How To Maximize Your Marketing Budget

If you believe that the only way to run your marketing plan is an expensive advertisement, you will be glad to learn that there are cheaper...

If you believe that the only way to run your marketing plan is an expensive advertisement, you will be glad to learn that there are cheaper methods.

A study of your market is a good starting point. To better target, your marketing plan for small business, draw a portrait of your ideal customer.

For example: 

  • What is the average age of your clients?
  • What is their average income?
  • Where do they live?
  • What lifestyles are they interested in?
  • Set goals for your campaigns
The next step is to establish a budget and set goals for your marketing efforts. For example, you might decide that you want to foam the sale of a given product; Increase traffic to your website; Or get a given number of new email addresses for your online newsletter.

Be methodical to save

Here are some tips that will help you optimize your marketing efforts - and avoid wasting your money.

Plan your campaigns logically and methodically according to your overall marketing plan; Random marketing has little impact and can even make you lose customers.

Test your campaigns before launching them.

Focus on the benefits of your product or service and on what sets your business apart from the competition.

Use Affordable Marketing Tools

There are economical ways to communicate your message. Choose the ones that best fit the nature of your business.

Online marketing

If you want to expand your customer base in an affordable way, marketing through your website and social media pages will probably give you the most value for money. For information on how to do this, download BDC's free e-book titled Increasing Your Sales Through Online Marketing: A Guide for Entrepreneurs.

Speeches

You can offer your services as an expert speaker when a conference on a topic related to your product or service is organized.

News Releases

Imagine a promotion or an original event and advertise it by sending a powerful statement to the local media.

Direct Mail

Use direct mail to target specific geographic markets by providing information about your business with a special offer.

Local advertising

Advertising in local newspapers can be cheap, and it is usually possible to put free ads on bulletin boards.

Brochures

They should be simple, but professional. An advertisement that seems to have been made by amateurs is not a sound investment.

Trade Shows

They are useful if your product or service targets a very specific market, like other companies working in a specialized niche.

Networking

The networking is a great way to meet potential customers and communicate your expertise, especially if you offer professional services. Joining business associations, for example, can help you get other current customer contracts and find new customers.

The

Ask satisfied customers to recommend others. Consider offering a gift or a discount to those who bring you, new clients.

If you need help developing and running a marketing plan, using a consultant specializing in small business marketing can save you time and money.

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