation based on customer satisfaction. Word-of-mouth is one of the most critical assets for a business which generates 15% more in revenue when used as an advertising technique.  

• Create Marketing Campaigns: Nothing speaks for your company more than Using your customer feedback will significantly influence shoppers.
• Generate Customer Feedback And Reviews Online: Social media engagement is a crucial element as more than 80% of local shoppers research a company before visiting it. Do not shy away from free product samples to garner feedback as customers will be more likely to support a product after a first-hand

 

5. Invest In A Social Media Manager and PR Specialist

If you lack the in-house support for social media or public relations, you will benefit from a specialist who offers these services. Not only is outsourcing an affordable option, but you gain access to a host of marketing tools without the employee investment. Marketing does not have to be hectic or expensive when trying to build your brand. Contact us for access to a host of professional marketing services that will help you boost traffic and sales.