market budget

Managing finances can be one of the biggest challenges faced while starting out. Even well-seasoned enterprises can fall prey to unexpected cash crunches. On average, marketing budgets can account for as much as 40 per cent of a firm’s budget. Which can account for 8-10% of its revenue. This can be highly taxing for small firms it might also not be as effective as one might think.

While larger firms can afford to opt for more expensive marketing channels, rise of alternate, cheaper and efficient channels have levelled the playing field in the favour of smaller businesses. Traditional modes of marketing media like television, print, outdoor ads are still relevant yes, however, more businesses big or small are learning the importance of stepping up their social media game. And that is not the only alternative out there.

Let us dive a little further into a few strategies you can adopt to effectively market your brand while being on a shoestring budget.

Start conversations in the right Facebook groups. Launched in 2004, this simple tool has made the world increasingly smaller. It has also revolutionized marketing and made it into what it is today. Facebook groups are a great way to identify and interact with the right target audiences. 
Find groups relevant to your niche. Create and publish compelling posts and engage with the audience. Add value to conversations and you’re golden.

Content is King.
This is what drives new-age marketing. Good content will eventually help you increase engagement, generate leads and convert sales. To have good relevant content, you also need to be well-versed with what your competitor is doing and do it better. Make use of keyword tools to create efficient content and make sure that your SEO method is working in the right direction.

Capture with pictures.
Studies show that adding the right image to your content can triple its retention in the minds of the audience. Therefore, to make sure that your content stays in the minds of your target market, you need to make it image centric. This also makes it easier for a prospective customer to get the information you are trying to convey faster. Making him/her more inclined to give you their attention.

This can be further broken down by conveying the information with the use of catchy infographics. Make the content crisp and interesting, and the audience will remember you more. Basically, along with written content make sure that you do not overlook visual content. Infographics can attract lots of publicity and backlinks which results in improved keyword rankings and increased organic traffic. This strategy just takes little time and can be done at almost zero cost.

Choose your social wisely.
There are so many social media platforms out there today. If you are on a budget, it might be counterproductive if you opt to spread your resources across all of them. Instead, choose a platform that is most relevant to you. Study and identify where your intended audience spends most of its time and more specifically at what times of the day can you expect increased traffic. Choose those time frames to create and post engaging content. If you are more image-centric, stick to Instagram. If you deal largely with other businesses, LinkedIn is for you. So, make your choice wisely. If you are a small business, the key to thriving is making a big splash while being prudent with your budget. With the tools available today, this is no longer that big of an obstacle. All that is required is to know how to use these tools right to get the best results.