insights | 06.11.2024

8 ways to market your business when you’re on a budget

Article topics
  1. Concentrate on SEO
  2. Use social media
  3. Launch a blog
  4. Create a Google Business Profile
  5. Write press releases
  6. Take advantage of word-of-mouth marketing
  7. Build an email marketing list
  8. Network online and offline

It’s official – marketing budgets are getting smaller.

According to Gartner, marketing budgets have decreased 15% from 2023 to 2024.

Whether your existing budget has taken a knock or you’re a new brand which doesn’t have much money, the good news is that you can still promote your business to the right people.

Here are eight tips for marketing your business when the purse strings are tight.

1. Concentrate on SEO

If you can only focus on one marketing channel to promote your business, search engine optimisation (SEO) is a good bet.

This is because:

  • Good SEO leads to long-term results. While it might take time for your page to rank, once it is ranking, it will continue to attract organic traffic, backlinks, and social shares, meaning a better return on investment (ROI)
  • You can use SEO to target the right people. This means you’re focusing your marketing budget on the customers most likely to convert on your website, reducing wasted spend
  • SEO is also more affordable than other marketing channels like pay-per-click (PPC) advertising. There are free and low-cost tools for keyword research and optimising your website pages

2. Use social media

Another cost-effective way to build your brand is through social media. With social media you can create a loyal community, drive engagement, and encourage followers to share your content with others, for example, through competitions.

With social media, it’s essential to understand your goals before you begin. Do you want people to sign up for your newsletter, buy from your site, or provide user-generated content you can use in future marketing campaigns? This will give your posts a clear steer and ensure you create content that delivers the right results.

Most social media platforms also let you promote or ‘boost’ your posts for a small fee. This can be an effective way to show your social media posts to people who might not have otherwise heard of your brand. However, the costs can quickly add up if you’re not careful.

Targeting is the easiest way to ensure that only those most interested in your products and services view your ad – reducing wasted spend.

3. Launch a blog

Blogging is an affordable way to make people aware of your business – most website platforms come with their own free blogging tools, meaning you can get started right away.

Not only can you use your articles to rank for new keywords, but you can use your blog to show that you’re a thought leader in your chosen industry.

According to Orbit Media, one-quarter of bloggers say their blog drives strong results for their business.

Another advantage of blogging is that you can repurpose your content to your other marketing channels, saving time and resources.

For example, let’s say you upload an article offering five tips for applying false eyelashes. You can split each tip into its social media post, turn the article into a short video to upload to YouTube, or create an infographic to generate backlinks.

4. Create a Google Business Profile

One of the best free things you can do to market your business, especially if you’re locally based, is to create a Google Business Profile.

Claiming your Google Business Profile allows you to provide details about your business, like the services you offer, the amenities you provide, and your opening hours.

This doesn’t just provide prospective customers with more information about your business but gives Google more context about what you do.

For example, if you’re open 24 hours a day, Google is more likely to show your website to people looking for businesses with a 24/7 presence.

You can also manage your reviews and increase the chances of appearing in Google’s ‘Snack Pack’ – the map that appears at the very top of the search results.

5. Write press releases

You don’t need to be a copywriter to create a good press release. All you need is a good angle, and publications will want to tell your story.

There are lots of benefits to getting your news published in both printed and digital publications. Not only do you get free publicity and promotion, but you may also get a link back to your website, which can help your SEO efforts.

Here are some of our top tips for getting the most out of your PR efforts:

  • Do your research to see which publications you want to send your press release to. For example, do you want to target the local press or trade publications?
  • Befriend journalists on social media – they will be able to advise if they are looking for specific pitches
  • Top-load your press release – put the most important information at the top and the less important information at the bottom
  • Keep it short – the optimal press release length is between 300 and 600 words. Provide your contact details and the journalist can get in touch if they want more information
  • Don’t be too salesy – you don’t want your press release to sound like an ad
  • Provide high-quality photos alongside your press release – we recommend attaching both portrait and landscape images to maximise the chances of publication

6. Take advantage of word-of-mouth marketing

Word-of-mouth marketing is incredibly effective. For 28% of consumers, word of mouth is their preferred method of learning about a new product or service. Over half of consumers have discovered a new business through word of mouth.

One of the best ways to use word-of-mouth advertising in your marketing is through reviews. 93% of shoppers read at least one review before making a purchase.

Encourage customers to leave reviews for the products and services they buy, either on your website or through a third-party platform like Google Business Profile, Facebook, or Trip Advisor. An additional bonus is that you can use these reviews on social media or even expand them into case studies.

Another way you can use word-of-mouth marketing is by implementing a referral scheme for your most loyal customers. By encouraging them to advocate on your behalf, they can introduce friends, family members and colleagues to your brand.

7. Build an email marketing list

Email marketing has one of the best ROIs around – for each £1 you spend, you can get £36 back.

This is because you are advertising to existing customers who have bought from you in the past, as well as people who have signed up for your email marketing list. This means a higher chance of a successful conversion.

The key is building up your email marketing list. The best way to do this is by providing something of value, like a discount code, gift, or eBook.

Segmenting your email marketing list works well too – this is when you split your list up into smaller groups so you can send more targeted messages. For example, emails for customers who have bought from you in the past, and those for people who are yet to buy from you.

8. Network online and offline

And finally, free and paid networking events are fantastic ways to improve your visibility and make other businesses aware of you. Networking can lead to referrals, collaborations and even the option to share resources with similar companies.

Over 70% of SMEs say they have won business through face-to-face networking.

There are lots of ways you can network. You can attend ad-hoc and scheduled networking events, as well as trade shows and conferences. Virtual networking became popular during the pandemic and is ideal for building relationships with businesses that aren’t in your local area.

To make the most out of networking events, it’s vital to put the effort in. Come prepared with a list of ice-breakers, don’t be afraid to start conversations, and always follow up – whether by email or sending a LinkedIn connection request.

Getting the word out doesn’t have to cost the earth

Promoting your business effectively doesn’t have to be expensive. The trick is to identify who you want to target, choose the channels they’re most likely to use, and closely monitor your campaigns to determine which provides the best ROI.

If you have a small amount of money to spend, using an agency can mean you get the most bang for your buck.

This might sound counterintuitive, but working with a digital marketing agency (like Xigen) has a lot of benefits.

You get access to a team of experts with years of experience and access to enterprise tools, meaning you can ensure your marketing channels target the right people. You don’t have to pay for pensions, holidays, and other benefits. Plus, you can scale up or down as your finances demand.

Want to find out more about how Xigen is the cost-effective choice for marketing your business, no matter your industry? Contact us today.

Need help with your next big eCommerce project? Find out how we can support.
Tags:
go back Back