How to manage your marketing budget

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Marketing budget: Don’t let your online spend skyrocket

When you start a new business, it takes time to know which marketing tactics will work for you. You can’t just copy other people because your customers are likely to be different. It can be difficult to set a marketing budget that drives sales.

 

More and more marketing is online e.g. social media and on your website. Experiment with different ways of generating new sales for your business. Use videos, e-books and articles engage your audience. Pick one or two social media platforms then manage them well, and ensure that you are measuring performance against your goals. Look at the sources of your web traffic and where your sales originate from.  Spend more in those areas.

Marketing budget: Offline works if you can crack it

If you prefer offline marketing such as printed flyers, brochures and leaflets, that’s great! These channels are still powerful in helping people to learn about your business.

 

Do research to identify your ideal customers. This does not stop at a macro level. Create a short list of around 10 businesses that you want to convert to customers. Allocate money in your marketing budget to send a creative direct communication to these potential customers. It could be a well-worded letter or something that symbolises the value you offer. Whatever it is, make it memorable so that you leave a positive impression. Then follow up with a call or email.

 

Cafes and community centres in your area might allow you to put your flyers on their notice boards. Also, approach doctor’s surgeries to see if they will display your leaflets in their waiting rooms.

 

To get the most from print marketing materials, including a code e.g. FLY10 that a potential customer can quote to get a 10% discount or additional bonuses. This allows you to measure how many people use the code, and see if your investment is worthwhile. Without tracking your returns on the budget you spend on offline marketing, you won’t know what is working.

Marketing budget: Infographic

Here’s an infographic with a few more tips on managing a tight marketing budget —>

how to manage a tight marketing budget YO! Marketing

by Yekemi Otaru

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4 Comments
  • Hello , I saw your tweets and thought I will check your website. Have to say it looks very good! I'm also interested in this topic and have recently started my journey as young entrepreneur. I'm also looking for the ways on how to promote my website. I have tried AdSense and Facebok Ads, however it is getting very expensive. Was thinking about starting using analytics. Do you recommend it? Can you recommend something what works best for you? I also want to improve SEO of my website. Would appreciate, if you can have a quick look at my website and give me an advice what I should change: http://janzac.com/ (Recently I have added a new page about FutureNet and the way how users can make money on this social networking portal: http://janzac.com/how-to-earn-money-with-futurenet-and-futureadpro/ ) I have subscribed to your newsletter. :) Hope to hear from you soon. P.S. Maybe I will add link to your website on my website and you will add link to my website on your website? It will improve SEO of our websites, right? What do you think? Regards Jan Zac

    Reply
    November 23, 2017 at 6:57 am
    Posted by Jan Zac
    • Thanks for getting in touch, Jan. YOu'd need to experiment with several marketing channels to see what works for your business. For analytics, I use Google Analytics. But there are other tools from Adobe. If you email me on info@yomarketing.co, I can learn more about your business and see what could help. :-)

      Reply
      December 9, 2017 at 11:00 am
      Posted by yekemi In reply to Jan Zac
  • This is а topic which is close to my heart... Many thanks! Exactly where are your ϲontact detailѕ though?

    Reply
    November 24, 2017 at 4:09 pm
    Posted by fight
    • Hi there, my contact details are here http://yomarketing.co/contact-yo-marketing/ Or email info@yomarketing.co - Thank you.

      Reply
      December 9, 2017 at 11:01 am
      Posted by yekemi In reply to fight

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