As a small business owner, one of your main goals is for your business to flourish. And to achieve that, you need smart advertising and marketing strategies. You want to make the most of your marketing budget.
You might think that with a tight budget, it’s nearly impossible for that to happen. But no, there is actually a wide variety of cost-effective advertising strategies. You can choose from in-person networking to email and even digital marketing.
Here are the 7 Best Cost-effective Advertising Strategies For Small Businesses:
Search Engine Marketing
This type of advertising strategy is the practice of marketing a business through paid advertisements that appear on search engine results pages (or SERPs). It offers opportunities to advertisers to put their ads in front of determined potential customers who are ready to make a purchase at the exact moment.
In addition, online advertising programs such as Google Ads and Bing Ads can bring in more traffic to your website and help your business present notably when users search for relevant/ related phrases.
And the best part is that you don’t need to spend a lot of money on this campaign. A budget of $20-$30 per day can bring traffic and potential leads to your business. You need to pay more attention to long-tail keywords that are relevant to the industry.
Social Network Advertising
Advertising on social media platforms such as Facebook and LinkedIn allows you to market to your target audience specifically and direct you to the people you haven’t reached out to. This is one of the quickest and most- effective means of connecting with your target market.
With little budget, you can target specific customers by their demographic (age, gender, interests). And even when users don’t make instant purchases, they may end up liking and sharing your business which helps in building a listing of potential customers.
A branded website with correct and detailed information and attractive images can serve as your customers’ information source and a lead generation tool.
If you can’t yet afford to hire a web designer, you can use beginner-friendly templates and tools provided by website builders like WordPress, Wix, and Squarespace to create a basic website. Just note that if you’re focusing on SEO, WordPress may be the better pick for you.
You can place your business information on Google My Business and Yahoo listing for free. By putting your business name, website, images and active hours, you can take advantage of people searching for businesses on Google in your area.
Most of these web directories are free, but some may offer paid options to increase presence.
An email newsletter is a cost-effective way to engage with your current customers and get into a market of potential customers regularly.
You can use your newsletter to provide your customers with valuable and relevant information as well as regular updates. This makes your customers remember your business when they’re ready to make a purchase. You can send out promotions about your products/ services like a discount coupon. Make sure to not promote frequently.
Loyal customers may tell their friends about your business. However, with referral promotions,, you give the brand promoter an incentive such as discounts, points, or coupons to make more than one referral. This, then, gives you more chances of garnering new potential customers.
This type of promotion is great for small businesses with a tight budget.
Flyers and Brochures
Giving out flyers and brochures is a simple, and inexpensive way to spread the word about your business. Offering incentives or discounts to customers who bring in your flyer not only generate profit but also informally tracks the people who are coming in because of your flyers.
Now, even with all these advertising options, you have to remember that the best way to advertise your small business still depends on the type of your business and the product/ service that you’re promoting. Trying out different methods and testing their effectiveness will help you determine the best advertising strategies for your business.