Digital marketing has greatly changed the way we do business. When done right, your digital marketing strategy can give your business the right level of exposure to your target audience, provide the analytics you need to convert those leads into loyal clients, and basically get you ahead of the competition in your niche.
However, for small businesses, especially cash-strapped startups, switching from traditional marketing to digital marketing is an additional expense not every business owner is willing to make. Depending on the digital marketing service that you need for your business, the price can range from $250 to a whopping $100,000.
Here’s a little secret: you do not need to spend a fortune for an effective online marketing campaign, you just need to be smart in choosing which technique best suits your business. Below are five cost-effective digital marketing strategies that you can use to boost your business growth:
1. Referrals
Referral marketing, or simply “referrals,” is perhaps the most budget-friendly amongst all online marketing tactics because you know exactly who you are marketing to rather than relying on demographic information. Another advantage in using this approach is that it lets your customers do the marketing for you, and many consumers trust personal recommendations over anything else.
We highly recommend that you use a referral program software to run your own campaign. Subscriptions to referral program software can range from as low as $29 to $500 a month.
2. Content Marketing
Content marketing is all about creating and sharing content like blog posts, social media posts, and videos to promote your brand and stir your target audience’s interest in your products and services. It’s a lot of work, so you may opt to hire someone to create and share content for you, but if you choose to do it yourself, it only costs you time and at least a $15 monthly subscription fee to a cloud-based video creation software.
3. SEO
SEO and content marketing go hand in hand. Search Engine Optimization requires your time and dedication to learn its technicalities. The process involves identifying the right keywords for your niche to drive traffic back to your website.
There are tools that you can use, such as Google Analytics, Search Console, and Moz’s Keyword Explorer to help you identify keywords and modify your website to include the right ones. The best thing about these online tools is that they are 100% free.
4. Social Media Marketing
Here is another strategy that will not cost you anything but your time. Social media platforms such as Facebook, Twitter, Instagram, and LinkedIn make it easy for you to promote your brand online and build a relationship with your target audience through engagement.
You may start by creating an account for your business and posting valuable content about your products and services. Working on improving your online presence every day will help you increase the number of your followers, who can help spread the word about your business, drive traffic back to your site, and generate leads for you.
5. Email Marketing
Many marketing professionals are predicting the death of email marketing, but a recent study shows otherwise. According to management consulting firm McKinsey & Company, email marketing is 40 times more effective than social media marketing.
The key to an effective email marketing campaign lies in personalizing and providing relevant content to your customers. Encourage your recipients to reply to your emails rather than simply adding a link that screams “Click Me!” Master this, and you will soon see the benefits reflected in your ROI.
Subscription to email marketing software like Mailchimp can cost as little as $9.99 a month. You may also take advantage of the free subscription plans before signing up for a paid plan.
Remember, before launching any campaign, ensure that you plan your strategy well. Hiring a digital marketing agency to help you with this endeavor might cost you a little, but this will help you avoid mistakes that could only mean a waste of time and money.
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