The unemployment rate might be at a six year low, but that doesn’t mean that all businesses are enjoying a big break. Many companies, especially smaller ones, are still struggling to keep their businesses alive. Budgets are tight, leaving less room for expanding marketing efforts, even though that is exactly what struggling businesses need in times of trouble. A tight budget means learning how to make your marketing dollars stretch as far as they will go. But how can you do this?
- Narrow Down Your Audience – This is important for all companies, but especially those who are facing financial hardships. Throwing money into advertising and marketing campaigns that aren’t focused on a specific demographic is a waste of money. Businesses need to first establish who their target audience is and then figure out the best way to reach them. Not all marketing techniques work for the same audience. For example, a social media campaign wouldn’t be a good choice for an audience over 65 years of age, but it would work for a younger demographic. Know your audience before developing a strategy.
- Effective Website Development and Design – Website development and design is an important aspect of marketing, but having a great website is useless if you don’t know how to market your website effectively. Search Engine Optimization, or SEO, has proven to be an effective tactic for improving website visibility, and a company can improve their SEO efforts by creating specific content to drive traffic to their site. Using local business listing services, like Google, yellowpages.com and Yelp, can also improve a website’s visibility and attract consumers to a business.
- Stand Apart From Competitors – If your company looks like every other company in the business, you’re going to have a hard time reeling customers in. Standing apart from the competition helps a business attract customers and retain customers. Creative graphic design ideas are a great way to set yourself apart from other, similar businesses. Logos should be professional and represent company values, but at the same time be different and flashy enough to grab people’s attention.
A company on a tight budget needs to be careful where it spends its money, but marketing techniques don’t require millions of dollars to be successful. Knowing your audience and how to reach them can go a long way and bring in new business. Read more here.