However, as most business owners know very well, gaining access to many advertising platforms can be extremely expensive. Thankfully, if you want to do more with your marketing dollar, there are strategies you can use to save.
Leverage Social Media
Social media is one of the most common tools people use to communicate in the modern era. According to statistics, the amount of people on social media is estimated to grow to 4.4 billion by the year 2025. This is a huge market to tap into and much larger than you could ever hope to access through television, radio, or any other medium.
The great thing about social media accounts for businesses is they are completely free to set up and use. If you gain a strong following on Twitter, Instagram, Facebook, or another network, your followers could do the act of marketing for you by re-posting your content and spreading positive word of mouth.
Localize Your SEO
Another important form of marketing that does not really have to cost you anything is search engine optimization. It is a website’s SEO that allows it to compete against other websites in the search results of major search engines like Google and Bing.
However, if your business has a local audience, you can take this a step further and localize your SEO to maximize your profits. Many searches have local intent in that consumers perform them to find businesses to patronize in their general geographic area.
If you can tie your business into that area with local-specific keywords and get listed on the right online maps and business websites, you can drive people directly to your store through their phones and automobile navigation systems.
Utilize SMS
Another advertising platform that can give you a big bang for your marketing buck is SMS, Short Message Service. SMS is a more technical term for text messages sent to phones and other mobile devices. Text messages are cheap to send, and most phone users tend to read them at least once unlike the case with advertising messages sent by email.
Consider utilizing a text blast service to really get your marketing messages out there to the public. Such a service can allow you to send text messages to groups of any size almost instantaneously.
Such a service can also help you better tailor your text messages to the individual needs and preferences of consumers and allow you to obtain data in response to the efforts you can use to fine-tune your marketing.
Create a Referral Program
Employing sales staff in-house can be very expensive. However, what if you could use your customers as your sales staff? You can do that by creating a referral program for your company.
In exchange for specific perks, bonuses, freebies, discounts, and more, your customers will try to get others to purchase your products and services. The cost of these perks really is very little compared to the extra revenue streams you will gain through such a system.
Such a system can be so effective because your brand’s biggest fans can be quite evangelical regarding spreading their love of your products. Don’t take such important customers for granted and make your referral benefits worth their time.
other valuable tips from our business blog (new win):
Only Pay for Results
The big problem with traditional advertising is there is no guarantee that you’ll ever get your money back. Just because you pay to run a commercial on late-night television does not ensure that anyone in your target demographics will actually see the ad and respond to it by buying your product.
However, what if you only paid when such a transaction actually took place? This is possible through internet advertising.
Thanks to special software, you can track which users click through an ad to one of your landing pages. You can then determine if they leave the landing page or actually go on to purchase a product in your store.
If you only pay for situations that produce actual click-throughs and conversions, you’re marketing dollar will actually pay for itself.
Overall, you don’t have to spend a minute on marketing. Thanks to the internet and other innovations, there are now new advertising platforms you can utilize for much less that can produce a big impact.
You’ll have more data regarding your marketing efforts and be able to better track your progress. This can be a game-changer.
Image Credit: by envato.com
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