Featured image by Margaret M Stewart
Times are tough now. Many businesses are having to shut their doors, and millions of people are out of work. You’ve worked long and hard to build your small business, but once again you’re having to get by on a lean budget. You might even be wondering how your company will survive.
But with proper planning and execution, even on a lean budget, you can weather this storm. It begins with a strong marketing plan that keeps you highly visible and actively engaged with your target audience. Just use the four suggestions below as a guide.
1. Create Your Own Digital Media and Advertisements
If you have any type of background in marketing, you know that digital marketing campaigns can quickly become expensive to run.
RELATED ARTICLE: TOP 4 DIGITAL MARKETING TRENDS THAT DRIVE BUSINESS GROWTH
However, it does not have to be this way. You probably have all of the technology you need right now to generate great digital media campaigns on your own. For example, you can shoot and edit your own videos and upload them to various platforms for a fraction of the cost that you would incur when using a production company.
If you are lacking some of the software or tools you need for this type of digital media, don’t let a lean budget stop you. Instead, consider raising capital. We recommend comparing small business loans on a site such as Lantern Credit. Find out what your options are before making a financial decision on purchasing new equipment.
2. Stay Active and Vocal on Social Media
As you are no doubt well aware, hundreds of millions of people are active on social media each and every day. If your small business does not have a presence on some of the more popular sites, then you are really missing out on a golden opportunity. This is an inexpensive and often free way to advertise, so turn to this method with your lean budget.
Just remember that you need to stay active and visible for this strategy to be effective. Use it well and you will stay out in front of your target audience.
3. An Email Marketing Campaign Is an Effective Use of a Lean Budget
Email is also inexpensive. To make this strategy work, you will need to generate a customer database, which can be done on a lean budget. Then use this to send out targeted emails on a regular basis.
However, you need to make each email campaign count. So don’t overdo it, but do send out your latest promotions and information about product launches via email.
4. Optimize Your Business Website
Simply having a website is not enough. You need to make good use of it.
To do this, ensure that your website is optimized to be user-friendly. That is, make sure your customers can find what they need quickly and purchase from you entirely online. This is a way to grow without having to invest in a physical building.
Even on a Lean Budget Your Business Can Thrive
While your business might not explode with customers overnight, these strategies for marketing on a lean budget can help you embark on a pattern of sustained growth that you can live with. That is the key. You want to increase your visibility and be ready for when the economic situation around the country and world eventually begins to improve again. If you can do that, you will be a small business that is well-positioned for both the present and the future.
The Business Opportunities blog is here to help your small business thrive whether you currently have a lean budget or a fat one. Just bookmark our site and come back often for fresh ideas.