3 Budget-Conscious Digital Marketing Strategies for Your Business
A quarter of a century ago, it was hard for small businesses to operate on a national or global scale. Most small businesses also happened to be local businesses, selling directly to their immediate communities and trying to fend off big brands from penetrating their territories. But with the rise of the internet came the democratization of traditional business.
The internet has done for small businesses what the transcontinental railroad did for the western United States in the 19th century. It’s provided access and given businesses avenues through which they can reach larger audiences that exist outside of their own backyards. The growth of social media has further advanced these capabilities, allowing small businesses to scale up their branding and marketing without significantly increasing time or effort.
The only problem is that the power and utility of digital marketing also comes with a cost. As more businesses continue to use a variety of methods, the competition drives up costs. Small businesses with tiny budgets can easily become left out, which puts them at a disadvantage and limits opportunities for growth and exposure.
If your business finds itself in a place where digital marketing has become too expensive to pursue at any meaningful level, you’re probably left wondering where you go from here. But don’t get too discouraged. Regardless of your budget, you still have options.
3 Cost-Effective Digital Marketing Methods
Cost-effective digital marketing is all about creativity, patience, and discipline. You have to be willing to go where some other brands won’t, while also waiting for the right opportunities to execute.
Here are a few methods to consider:
1. Display Advertising
When it comes to online advertising, most people want to talk about pay-per-click (PPC) ads. And while PPC ads offer a nice return, they can also be really expensive. But have you considered display advertising?
“A long lost advertising platform, the display ad may seem an older form of marketing, however, it is inexpensive and, when done correctly, can generate the type of calls and leads you want,” The Drug Rehab Agency explains. “The key here is to ensure you are advertising on sites that make sense.”
By purchasing display ads on sites that have visitors closely mirroring your target audience, you can sort of hack into good SEO rankings. Instead of having to rank well for a bunch of keywords, you automatically “rank” by way of paying for exposure on key websites that already have prime real estate in the search engines.
2. Use Facebook Flex Targeting
While it’s gradually become more expensive to advertise on Facebook, it’s still much more cost-effective than AdWords. Facebook also provides numerous options that allow you to really drill down and reach very specific groups of customers.
If you want your money to go further, try Facebook flex targeting. With flex targeting, you can reach profiles that have interests in A and B, rather than A or B. In other words, a music store can reach customers who play guitar and record music, rather than customers who either play guitar or record music (possibly with another instrument). This increases the likelihood of reaching the right customers, as opposed to those on the fringe.
3. Try Guest Blogging (Both Ways)
Content is the currency of digital marketing. The problem is that it can be expensive to create. If you want to stretch your budget, guest blogging is the way to go.
By writing guest blog posts on other websites, you get an opportunity to increase exposure and drive links back to your site. By accepting guest blog posts on your own website, you get free content that satisfies your audience and bolsters your SEO. It’s the best of both worlds.
Find Your Sweet Spot
It would certainly be nice to have a large digital marketing budget that allowed you to spend exuberant amounts on all the right strategies, but few small businesses have this luxury. If you want to reach your audience and drive consistent results, you must learn to pursue the right channels. In 2018 and beyond, this means identifying cost-effective mediums and strategies that stretch your dollar without compromising results. Hopefully, this article has given you some ideas to build upon.