Best Small Business Marketing IDEAS
For large brands with big marketing and advertising budgets, one or even several hundred dollars is just a drop in the monthly marketing budget. But for entrepreneurs and small business owners, every dollar counts – and investments need to pay off in real and immediate marketing ROI.
But could a marketing strategy be executed with as little as $100? We think so. That’s why we came up with these six scenarios that show how you can distribute a mere $100 (or perhaps even less) while still having a robust marketing plan that can help you grow your business.
1. Research your market
The more time you can invest in identifying not only your target markets but the characteristics that would describe your ideal buyer types, the more you will be able to:
- Focus marketing efforts with laser-like precision
- Hone your marketing messages to attract and engage likely buyers.
And all-stars teams don’t just study up on their own game plan, they check out what competitors are doing so that they can look for opportunities to beat them. Going head to head with a competitor in areas where they are stronger or more well-established is usually going to result in a loss. On the other hand, if you spend time analyzing the competitive field to look for their areas of weakness or gaps in the marketplace, you can discover opportunities where your business will have the best chance to grow.
2. Turn email into your heavy hitter
Cost: From $20 to 50 per month (up to 5, 000 contacts) via email marketing platforms such as Constant Contact or Campaigner
Email marketing comes in high on our list of recommendations for small businesses and startups, because it works. Regardless of industry or organizational size, marketers across the board point to email marketing as the tactic that produces their highest return on marketing dollars invested. ExactTarget.com’s 50 Email Marketing Tips and Stats for 2014 reported that marketers received an average return of investment of $44.25 for every $1 spent on email marketing.
Not only is it effective, it’s also desired. In study after study, consumers regularly say that email is their preferred channel for brand communications. The marketing gurus at MarketingProfs.com shared data from a Message Systems study that found for nearly one-third of all consumers, email is the communication channel they prefer when it comes to marketing.