Top 6 Money-Saving Marketing Tips
- Written by Diana Smith
Your marketing campaign determines everything in the business world. When launching the product, it determines the initial sales (those before reviews start kicking in), the image of your company, as well as the overall brand recognition/awareness of your brand. Therefore, it’s definitely worth investing in it. Now, even though it will guarantee a positive return regardless of the initial investment, sometimes, this initial payment is more than you can afford. So, what you need is a way to make it more frugal, more cost-effective. Here are the top six money-saving marketing tips that you need to take into consideration.
Outsource marketing
The first thing you need to consider is outsourcing your marketing. Now, this is not saving your money in the way you would expect it to. This is because it’s not necessarily about paying less for your marketing but about getting more for your money’s worth. By outsourcing, you get a seasoned team on board. Assembling such a team for your in-house department would be impossible without a major investment. Other than this, you get access to a lot cheaper innovation. Finally, outsourcing is a scalable solution, which makes it viable regardless of the size of your enterprise.
Print in bulk
Another thing you need to keep in mind is the fact that offline marketing is incredibly important, even in this day and age. You see, in some business cultures (like the Japanese), business cards are a basic etiquette, which is why you would have to find a reliable business card printing service. Even with promotional materials and similar items, the truth is that printing in bulk can save you a small fortune. Sure, you have to invest more at the moment but you significantly lower the cost-per-unit. Seeing as how we’re not talking about perishable items, this is an equation that’s bound to pay off eventually.
Start a blog
One more way for you to generate an insane amount of marketing value is to invest in content marketing. The reason why this is so effective is due to the fact that it generates value for your customers without costing you too much. What this means is that you get to entertain them, keep them informed or educate them on the topic at hand. Other than this, you also get to demonstrate your skill and knowledge in the industry.
Consider PPC
You should also keep in mind that paid marketing gives you a great ROI. This is a particularly efficient way of spending money because you get to monitor the efficiency of the method that you’re using. For instance, when using PPC, you know that every time you pay, you’re doing so because you’ve actually gained traffic. You don’t have to pay for all those ads that no one clicks on. In other words, you know where every single dollar goes.
Automate your marketing
Automating your marketing will take less time from your staff, thus indirectly saving you a small fortune in resources. With the use of tech concepts like chatbots and AI-powered tools, you can achieve great efficiency. In fact, the majority of these tools are so sophisticated that it’s quite hard to tell for an average user if they’re talking to a human or a machine, to begin with. This also leads to an increase in customer satisfaction, which is also a huge boon.
Upsell and cross-sell
It costs five times less to convert an already existing customer than it does to earn a new one, which is why you need to shift your focus to customer retention. The follow up is a crucial part of the success and you achieve it through subsequent offers, follow-up emails and more. Nonetheless, there’s an even better, cheaper way to handle these affairs.
The concept of upselling is the scenario where you make an offer to upgrade the item that the person in question is already buying. For instance, if they’re buying a laptop, you can offer them to get an additional SSD at a reduced price. The cross-sell is an additional offer that’s closely related to their previous purchase. In the above-listed laptop-buying scenario, you could offer them a laptop bag at a lower price.
As you can see, with these six money-saving marketing tricks, you can either end up spending less money on your marketing while achieving the same effect or achieve more while paying the same. Both of these scenarios can be useful at one time or another. Fortunately, these are just the tip of the iceberg and there are many other similar options that you could consider.
