6 Low Budget Yet Highly Profitable Marketing Strategies For Small Businesses
“Stopping advertising to save money is like stopping your watch to save time,” says Henry Ford.
I couldn’t agree more.
Small businesses run on a tight budget, which makes it difficult for them to spend money on marketing. But doing so can cause more loss than profit to your business.
Why compromise on marketing your product or services when you can actually do it at a low price?
Besides having a decently designed website to market your services or products, the following list of low budget marketing strategies can reap benefits for your small business.
Google My Business
Google My Business is a tool by Google that is beneficial for local businesses. When you create a Google My Business Account, you’re making your services accessible to people in your locality.
Google has over 5 billion monthly searches for restaurants, 3 billion for hotels, 1 billion for clothing shops, 600 million for hair and beauty salons, and 5 million for coffee shops.
Keeping the stats in mind, it’s highly likely that having a Google My Business Account would benefit your business in numerous ways.
How does it work?
When you search for a service on Google, you get three or four Google My Business listings along with the map and other details as a result. You can list your business or website in one of those search results by using the right tactics.
Google My Business ranking depends on various factors like Google reviews, Google Maps, Google Analytics, and more. Based on these things, GMB gives you credibility and shows you on the top of the search results.
It’s the best way to generate quality leads for small businesses that have a local customer base.
Search Engine Optimization
Search Engine Optimization (SEO) helps to get organic traffic to your website. It is a process of optimizing the website with relevant keywords, content, and links, such that the website ranks on the first page of Google Search Results.
It is a long-term process that requires continuous efforts and keyword research. However, SEO helps you generate high quality leads over time as you get the customers directly from the search results.
Local SEO is the best for small businesses as it increases the chances of appearing in local search results.
Paid Advertisement is the process of showing ads to online audiences based on their search history. It is also known as Pay Per Click (PPC), for you’re charged a certain amount every time someone clicks on your ad.
You can run ad campaigns specific to your target audience on various ad platforms like Google, Facebook, Instagram, Linkedin, and Twitter.
Unlike SEO, you get instant results for the ads that you run. However, keyword research plays an important role in determining the success of the campaign.
You need to choose the right platform to run ads depending on the type of services that you have to offer. For example, it’s highly irrelevant to run an ad for apparels on Linkedin. Facebook or Instagram would be the right fit for that.
Content Marketing is defined as the creation, distribution, and promotion of content online based on the buyer’s journey. The content can be of different types like Videos, Blogs, Webinars, Podcasts, and others.
Content Marketing is a long-term process, yet it’s the most efficient one as it builds trust with your target customers or audience.
Having the right buyer’s persona or customer avatar is the key to generate leads through content marketing. Small businesses can benefit the most through it provided they solve the customer’s problem effectively by providing relevant solutions in the form of content.
Generating quality content on a consistent basis not only attracts visitors to your website but also helps in the branding of your small business.
Social Media Marketing
Social Media Marketing is a marketing strategy that involves sharing content on social media platforms like Facebook, Linkedin, Instagram, Twitter, or Pinterest. The content can be of any form, be it creatives, blog links, gifs, or videos.
There are about 3.5 billion smartphone users in the world, out of which an estimated number of 2.95 billion people are on social media.
As a small business owner, not being active on social media would be a great loss for your business. While it’s difficult to be present on all the social media platforms, it’s enough if you’re active on two or three major social media channels that are relevant to your audience.
Along with sharing content on social media on a regular basis, it also helps if you are active in niche groups or follow pages that your target audience likes.
Email Marketing is a more personalized form of marketing that helps to generate high-quality leads.
It’s highly unlikely that anyone who visits your website the first time is going to buy your product or services. Here’s when email marketing comes into the picture.
By offering a lead magnet in the form of an E-book, whitepaper, newsletter, or free consultation, you can capture the email addresses of people who visit your website.
Even if they don’t buy anything from you instantly, you can nurture the generated leads by sending them personalized emails from time to time.
Set up Email Marketing campaigns once you have a list of email subscribers. Send them email updates about the latest offers or promotions.
Segment your email list into different categories and design email templates according to it. It will help you build a relationship with your customers.
To conclude, your brand voice and creativity is what sets you apart from the multitudes of small businesses. With the right approach towards your customer, you can benefit from using these marketing strategies without investing so much money on it