Most established companies will spend thousands, if not millions, on marketing every year. That have to do that to ensure sales levels stay at a reasonable rate, and consumers are thinking about their brand. Managers and bosses don’t seem to realize they could save a lot of cash by changing their approach. The best ways to reduce your marketing spend will depend upon the nature of your company. However, some tried and tested techniques work well across the board. Do yourself a favor and read this article carefully if you want to keep your profits in the bank this year. You don’t have to implement our ideas, but they should help to increase your knowledge.
- Utilize location-based social media tools
We can almost guarantee that you will promote your brand using social media during the next twelve months. It’s a great way to ensure the right people see your adverts, and you can target almost anyone. You can save money by utilizing location-based social media tools in most instances. They allow you to track people in particular locations and identify your market. You can send targeted messages to people who come within a certain distance of your premises that encourage them to make purchases. On top of that, location-based social media tools should help you to ensure only the most suitable people encounter your brand.
- Outsource video creation
Posting promotional videos on YouTube and social media websites is a wise move for your company. However, they can cost a lot of money to produce when you handle the task in-house. For that reason, you might like to find a good freelancer who’s willing to undertake the work. Just browse some of the top freelancing websites until you find something suitable. In most instances, they will create the video you need for only a few hundred dollars. That also means your marketing team can concentrate on more important matters.
- Compile mailing lists
Some business owners spend a lot of money on mailing lists to promote their brand. There should be no need to do that if you are achieving sales at the current time. Just start to save client and customer email addresses to your database. Make sure you add a tick box to your checkout process that allows them to opt out of the program. In most circumstances, people who have purchased from your company are happy to receive marketing messages. Just make sure you don’t send too many or they might become annoyed and unsubscribe. One email each week should suffice.
- Manage everything from one screen
Saving time is sometimes as important as saving money. So, it makes sense for you to take a look at some of the latest software releases for marketing professionals. Your team will waste a lot of time if they have to log into hundreds of accounts every day. There are software solutions out there that allow them to manage everything from a single screen. Hootsuite is a top choice at the moment for social media managers. However, you should research the market and determine which platforms offer the most benefits. There are thousands of review articles you can read online.
- Create a strategy right now
Blindly pushing ahead with your marketing ideas is not a sensible move. While you need to remain flexible, you also need to create a thorough strategy. You’ll get much better results if you plan everything in advance because you know your next move. Of course, new information might surface that means you need to adjust your methods. That is why you also have to keep your ear to the ground. Bosses without experience might contact a business adviser before developing their promotional schemes. Either that or you could outsource the entire process to a marketing agency. Just bear in mind they tend to charge a premium.
Saving money on marketing should be a top priority for many reasons. Firstly, you started a business to make as much profit as possible. That means it doesn’t make sense for you to waste money on promoting towards the wrong people. Secondly, you need to stay at the cutting edge of your industry. Beating the competition is never straightforward, but you’ll find it much easier if you have lots of cash in the bank. At some point, you might want to invest in TV or magazine ads that cost a lot of money. It’s hard to do that when you have wasted thousands on ineffective Facebook campaigns.
We sincerely hope that information will help your business to succeed in 2016.