U.S. companies are expected to spend nearly $120 billion on digital marketing by 2021. Given the rise of social media and the explosion of mobile devices, digital spending seems justified. However, smaller companies may feel they don't have the financial resources to compete. But success isn't proportional to how much you spend. It's primarily about building your brand and reaching larger audiences. Here are some cost-effective ways to do this.
Create Reusable Content
Producing marketing content that can be used on multiple channels will be much more cost-effective than creating new content for every platform. It will also help to maintain continuity in your message. This saves time and effort over developing material intended for specific uses. For instance, blocks of meaningful text could be changed only slightly to allow for changes to price points, places, or occasions. Coupled with a very small library of images, such as photos and logos, these elements could be resized, repositioned, and repurposed for both online and offline content that appears fresh but is highly consistent. Video views are expected to reach 69 percent of all internet traffic this year. A single video could be used on all your digital channels but edited to different lengths to accommodate various requirements or emphasize different points. Having created great content, think of ways to repurpose it before you replace it.
Multi-Channel or Single-Channel
Large organizations have deep pockets and entire teams devoted to marketing over different channels. That often leaves smaller businesses feeling at a disadvantage. However, there are many types of software available to help. Some allow for centralized monitoring and analysis of your campaigns across multiple channels, while others are made for particular areas such as gauging social media penetration or managing email campaigns. Your business has the option of working on multiple fronts or focusing your efforts on the specific channels where your target market is active. For instance, if you're focus is mobile users, you can host a completely separate mobile-friendly site for only several dollars a month and channel your mobile audiences to it. Multiple channels will boost brand awareness, but targeted channels may drive sales.
Track Your Campaigns
You'll be wasting time and money if you stick to unproductive marketing strategies. For every platform you use, and all content you post, be certain there's a way to track responses so that you know which are generating leads and sales, and which are not. Many social media sites provide analytic tools so you can monitor factors like audience size, mentions, likes and shares, and so forth down to every post. Google and Amazon provide similar tools. Be sure to regularly review the visitor stats on your website so you can recognize changes as they occur. Use codes on special offers or coupons used in various sources so you can track responses. Do A/B comparisons and track performance on every change so you can keep improving audience responses.
If you aren't devoting time and effort to social media advertising, you're missing a great opportunity. Facebook, for instance, has finally passed the 2 billion user mark. It costs nothing to create a profile. If you post useful material and engage in conversations, your following will grow. But like all conversation, your audience engagement has to be effective. The ability to persuade and negotiate are useful tools in any form of communication. If it doesn't come naturally to you, find resources to acquire some thorough persuasion training. Marketing conversation is about getting people to trust you and accept you as part of their routine. Being a social "friend" is a good way to stay in consumer thoughts and create a sense of confidence.
The most successful marketing campaigns are not about how much you spend, but how well you earn the prospect's trust. Learning to produce content that persuades is the first step to achieving this.