Cost Effective Marketing

 

Marketing Strategies

In a competitive market, the challenge for many start-ups and small businesses is to get customers and stand out amongst their competitors. After all, customers are needed to have a sale and make a profit. This is where marketing comes into play. It is defined as a business activity of promoting and selling products or services.

A lot of small business owners do tend to believe that marketing involves a lot of funding. Namely, because they are most familiar with marketing and advertising that cost a lot. Take, for example, paying for marketing services by an advertising agency. However, that is just simply one of the ways to market.

If you are looking to market your business without breaking the bank, here are five cost-effective marketing strategies you can choose from:

Social Media Promotes Your Brand

  1. Social Media and Content Marketing 

Social media platforms such as Facebook, Twitter, Instagram are so commonplace nowadays it would be shocking if you did not have an account on either one of them.

Emphasis on the “social” aspect is a great way to reach out to many people, not just limited to your vicinity but even from across the world. It can also serve as a place to engage with your audience and get quality feedback about your products or services. Start by creating profiles on Facebook, Instagram, Twitter, and LinkedIn. The key here is to time the frequency of your posts.

Social Media Marketing is Content Marketing. It involves creating and sharing online material like videos, blogs, and social media posts. Try not to be upfront in promoting a brand but focusing on stimulating interest to its products or services. Making connections and posting regularly will help your business gain loyal subscribers who can become your customers.

  1. Highly Targeted Paid Marketing

This may not be the exact type of marketing you would expect to find in a cost-effective list but knowing when you can invest your money to launch a precisely targeted inbound marketing campaign and get your brand in front of the right people to generate a high turnout.

Here are some pointers to keep in mind when doing Paid Marketing.

  • Improving your quality score To Improve ad relevance and lower your campaign costs.
  • Launch remarketing campaigns by segmenting visitors to your website or by creating a custom/tailored audience.
  • Try opting for smaller niche networks where you can gain a terrific ROI rather than prominent but expensive advertising networks.

Build your list

  1. Email Marketing   

Email marketing is a marketing strategy that utilizes sending emails to prospects and customers to develop relationships. Email is the #1 communication channel with most consumers checking their emails every day. The advantage of this over social media is that you own the list without the risk of it being suspended by an administrator. What is more, emails tend to convert better.

Here are the steps to get started with Email Marketing:

  1. Select email marketing service provider
  2. Start building your email list with lead gen/ free gifts
  3. After the first two steps, it is just a matter of refining your lists and your messages, so you reach out to your audience and connect with them.

 

  1. Referrals Programs & Partnership Marketing

Though it may not work for every business, having a referral program or affiliate program might be worth trying. Create an affiliate program that turns your customers into a pseudo-marketing team. And the best part is that you do not spend marketing money unless they first make a sale on your behalf.

Partnership marketing involves the collaboration between two or more businesses within an industry aiming to create a mutually beneficial marketing campaign that helps both parties meet their business objectives. This is especially helpful for small businesses struggling on their own, and this method can help a business grow cost-effective wise. Take time to plan, investigate and converse with potential partners and see if you both can come up with a mutual agreement.

Manage Customer Relationships

  1. Customer Retention Marketing

The traditional idea of marketing is often thought of as the focus of gaining new customers. In truth, some of the best marketing happens with current customers. Marketing back at your own customers is quite easy and low budget with other great benefits. This is what is known as

Customer retention is a set of activities a business utilizes to increase the number of repeat customers and each existing customer’s profitability. Allow you to provide and gain more value from an existing customer base.

This is in line with other marketing strategies already mentioned above.

  • Listen to your customers’ needs.
  • Offer a rewards program.
  • Consider SMS and email marketing.
  • Engage and make time with your clients. …
  • Keep offering added value services to your customers…

If you are looking for support in growing your business send us an email at Roy@racmacs.com, or book a  Free 30 minutes Business Consultation call

Five Reasons Your Business Needs Digital Marketing Strategies to Survive

Are you looking for long-term success in your business?

On average, people who use the internet spend 80% of their time on social media.

27% of internet users say they find new products through paid social ads, followed by SEO, TV ads and word of mouth marketing.

Without using these digital platforms to your advantage, it’s going to be a challenge to achieve long term success.

In this article, I’ll share with you the 5 main reasons why your business needs digital marketing strategies in order to survive and achieve financial success.

  1. Online Presence and Brand Awareness

Marketing

In a rapidly evolving world of technology, nearly everyone uses a device to consume content online. To be specific, we’re looking at about 3.8 billion online consumers.

More companies are transitioning from traditional marketing to digital marketing…

And this gives them more leverage.

They now have access to untapped profitability by having a larger outreach to potential customers and spreading brand awareness across multiple social channels.

It’s important to consistently post quality content so you establish an online presence people are familiar with. What this is also going to create is a flow of traffic that will convert consumers into leads. Then eventually, into happy customers.

No online presence means you’re limiting your audience outreach to a physical location. 

  1. Customer Insights

Customer relationship management

 

What other better way to learn about your business than directly asking your customers?

 

Thanks to the internet, it’s very easy to connect with your audience. And it’s not too difficult to find the information you’re looking for.

Here’s the sort of valuable information you could learn about your customers from their insights:

    • Needs and desires
    • Pain points
    • Fears and frustrations
    • Interests and preferences
    • Social media hangouts

Besides your customers, you’ll also learn about your competitors. Some of your customers might be buying from them, and have a preference with what they like more about what they are doing that you’re not.

For example, email marketing gives you the chance to speak to your subscribers directly. And this is where you can ask for things like feedback. This also goes a long way with developing a personal connection as well as loyalty and trust.

Ultimately, it leads to better service and gives the clarity you need. You can use the game-changing knowledge to close the gaps in your business.

  1. Building Trust and Relationships

Imagine you’re constantly giving away golden nuggets in your content for free. Your readers are going to love your brand because of how much value they’re getting from you.

“If the free content is this good, I wonder how good the premium content is…”

This is why it’s important to put your audience first and help them with their needs because this is what’s going to form the bond between you.

After being familiar with your brand and becoming long-term consumers who trust you, at one point they’ll feel ready to take the next step.

  1. Industry Authority

Consistency alongside quality content is the reason why consumers are going to come back to you. If you can keep giving them exactly what they want, you’re going to turn casual readers into hardcore fans.

Before you know it, they’ll come to realise you’re an expert for solving a particular problem that makes their lives easier.

As a result, you’re going to be recognized as an authority figure in your niche…

Whenever there’s a specific need or desire they know you specialize in, they’ll be coming to you for the answers.

  1. Easy to Access

The internet makes it very easy to contact and interact with someone located on the other side of the world. In comparison to traditional marketing, customers can access your business from the comfort of their own homes.

The key takeaway with digital marketing is that you have a greater chance of generating leads and sales. There’s huge potential in scaling your business and expanding your customer base!

Conclusion

Increase the flexibility and the value of your business operations by taking advantage of digital marketing. Another smart strategy to consider is to outsource the work to professionals who are better than yourself.

You should be allowing yourself to focus on the core areas of your business. Let the other specialists handle the smaller priority tasks that need to be completed at a high standard.

Not sure what to invest in, who to hire or where you should start?

Book a free discovery call with us here and we’ll help put you on the right path to achieving your business goals and objectives.