The simplest way to describe a situation that an average is facing when it comes to marketing would be to say that when the budget is low, the impact must be high. You see, when you have a formidable marketing budget, you have a pass to make a couple of mistakes here and there. For a startup that operates on a tight budget, every single dollar makes a difference. With that in mind and without further ado, here are some high-impact marketing solutions that all startups should know of.
1. Focus on the right target
Knowing everything relevant about your target demographic tells you all you need to know about the right course of your digital marketing campaign, as well. For instance, by knowing which social media platforms they prefer, you will be able to optimize your content for them, as well as invest as much as you can in adds for this particular platform. Also, different demographic groups have different preferences when it comes to the way they use these platforms and the platforms themselves have an ideal time for posting (if you’re to get a maximum reach). All in all, focusing on the right target and thoroughly studying them is the way to go.
2. Look for referrals
The next thing you need to focus on is earning some referrals. There are a lot of people who are willing to write a positive review of your business and even refer you to others in person. The best way to do so is to focus on customer retention. This is also a cost-effective method, seeing as how it costs you one-fifth of the price to make the customer come back when compared to the cost of making a new conversion. The further you push a customer down the customer lifecycle path, the better off you’ll be.
3. Think about cost-per-conversion
One of the best ways to evaluate the impact of any marketing method or strategy is to ask how much is the cost-per-conversion. You see, when it comes to old-school promotional merchandise like a brochure, you might have to hand out a number of items before scoring a single conversion. With a well-placed printed fence mesh carrying the message of your brand, you get to invest once and then reap benefits of this investment for days, weeks and months to come. This way, you achieve ultimate cost-efficiency. Still, the quality of design must be high and the placement has to be right.
4. Quality of content marketing
Your content marketing is one more thing worth discussing. Namely, by improving the quality of your content, you’ll gain the loyalty of your audience, as well as get some favor from search engines, as well. The first thing you need to do is improve your writing. Take more time and put more thought into providing new content. The industry average in 2019 was 3 hours and 57 minutes per post and what you’re aiming for should be above average. Second, check the quality of links that you’re using in your content (check their domain authority, etc.). Lastly, make sure that any information you offer is up to date.
The very last thing you need to keep in mind is that your marketing budget is relative to the size of your enterprise. You see, the majority of enterprises set aside anywhere from 10 to 50 percent of their average annual revenue for marketing (depending on how competitive their field actually is). This means that you may have more maneuvering space within your own price range than you may have initially thought that you have. All in all, the above-listed four solutions are more than welcome in addition to your marketing strategy.