Any marketing manager of a small to midsize business can conduct a good marketing campaign while keeping a tight budget. Hereunder are a few tactics and guidelines that will help you in marketing your business without having go beyond the limits of your budget.
1. Borrow Wisely
Beware of relying on traditional lenders if your funds run short: It might not always be the right move. According to Michael Cullinan, Director of Rapid Finance, a company specialized in finance and credit, “numerous lenders remain hesitant to provide funds without collateral, regardless of the company’s credit standing.” Therefore, some alternative sources of funding can include crowd sourcing and solution-based finance providers.
If you go for a solution-based finance provider, you keep more control over the process, especially when repayments must be done. Moreover, lenders of this type deal with persons with bad credit or no credit. If you get a loan of this type, you can rapidly obtain the needed funds, repay them in an appropriate way, form your credit score, and more.
2. Do It Yourself
Try to get the projects you feel ready to attack because many ones do not need specialized knowledge, like for example if you need to write a press release. Within your organization, try to find someone to take care of such tasks saving thus your marketing money so you use it elsewhere.
3. Make Use of Flexible Literature
If your business need to tackle many target audiences, you will need to create marketing materials for them, which tends to be costly. Nevertheless, by adopting a flexible literature, you will be able to cover these costs by creating a layout that offers numerous sections. Some sections may be used repeatedly, while others are tailored for the audience.
Examples of sections that are used again and again are the company background and the technical specifications. Meanwhile, the benefits of the product and the service will probably change. By selecting this option, you will save not only money, but also time.
4. Time Your Campaigns
Make sure you know when are the peak times for online ads and work about these times to get the best ROI. According to the FCC (the Federal Communications Commission which regulates interstate and international communications by radio, television, wire, satellite and cable in all U.S. territories), online traffic rises between 7pm and 11pm local time on weekdays. Thus, this is when you want your ad to show. Moreover, you can benefit from specials on many websites, which will allow you to make the most of your marketing budget.