05 Jul Cost Effective Marketing
Marketing tools and opportunities are more accessible and more affordable than ever for small businesses. But any marketing activity takes time and for the cash-strapped small business owner, time is money.
There are so many ways to do-it-yourself when it comes to marketing your business today – from social media and pay-per-click advertising to e-newsletters and events. However, cost-effective marketing is about testing and fine-tuning; and getting a measurable return on the time and money you spend on marketing.
Take a disciplined approach
It’s tempting, when you don’t have a lot of budget for marketing, to simply try things on the basis that anything is better than nothing. But lack of budget is not an excuse for scattergun marketing. Anything you do can and should be planned and measured.
So-called “free” marketing methods – such as social media – must be approached with discipline. That means you need to set objectives, monitor time spent and measure results. Thanks to analytics software, this is easy to do.
Know your limits
The dilemma for many business owners, though, is when the DIY approach is actually less cost-effective than getting outside help. A professional website design, proper branding, strategic use of search engine optimisation – all these are jobs that business owners frequently try themselves before realising they need more expertise. Specialist freelancers often provide the most cost-effective solution here.
Every business is different. With a wealth of ways to reach your audience, it’s up to you, the business owner, to decide which marketing methods will work best and to make sure they are delivering results.