10 cost-effective marketing tips for small businesses

Marketing is often on the bottom of the list for  small businesses, and I understand that. The priority is usually to get business as quickly as possible, yet things like building a website tend to be nice-to-haves in some cases. I run a marketing consultancy but I haven’t been immune to the reluctance to spend on “marketing stuff”. In this article, I will highlight 10 essential yet cost-effective marketing tips for even the smallest budgets. These tips will help you build a foundation for your business. Many will cost you nothing, but they will make a significant impact in growing your business long term.

cost-effective marketing tips for small business by yo marketing

Cost-effective marketing tips for small businesses

1. Email Marketing

If you have a contact list of potential customers, email marketing could be a good way of letting them know about your business. You could start with a small list of people that know you and would not mind getting your email. For this, you don’t need an email marketing service. You could just use your email provider. Remember to keep your contacts’ emails in Bcc so that you don’t share their email addresses with your entire list. As your list grows, consider email providers like MailChimp, Mad Mimi and MailerLite. These all have free plans. The paid plans cost as little as £7 a month if you grow to a list of over 1,000 subscribers. If you get to that point, well done!

2. Business cards

Giving out your business card is a simple way of telling people what you do and how they can reach you. Thanks to companies like Vistaprint, you can get 500 business cards for £15. Other options are Fiverr, an online marketplace for your digital needs. Someone can design your card for as little as £3, and then you could print it elsewhere. I don’t recommend going too ‘cheap and cheerful’ with your business cards but don’t spend too much on it either. I changed my mind about my tag line a couple of times and that meant new business cards. Luckily, they didn’t cost much so I was able to make new cards to reflect my business’ value. Remember that as you evolve, your business will too. Make provisions for the changes that you might make.

3. Networking events

Networking events could cost anything from nothing to hundreds of pounds. The trick is to find those events that are relevant to your industry. When attending a networking event, don’t be shy to give away your business card. But also don’t worry too much about how much business you will get at the event. It could hinder you from just having a good time. You could be pitching all night! I’ve started to see networking events as an opportunity to just be known, help people put face to name. If new clients come as a result, fantastic!

4. CRM systems

When you think about CRM (Customer Relationship Management) systems, you might imagine a complex database that does things that as a small business, you are not ready for. However, CRM systems are essential to build your business. One of the first things I did was get Highrise, a simple CRM tool that allows me enter details of new contacts, potential and existing clients. Within Highrise, I can maintain details of all potential and existing client interactions, from first contact to conversion. Needless to say, Highrise is free for businesses with less than 250 contacts. It increases to roughly £15 a month for up to 5,000 contacts. Another CRM system for small business is HubSpot CRM. It’s free, but I haven’t tried. If you have, let me know what you think!

5. Website

Gone are the high costs of building a website. Tools like WordPress.org and Wix make it easy for novices to build a website. I built my first website a year ago, and it was my steepest learning curve yet! I plan to improve it with expert intervention soon, but as a small business owner, spending on a luxury website might not be an option. But you need a website. You also need to make it SEO-friendly so that potential clients find you for relevant services. These days, a decent website costs from £500 if you contracted a website designer. Try your hands on building one yourself but get feedback. One advantage I’ve found from building my own website is that I have access to the back admin and can always change elements of the site myself. This is invaluable for a business that is growing and evolving daily.

6. Blogging

Blogging is even easier than building a website. Without a full blown website, you could use platforms like Blogger and WordPress.com to start writing blogs about your industry, and your solution. You could invite guest bloggers, people who have complementary expertise or a unique view about a subject that your target audience might be interested in. Blogging is free, and a good way to be online and findable. Not blogging about your business is like being on mute in a customer meeting. Why are you there??

7. Social media

We all know it doesn’t cost anything to be on social media. But it might cost a little to be heard above the noise. Still, you could do a lot with £3 on Facebook. The key is to truly understand your target audience and where they hang out. If your clients are not on Twitter, you don’t need to be there. If your small business works with other businesses, a LinkedIn business page could be powerful. Spend time testing different social media channels and see what brings the most engagement. Also consider how much time you have to spend on these channels. For instance, LinkedIn and Facebook tend to require less time while Instagram and Twitter are about constant engagement i.e. 5-8 posts a day for real impact.

8. Google Analytics

Google Analytics is another free tool that every business website should have. It allows you see the sources of traffic to your website, and provides analytics on your website visitors. Google Analytics will show you how many visitors come from social media channels, and from organic searches via keywords. This was valuable for me as I contemplated which social media channel to invest in. For instance, LinkedIn brings over 40% of my social media traffic with Twitter as a close second. However, organic searches is by far the greatest source of traffic to my website. Therefore, I might decide to invest in Google Ads for specific keywords.

9. PR

PR used to be left to Public Relations experts. But with social media and fantastic new tools like PingGo, PR has been democratised. For £30 a month, you can write your own press release anytime you want! So if you win a new client, expand your business or launch a new product, use PR to tell your story. Identify relevant news outlets and start telling the world the good news.

10. Brochures

Not all businesses will benefit from brochures because so much of marketing has gone online. Yet, I believe this shift has made brochures a novelty, and it could be intriguing to receive a brochure from a small business. The less we expect something, the more positive impact it could have on your customers. You get their attention. A well-designed 8-page brochure that simply lays out your value proposition, key products and services, pricing and contact details is a good idea. You could leave it in cafes, doctor surgeries, office receptions etc. It will cost from £150 to get one designed. Assuming you provide all the copy and images, all you have to do is print it. Online printers like instantprint could print 100 copies of a 8-pp from as little as £45 depending on size and paper quality.

 

Next time you think about marketing for your business, know that it doesn’t need to cost the earth with these cost-effective marketing tips.

yo marketing thank you

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