Today, the dynamics are pretty different for small businesses. They get to compete with well-established organizations – all thanks to digitization. At the same time, digital marketing has allowed small businesses to promote themselves aggressively and capture the market share. However, one thing that remains a problem is marketing costs!

Although digital marketing is cheaper, it still consumes a substantial chunk of business income. Some marketers spend thousands on paid advertisements, whereas others indulge in sponsoring activities. These strategies might captivate clients, but keeping the costs in check is crucial. If you are on a tight budget, look for cost-effective marketing strategies. Maybe, you can start a blog, capture leads through email marketing, or build an impeccable social media presence.

Having a marketing strategy that doesn’t cost an arm minimizes business expenses and maximizes returns. If you need help, let us show you the ropes.

Here are six innovative marketing strategies for small businesses that won’t break the bank.

Invest in Promotional Merchandise

The idea of promotional merchandise faded away with digitization. But surprisingly, it is still an effective and inexpensive way of marketing a business. It helps increase leads, sales, brand awareness, and customer loyalty. After all, promotional products give marketing campaigns a creative and unique flair. So, do you have any promotional products in mind?

Most people think of notebooks, pens, and business cards but aren’t these pretty basic? You have to look into products that offer value to the end user. Therefore, consider using a promotional backpack, t-shirt, or water bottle. You can add your company’s name, logo, and social media links to build a brand image. All branded merchandise uses a word-of-mouth technique, boosting the cost per impression.

Hop onto Local SEO

Most marketers believe their job ends after optimizing websites for the search engines. Unfortunately, that’s not enough to thrive in today’s competitive environment. You have to hop onto local SEO to maximize visibility on the search engine results page (SERP). For starters, add location-based keywords to the topics, subheadings, and body content. For instance, you can mention being the first organic baker of Portland or talk about selling fishing equipment in Alaska.

Next up, you have to get listed on online directories and ensure the information is the same across all platforms. It will ensure your business is visible and accessible to all those searching for it. Lastly, publish your articles on the website you serve.

Do you know the best part? Local SEO is free. Hence, your website can make it to the top and generate tons of traffic with a little effort and expertise.

Create Data-Rich Infographics

Recently, infographics have become a super powerful tool. They are visually appealing, easy to digest, and above all, people love to share them. In addition to educating the audience, this piece of content can drive up referral traffic and links. For making these infographics, you have to hire a graphic designer. If that seems costly, explore free tools by yourself.

You can experiment with Adobe’s free vector kits, Visme, or Canva. These tools provide all elements needed to make appealing and shareable infographics. As for the content, you don’t have to use any original data. You can find existing data, repurpose it, and breathe new life into it. Perhaps, turn your articles or podcasts into informative infographics.

Explore Different Social Media Channels

Nowadays, every business has an account on Facebook and Instagram. Well, these aren’t the only social forums we have today. From Pinterest to YouTube, there are a plethora of social forums waiting to get explored. You have to make a business account on such forums and start promoting your brand. You can even hire a creative team to update your social media accounts and increase followers. However, make sure you have a different content strategy plan for every account.

When people see the same content posted everywhere, it becomes annoying. Hence, set goals and visions for every account. You can decide how many posts you will upload every day and the results including, the target for the number of followers and engagements per day. Similarly, you can even create an editorial calendar for each account to schedule the posts and reduce workload. Remember, all the posts have to be relevant and brand-oriented to maximize conversions.

Build an Email List

Usually, the new-age entrepreneurs believe email marketing is dead. Believe it or not, a solid email list is worth its weight in gold even today. As per the stats, 78% of marketers believe email marketing is crucial to a company’s success. If you miss out on this, you are missing out on a huge audience pool. Email marketing has incredible clickthrough rates, ensuring the message reaches potential customers. So, do you have an email list?

If not, start creating lead magnets and sign-up forms. You can offer visitors something in exchange for their email addresses. For instance, you can create a lead magnet where users get 5% off their first order once they sign up. Likewise, offer a free demo or trial if you are selling software. People don’t mind giving away their emails when brands are offering something valuable in return.

Moreover, you can install email automation forums to send automated emails. These platforms have simple templates and send emails based on triggered events. If a customer leaves the page with products in his/her cart, they’ll receive an email. In short, the larger your email list, the higher is your business’s growth potential.

Guest Post on Industry Blogs

If you already have a brand’s blog, start posting on other influential blogs as well. It is an incredible way to build backlinks and direct traffic towards your webpage. In addition, having backlinks also helps gain a lot of power with search algorithms. Google sees other pages quoting your website, increasing your site’s credibility and rankings.

You can post on specialized online marketing blogs and publications for guest posts. But for that, you need expert copywriters to follow a particular tone and style.

Final Thoughts

The marketing world is evolving rapidly, and to keep up, you have to adopt the trends. However, that doesn’t mean you have to break the bank; instead, think of some cost-effective strategies to up your game. From content creation to branded products, there are loads of options to explore. All you have to do is determine which strategies best align with your business model and start capitalizing on them.