A lot of businesses these days spend thousands of dollars on their marketing efforts. They shell out capital to pay for advertisements in both digital and print platforms. They hire tons of employees to fill their marketing team. They continue to invest in seemingly effective promotional solutions. Many businesses make this mistake, but realize later on that the result is not a good return on their investment — and this is after having spent a whole lot of funds for it.
Although it’s good for businesses to invest in their marketing, it should be done wisely. Further, it must be understood that marketing your business is not about how much money you pay or how many platforms you have. Instead, it’s about doing your research and finding the right platform that can provide big returns. Luckily, businesses now have countless opportunities to market their brand for cheap. That can be done through digital platforms and effective strategies. Here’s how to save money on marketing.
Outsource your marketing department
Businesses opt to have their marketing department in-house so that they can better keep an eye on the work being done. But having your own marketing team can get costly. You have to provide them with a place to do their work. You have to pay for materials. You have to conduct onboarding and training efforts. Not to mention the need for their compensation. These costs are why businesses think that marketing is expensive in the first place.
It may be better for you to outsource your marketing department. There are a lot of affordable franchise marketing companies that can help your business. Not only do you save a ton of money compared to creating your own in-house team, but you can also guarantee that the people behind your marketing efforts are skilled and knowledgeable to take on the job. Hence, your strategies and tactics are targeted, and you will yield more effective results.
Take advantage of social media sites
Almost everyone these days has a social media account. Sites like Facebook, Instagram, Twitter, and YouTube, have big volumes of traffic on a daily basis. Plus, they are free to use. Businesses must build their social media presence since it will allow them to foster relationships with their customers and access a wider reach. In fact, statistics show that sales reps who are active on social media sites get 45% more sales opportunities and are more likely to hit their sales quotas by 51%.
We are living in the information age. Anything you want to know about is accessible to you through a single search online. Search engines like Google and Yahoo can give you all the answers to questions you may have — that includes inquiries or reviews about products and services. Statistics show that 88% of consumers go online and read about a brand and its products and services online before making a purchase. Hence, you need to make sure that you have a strong online presence.
Search Engine Optimization (SEO) is a free method to boost your marketing efforts. But it’s highly effective, considering that it will help your website or page appear at the top of search results, allowing consumers to find you when they go online and conduct their research. Determining high-volume keywords and incorporating them in your content, generating backlinks, and optimizing your website are efforts that won’t cost you much. But they will surely yield more traffic to your website and improve your bottom line.
Marketing does not have to be expensive. It only needs to be done right. Instead of spending too much on your marketing efforts, make wise and informed choices on how to bring word about your company out.