5 Best Cost-Effective Marketing Tactics For Small And Medium Sized Business
Marketing is the inevitable part of any business, whether it is small start-ups or well-established business. The primary goal of any business is to make money and marketing is an essential channel to reach the products or services to the right set of audiences that drives sales to your business. Incorporating the right marketing strategies is crucial at the same time helps the business to achieve the vision.
“Marketing is no longer about the stuff that you make, but about the stories you tell” – Seth Godin
There are plenty of opportunities there but leveraging effective strategies will be challenging for small and medium-sized businesses (SMB’s).
Here in this article, let’s discuss the Low-budget and also cost-effective marketing tactics to lift the SMB’s business to the next level.
- Develop a Solid Marketing Strategy
- Invest In Professional Website
- Makes Your Own Company Blog
- Video Marketing
- Social Media Engagement
Develop a Solid Marketing Strategy
Effective strategies will help to define your business goals. Right from the business planning, your marketing strategy should be one of the core topics to get into research and added to the plan.
Let’s discuss some major components of the marketing strategy that help the marketing efforts to more focused and improve your sales and profit:
- First, you have to identify your business goals
- Define the marketing goals
- Research about the market and industry
- Screen your potential customers
- Monitor your competitors
- Use 7 P’s of marketing
- Make your strategies to help marketing goals
- Test your ideas – trails and experimenting method
A good marketing strategy should help your target market and most likely to buy the products or services which you offered.
Invest In Professional Website
In the evolution of technology, the website acts as a visiting card of your business profile.
If you see the latest data by the smart company states that “Only 50 percent of small businesses have a website.
And shockingly, half of the small businesses across the globe missing out on an opportunity to reach new customers.
Another data states that “Nearly 90% of people use the internet to find local businesses”. This shows that “how much importance of website to grow your business”
Invest your money in a professional website is worth the investment.
Here shared some common tips to consider for website:
- Keep it simple and the design should be load-faster
- Pick only two to three based colors for your designs
- Hassle-free navigation enhances the visitor’s experience
- Keep it mobile-friendly and responsive site designs
Makes Your Own Company Blog
Nowadays, people want to know more about the brand and their products or services rather than conventional advertisements. For that, blogging is one of the best ways to reach your target audience and also has higher conversion rates.
In the content marketing strategy, blogging positioned third spot and with the higher quality content, you can gain more organic traffic to the site, discuss the products or services, and is also helpful to showcase to the world as an industry experts
In the recent study by demand metric states that, “companies with blogs produce an average of 67% more leads monthly than companies don’t have a blog”
Major benefits of blogging for SMBs are:
- Boost to search engine optimization
- It keeps your customer engaging
- It will help to attract new customers
- It help to build the network within your niche
- It helps to drive higher conversion
Undoubtedly, video marketing is one of the best and newest strategies to promoting the business.
Video allows the users to increase the time spent on your site that reflects in lower bounce rate. In the recent survey states that “54% of consumers want to see more video content from a brand or business they support”
You can leverage the great video at a reasonable cost and here we listed the effective video marketing strategies tips:
- Your video should be helpful and educational to customers like “How -to” videos
- Keep it short and simple
- Recommended to go live
- Maintain a realistic budget
Social Media Engagement
Social media gives multiple opportunities to directly engage and provide value to your customers.
In a recent study by Statista states that “There are 3.8 billion active social media users globally”
It is the all-time best way to target your ideal buyer and has a chance of higher conversion rates.
Develop the right social media marketing plan based on your business goals and choose the right platform that more suitable for the business.
Here listed the major social channels to consider:
- Facebook- it allows you to longer text content and Facebook groups are an excellent way to build a captive audience.
- Instagram – The mobile platform can share stories, videos, and pictures. “500 Million stories posted every day on Instagram”
- Twitter – it allows short text content restricted to 280 characters.
- Linkedin – It is the networking website for professionals ( B2B and B2C). It helps to meet out more prospects and leads.
Marketing tactics differ from every business and a variety of strategies available on market to reach your potential customers. Consider the above-mentioned strategies and implement the tactics based on the budget.