piggy_bank1Smart marketing is an absolute must for any business.

While traditional companies allocate between 9% and 12% on their revenue on marketing, small businesses spend as low as 2%.

Such a statistic may be shocking to some; however, with the average small business owner juggling so many moving pieces of their companies, it’s no surprise that such entrepreneurs can’t afford to splurge on marketing.

The goal of most modern businesses is to operate as lean as possible while still getting their names out in front of new leads.

Thankfully, the explosion of Internet marketing within the past decade has allowed businesses on a budget to not just survive but thrive.

The question remains: what are the most cost effective marketing strategies that won’t break the bank?

Thankfully, most Internet marketing is free or almost free, with the primary investment in such advertising being your time.

Although most of us certainly are pressed for the free time to market our businesses, there are steps you can take to work smarter rather than harder.

Whether you run a brick-and-mortar business or are working to build your digital empire, consider the following means of marketing your business on a strict budget.

 

#1 Content Marketing

There’s perhaps nothing more powerful than the written word when it comes to driving an audience to click, buy or simply take action.

Therefore, consider harnessing the power content marketing if you haven’t already gotten your feet wet with blogging or writing articles for the benefit of your business.

Anyone can set up a free WordPress site and begin writing; however, the ROI of content marketing comes through…

  • Writing articles and blog posts that target keyword relevant to your niche, improving your business’ organic search engine presence
  • Using your website as a billboard for your company online, giving yourself a platform to tell your story and make a positive impression on those seeing your brand for the first time

If you’re passionate about your industry, you’ve already got a story to tell.

Ignoring content marketing is arguably one of the biggest online marketing mistakes you could possibly make; therefore, make it a priority to start writing sooner rather than later.

 

#2 Social Media Marketing

Although many critics see social media as a waste of time for marketers, smart social media is a must-do for companies looking to build worthwhile relationships with potential customers.

Not only does social media allow you to foster relationships with potential leads, but also provides you free link-building opportunity for your company’s site and content.

At the very least, all small business owners should set up their profiles and use them as platforms to promote their own content.

One way I like to use social media is to see out people on Twitter.  I’ve been doing this for some time now and it has worked out great on getting on peoples radars.

Another thing I do is seek out related Facebook groups and help answer peoples questions.  Doing this over time can help you earn a position of authority.  The goal here is not to ask for anything in return but just to provide as much value a possible.

 

#3 Blogs, Forums and Comments

Online marketing represents a community, regardless of your niche or industry. Therefore, you should work as hard as you can to contribute to the community surrounding your business. How so?

Thankfully, discussion is free; therefore, consider taking advantages of blogs, forms and comment sections of sites in your space to bring in your unique insight and let other businesses know you exist.

Contributing to your industry’s discussion is a great way to potentially build links to your site and pique the interest of curious readers.

To avoid being perceived as a spammer, make sure that you provide thoughtful and personalized comments rather than simply repeating what everyone else has already said.

Marketing your business online doesn’t have to cost an arm and a leg: in fact, oftentimes the only investment if your time. By carving out some time day by day to dedicate to Internet marketing, you can build more leads and potential revenue without breaking the bank.

 

Final Thoughts…

In end you can market your business without breaking the bank.  It may take a little more work but it can happen.  I’ve been doing online business like this for 8 years now and it still works to this day.

So how about you, what are you doing to promote and market your business without breaking the bank?  Share your thoughts and comments below.

Cheers!

 

Photo Credit: https://www.pexels.com/photo/money-pink-coins-pig-9660/