Just because you have a small marketing budget doesn’t mean that you should have to put up with cheap looking marketing campaigns. Marketing on a small budget is tricky, but with this blog you can learn how to solve the problem.
There are three reasons for small marketing budgets:
- Times are hard and unaccountable marketing’s as easy a place as any to start making cuts. Understandable but misguided.
- The powers that be don’t see marketing as all that important. The ‘we’ll produce it first then worry about who’s going to buy it later’ mentality. Misguided and not really understandable.
- There really isn’t enough money available to spend any more. Enough said.
Of the three, we’re going to focus on the last one here. We’ll assume that the reason why you’re dealing yourself a small hand in such an important area of business is a valid one, ie. that it’s of necessity.
That said, it goes without saying that it’s paramount you make every penny you do have count. Phrases about bangs and bucks spring to mind.
And the first thing you don’t want to do is …
Blow it all on a big advertising splash. OK, you may give everybody a quick soaking and generate some awareness but that will dissipate as quickly as clothes get dry. And then you’ve nothing left for the rest of the year. Advertising in any media tends to be very expensive and hard to track. You need the opposite.
Think of it like dining. You wouldn’t have one meal at a Michelin starred restaurant and then live on beans on toast all week.
What you do want to do is …
Be regular. Marketing communications raise awareness on a drip drip basis. If you must spend little make sure you do it often. Email, for example, takes seven emails to be effective with most customers.
Be around. Try different media channels to maximise the chances of reaching your target audience.
Be consistent. The same people may see your brand online, in the papers, at trade shows, on Facebook. It’s essential to keep your messaging consistent across the board.
Be specific. The key factor to get right is targeting. Mass marketing is for mass budgets. Go for a niche if you can, preferably one that’s easy to identify and reach.
Be sociable. Not talking about social media here, important as that is. Consider a joint venture with appropriate partners to spread the cost and enhance effectiveness.
Be newsworthy. Publicity is free, so generate some by providing editors with something appetising.
Be good. Customers tend to know a good thing when they see one, and often tell their friends and associates. Word of mouth is the most effective marketing media there is.
For more in-depth advice about rising to the challenge of marketing on a small budget, call 0845 230 4810.