The line between cost and results is never an easy one to walk. You want your marketing efforts to be fruitful, but you also need them to come at a reasonable cost. If the cost-to-results balance is off, then you are wasting money instead of making it, which is not a fruitful marketing strategy for any business!
Cost-effective marketing strategies are what any type of business looks for. These are the strategies that cost little-or-no money and still provide substantial results. If you’re a startup company that is looking to grow your business and develop a name for your brand, these 5 cost-effective strategies should be your starting points.
Almost every business today offers some level of blog content to site visitors. Good (and successful) companies update their blogs often because they know that regularly updated blogs experience higher traffic. With more traffic comes more opportunities for brand exposure and even sales!
Blogging is simple and easy to perform. And, if you write your blog content yourself it costs nothing but time! The rewards for successful business blogs are tremendous:
- Higher organic search ranks for more visibility
- Build your authority as a brand and website
- Potentially connect with influencers that can expand your reach
- Discuss complex concepts that help clients understand your products or services
- And much more!
2.) Social Media
It seems like every business has at least two or three social media accounts and it isn’t just because that’s what the kids are into these days (although, it does help). Social media offers tremendous value to businesses. It is swiftly becoming the number one way that customers and clients stay in touch with their favorite brands.
Social media has this amazing ability to give companies a personality, which used to take years of marketing campaigns to achieve. When social media content is done right, the results can be exponential. One viral post can completely change the game for a business!
On the topic of content, videos are an extremely effective format that is as popular as it is engaging. It’s far easier for someone to watch a short video than it is to read a blog post or even interact with a social media post. Plus, viewers remember almost the entire message, which can’t be said for other content types.
The cost to produce video content isn’t nearly what it used to be. Thanks to smartphone devices, everyone has a video camera burning a hole in their pocket. The quality is more than enough to effectively get your message across and engage audiences.
4. Incentives And Referrals
Everyone loves free stuff. If you struggle to bring new customers in, giving something away or otherwise incentivizing new business is both cost-friendly and effective. Incentives don’t have to be money or free products, it can simply be a special offer that is exclusive to new customers. However you decide to encourage new customers, it can be as cost-effective as you want.
You can also incentivize referrals from past clients. This empowers your past business to become your best brand ambassadors and promoters. Not to mention, prospective customers trust referrals more than your marketing messages, so it may be just the nudge someone needs to finally convert.
5. Pay-Per-Click (PPC) Marketing
You can argue that paid search advertising doesn’t belong in a conversation of cost-effective marketing strategies. After all, “pay” is the first word in the PPC acronym! This is a big determent for a lot of marketers, but it really shouldn’t be.
When PPC marketing is done right and the strategies are planned carefully, it can be an extremely effective tool for generating revenue and drawing in new customers. In some cases, PPC marketers are able to generate over $2 on every $1 spent. There’s nothing ineffective about those costs!
That said, PPC marketing can have a difficult learning curve and you may have to spend some money before you see these high returns.
This is just a small sampling of the many cost-effective strategies available to marketers. While this list is a great first step, there are many other tactics that you can deploy to generate brand awareness, increase website traffic and drive revenue. Don’t be afraid to move beyond these 5 cost-effective marketing strategies and explore other avenues!