Cost-Effective Marketing Strategies for Your Business

A limited marketing budget doesn't have to limit your results. Modern digital marketing strategies allow any business to connect with the ideal audience and drive more revenue. The key is finding the methods that work best for your business.

In this article, we'll talk about the advantages of digital marketing over more traditional formats. We'll look at why digital channels get more for your money. Then, we'll dive into cost-effective marketing opportunities for your next campaign.

What Makes Digital Marketing More Cost-Effective Than Traditional Marketing?

The numbers are in — digital advertising costs less than traditional advertising. Look at the difference in expenses to reach a thousand people:

• Display ads: $2.27
• Online video: $10.64
• Primetime cable: $19
• Broadcast TV: $20–$36
• Newspapers: $46.82

And here's another critical difference — when you buy a TV or newspaper ad, you reach a general audience. You don't get to choose who sees your ad. 

Digital marketing lets you personalize your messaging. Personalization is a big deal to today's buyers, with 71% of consumers expecting personalized interaction. More than three-quarters — 76% — find impersonal customer experiences frustrating.

Digital marketing is personal. Ad programs like Facebook and Google Ads let you specify your target audience and market to more interested buyers. Email marketing allows you to send personalized communication directly to your prospects, and search engine optimization (SEO) helps you show up when people need your products or services.

Channels like these yield measurable results with a high return on investment (ROI). Here are some particularly cost-effective solutions for your next marketing campaign.

Cost-Effective Marketing Strategies to Consider 

From guerilla marketing techniques like pop-up shops to well-hyped giveaways, small businesses do whatever works to reach their audiences. The secret is getting the right strategies on your radar.

Here are four cost-effective marketing strategies that you can use to reach more people without spending a fortune.

Blogging

Blogging is one of the most effective ways to drive website traffic. It helps you appear higher in search results and demonstrates your authority on specific topics without the high cost of advertising.

Every business has plenty to blog about. An independent tire shop could create dozens of blog posts about tire care — tires for different seasons, how to check your tire pressure, choosing a brand, and more. 

The more informative and valuable blog posts you publish, the more you build your brand. Google gives its highest search page rankings to sites that offer helpful content, and a high ranking is like gold for your brand.

Your click-through rate (CTR) increases by 2.8% for each spot you move up in search results. You could get over a quarter of all clicks if you reach the top.

Each of those new visitors is a potential customer. Your job is to earn their trust and get them to the next step with compelling calls to action. Once you get them to download a guide, sign up for your newsletter, or claim a free coupon, you have them in your audience.

Plus, blogging is a gateway to other forms of content marketing. If it succeeds, you could move on to video marketing, infographics, or case studies.

Email Marketing

Email marketing is the 21st century's answer to direct mailings and analog media ads. It's as intimate as a sales letter and integrates into the recipient's daily life as effectively as a radio ad. But you don't have to pay for printing costs, postage, ad space, or media distribution.

You only need the recipient's email address and permission to send them marketing messages. From there, you have an inside track to their daily routine. Did you know 88% of people check their email daily, and almost 40% check it three to five times a day?

Email is also an extremely versatile marketing channel. You can send business updates, sales announcements, and more. Here are just a few ideas to get you started:

• Upcoming promotion announcements
• Event invitations
• Seasonal product or service recommendations
• Holiday gift idea roundups
• Company news (new products or services, new hires, etc.)

Another great way to stay in touch is with an email newsletter. Send out updates and reminders once a month or quarter to stay top of mind with your followers.

Social Media Marketing

Social media is a smart way to stay in touch with current customers while reaching new audiences for reasonable costs. 

Posting to a social account — "organic posting," in marketing jargon — is free and a great marketing tactic for building community. You can update followers on business news and share helpful content related to your industry. Encourage readers to share their thoughts and get a conversation going.

Paid ad campaigns are best for reaching non-followers. The cost is affordable, and you can set a daily budget. Plus, custom ad targeting lets you send the right message to the right potential customer.

Pay-Per-Click Advertising 

Pay-per-click (PPC) advertising works a lot like social media advertising. You choose your audience based on the qualities that matter, such as:

• Age
• Location
• Family status
• Browsing history
• Past buying behavior

You can even target consumers who have interacted with your content before. Retargeting is a great way to maximize the value of your marketing efforts since you've already established the relationship.

PPC digital advertising is ideal for beginners and small businesses. Your ad starts showing up almost immediately after you start your campaign. 

Plus, PPC platforms let you track your results. You can see what works best and make minor adjustments as you go — something impossible with traditional marketing. Even a business card needs a total redesign if there's a typo, but you can tweak a digital ad with just a few clicks.

Creating a Cost-Effective Marketing Campaign

Digital marketing is a cost-effective way of building your brand and attracting new customers. The right marketing plan looks different for every business, and let's be honest — budget-conscious small businesses don't always have time to research and develop great plans from scratch.

At Optimize, digital marketing is what we do. We can help you create and manage your marketing campaigns, getting the best possible results while staying within budget.

Schedule your free consultation today to learn how Optimize can help you leverage digital marketing to grow your business