Running your business
The current economy dictates cutting back and saving money. But when it comes to running your business effectively, it can be difficult to find ways to cut back. While many companies decide it’s best to cut back on marketing efforts in order to save money, what you may not realize is that you can cut back on your marketing budget without cutting back on your marketing. Here are five ways to save some money and maintain or even increase your current marketing influence and outreach.
1. The new best thing isn’t always best.
When it comes to your company’s marketing ads or materials, it’s not always cost-effective to start from scratch every time. It’s understandable that you want your marketing efforts to be fresh, clean, and new, but if your current ads are still effective and getting the job done, why pay for something new? Or, if you feel you need to revamp your company image with some new marketing, use it in a cyclical fashion—reusing old marketing materials or reworking them into something modern rather than starting from scratch. Use images, content, or layouts from your old materials to inspire your new ones.
2. Get your hands dirty.
If you have an idea for a marketing campaign or materials, get your hands dirty. Bringing your marketing efforts in-house can help you reduce your marketing budget without reducing your consumer outreach. While you may not be equipped or skillful enough for some large, intensive projects, there is certainly some things you can do on your own—press releases, professional Facebook page creation, and targeted email marketing. Get creative and have a little faith in yourself and your abilities.
3. Tidy up and save some cash.
It doesn’t matter in which industry you work, the size of your company, or your current marketing methods; you probably need to do a little tidying up. Go through your email and address lists of your clients, customers, users, or subscribers and get rid of those that are invalid. A good portion of your marketing efforts—and costs—aren’t even getting to their destinations. If you employ an email marketing strategy, for instance, you may be paying per sent email. If you use direct mailing marketing, you have to pay for each paper or postcard sent, even when they come right back to you. Spending some time tidying up your lists will ultimately save you money without reducing your marketing outreach.
4. Earn the attention.
Everyone loves free publicity. No matter how many press releases you write, emails you send, and business cards you hand out, your company isn’t going to get any real, important attention unless it’s earned. Some companies earn free publicity because they offer a unique product or service. Some get that free publicity because of a hilarious and quirky marketing campaign. It all comes down to sparking real interest. If you spark interest in potential consumers and other companies, they’ll write articles and blogs about your company for free. Consumers will share your website or marketing material with friends. You’ll get press coverage. So, make your product worthy of that free attention. You may have to think outside the box, but free attention is almost always worth it.
5. Cut out the middle man.
If you pay an agency to find you advertising opportunities, cut out the middle man. Do your own ground work and build those professional relationships. Not only will this help you lower your budget, but you can build, maintain, and retain your professional contacts. This ensures that you won’t have to worry about the middle man taking your business with him later.
Marketing your business doesn’t have to cost an exorbitant amount of money. If you know where to cut back, you can keep your business moving forward without suffering financially. Remember, cutting back on your marketing budget doesn’t mean your online presence or web traffic should suffer. Make smarter decisions today for a great tomorrow.