Big Results with a Small Marketing Budget

Efficiency  and Consistency is the key to getting big results from a small budget. Prioritize your dollars by choosing marketing channels that deliver the highest ROI. Clearly identify your target market and the best channels to reach them. Integrate social media and email for an even bigger boost.

How do you continue to grow your business when you feel forced to cut back on marketing due to economic adversity? Well for starters, you never want to completely cut back on all of your communications with customers and prospects because they are the very people that can get you through tough times.

Taking important steps to spend wisely can make the difference for a feast or famine season. Here's a quick guide to evaluating some common marketing expenditures:

Print Advertising: First determine whether your print ads are actually working for you. Ask your customers how they heard or read about you either online or in person, then track the number of times a specific ad or referring site is bringing you the most business. If you aren't sure the effect cutting your advertising campaign could have on your business, consider a simple change like reducing your ad sizes or renegotiating positions with publications. Inquire with a custom graphic designer who help you get the biggest bang your bucks.

Email Marketing: You don't have to cut here at all and it's not just because you might be a customer of ours. Many email marketing firms, including VerticalResponse, let you send email for a fixed monthly fee and even pay as you go. This enables you to increase your email sends to your list and continue to grow your business. Reducing the frequency of your email communications actually can lead to an increase in your list members unsubscribing. This occurs when they lose the emotional connection to your communications: It doesn't arrive when they expect it, or they assume you've lost your commitment. The loyalty loss also hurts your best source for referrals and viral marketing.

Tradeshows: Instead of cutting tradeshows out of your budget altogether, you might be able to reduce your presence. Why not share a booth with another complementary business? Do you really need three people to go or can you do it with two? Maybe you can have a smaller table or booth? Make sure you don't skimp on printing business cards, but use the back of your card for a promotion instead of printing on a larger datasheet. There are simple ways to reduce show participation while still getting your message heard.

Start a Refer-a-Friend Program: Ask your customers to refer their friends and share a discount or free gift every time their friends purchase. This only costs you a percentage of revenue or gift and it's a fantastic way to spread word of mouth.