4 strategies to create a winning marketing plan on a budget

Marketing doesn’t have to be expensive. In fact, overspending on marketing without a tangible return on investment can work against you as a small business. In this article, we’ll uncover 4 affordable marketing strategies for small businesses, showing you how to make use of inexpensive marketing opportunities to help scale your business. 

1. Search Engine Optimisation

If you’re looking to bring more people to your website without constantly paying for ads, search engine optimisation (SEO) is a great place to start. It’s one of the most cost-effective ways to attract long-term, consistent traffic. The idea is simple: by using the right keywords and optimising your site, you can show up in Google searches and that means more eyes on your business.

How to make the most of this strategy:

• Do keyword research. Use tools like  AnswerThePublic,  Google Keyword Planner, Semrush or  Ubersuggest to find relevant keywords for your business, analyse search volume, and monitor your SEO rankings against your competition.
• Optimise your website. Place your target keywords strategically in page titles, meta descriptions, headers, and throughout your content to boost visibility.
• Set up your Google business profile. Claiming and optimising your Google Business Profile is crucial for local businesses. It helps you appear in local search results and Google Maps for free, driving targeted traffic to your site.

2. YouTube marketing

YouTube is the second largest search engine in the world, making it an excellent platform for affordable marketing. Unlike Google, where ranking can be challenging, YouTube offers a more accessible way to get noticed.

How to make the most of this strategy

• Create content that solves problems. Focus on answering your audience’s questions and addressing their needs. For example, if you sell fitness equipment, create videos on workouts or exercises people can do with your products. This helps build trust and positions you as a helpful resource.
• Use SEO for YouTube. Apply keyword research to find topics that your target audience is searching for but haven’t been covered widely yet. This will help your videos stand out and attract more views.
• Promote your business subtly. Offer valuable content first, and then subtly remind viewers of your products or services. For example, after giving a helpful tip, briefly mention how your product could make the process easier.

3. Email marketing

Email marketing is one of the most effective and affordable marketing strategies for small businesses. It allows you to nurture customer relationships and drive repeat sales without ongoing ad costs. And when your email strategy is focused on targeted, strategic communication rather than mass mailing, it supports your business goals without compromising on sustainability.

How to get the most out of your strategy

• Automate emails. Set up your email software like MailChimp or AWeber to automatically capture emails when customers make a purchase through payment systems like Stripe or PayPal. This way, you’re always building your list without extra effort.
• Re-engage past customers. Send personalised offers and updates to keep past customer coming back. A simple message with a special discount can go a long way.
• Cut down on ad costs. If you’re running paid ads, email marketing can help. By capturing emails, you can market to your customers again without spending more money on ads.

Using lead magnets to capture more visitors. A lead magnet is something valuable that you offer for free in exchange for customer information, like an email or phone number. This giveaway could be a free trial, a discount, free shipping on a first order, or something helpful like an eBook, webinar, or white paper. The key is to ensure your lead magnet provides genuine value to your ideal customers.

4. Maximise profits through customer retention 

Paid ads can be pricey, but focusing on customer retention helps you get more from each new customer. Retention is all about keeping customers coming back. Strong retention strategies make your ads feel like an investment, not just a cost. To make your ad spend more effective, try improving your customer acquisition cost (the cost to get a new customer) by refining your targeting or updating your ads. 

How to get the most out of your strategy

• Offer excellent customer service. A small business with great customer service, like a local bakery remembering customers’ names and preferences, will keep customers coming back.
• Use warm traffic ads. Target people who’ve already interacted with your website or social media, like a viewer who liked your Instagram post about a new product. They’re more likely to buy.
• Break-even ads. Some businesses invest in ads even if they don’t make an immediate profit. For example, an online store might break even on the first sale, but with strong retention, they’ll make a profit over time.

Marketing your business on a budget is entirely possible with the right strategies. By focusing on SEO, YouTube marketing, email marketing, and customer retention, you can drive traffic and sales without excessive spending. 

If you’re ready to take the next step and put these strategies into action, reach out to your Network local contact point for personalised guidance and support.

Read the full article HERE.

Source: een.ec.europa.eu