Marketing campaigns play a critical role in brand positioning and a company's success or failure. Big brands are now spending a lot of money on marketing campaigns and expect the best results. Is there a way for business owners to run cheaper ads for their marketing campaigns?
Seven Strategies to help business owners run low-cost advertisements
Here are seven tips to help business owners run low-cost ads and optimize marketing campaign costs. These suggestions are appropriate for both startups and SMEs.
Social Media Marketing: Marketing via social networking sites
If you survey today's digital gurus, 95 percent of the experts will say, "Social network is the most effective marketing channel today."
Social media platforms with many users and interactions, such as Facebook, Tik Tok, Instagram, Gmail, Blog, Twitter, and others, have become essential in people's digital lives.
Facebook currently has about 3 billion users, Instagram has 800 million users, and Twitter has reached 300 million. This figure is bound to rise.
Therefore, don't pass up the chance to run low-cost ads on this platform.
Social media marketing, in particular, has the potential to generate powerful viral effects— going beyond space and distance.
Social media marketing is a cost-effective and practical solution. You can run an ad campaign of short videos at a bargain cost.
The greatest strength of social media marketing is the spreading speed. When a single user is influenced, it can significantly affect many customers, their relatives, and friends.
The most significant advantage of using social media platforms in marketing is providing a massive and intricate user database.
Marketers can learn about their customers' preferences for products or brands, how frequently they visit a website, how much they are willing to pay, and their customer's priorities and consumption habits by conducting surveys or observing user behavior.
Then they can determine the number of potential customers and design appropriate communication approaches.
Social media marketing is also an excellent way to build and maintain customer relationships.
You can create a company's fan page, a community group or a hashtag, etc., to build a community of brand supporters. You also can help or advise in answering questions and promoting more remarketing.
SEO (Search Engine Optimization)
SEO is an abbreviation for Search Engine Optimization - optimization of search tools, unquestionably one of the center activities in online marketing.
While traditional marketing can distract and attract customers, SEO is more sustainable as this approach relies on search keywords to direct users to websites.
SEO can generate a large number of customer leads. When you optimize SEO, the credibility of your website skyrockets, as does your company's reputation.
Content marketing is also one of the best ways SMEs can use to run low-cost advertising campaigns.
You may choose creative, trending content to market your products to the market.
Marketers using content Marketing should assume that potential customers will be interested in their products due to "curiosity," this can help to boost the conversion rate to a higher level. These potential customers will then move from the "curious stage" to the "desire to discover more stage" if your content appeals enough.
Video marketing is a huge trend now, happening across many platforms such as Tik Tok, YouTube, and Facebook platforms.
Statistics figured out that users are spending up to 1 billion hours on YouTube every day. This figure is multiple times higher than Tik Tok and Facebook. The potential for growth in video marketing is undeniable.
The best part of it is that video marketing is not expensive. The original idea and unique presentation are what set you apart from others.
A good tip in making videos for marketing is using stock footage to cut the cost, and using short-length videos can help you save tons of money. You should then upload the video directly to the company's social media accounts or free social media.
Video marketing is unquestionably one of the most cost-effective advertising methods for businesses in the golden age of streaming marketing.
Banners ads marketing
Banners ad is a traditional marketing strategy that is still useful today.
A well-designed banner strongly affects your potential customers. You will entice the customers to enter your store by using a great design banner with a meaningful slogan and CTA sentences.
Banners ads can also help in branding without breaking your wallet. You invest one time and can use it for a long time. In the long run, this is also one of the most affordable advertising options that leave a lasting impression on customers.
The explosion of social media has led to the development of partnership marketing, happening between brands and brands, or brands and KOCs.
Marketing collaboration between two brands allows both to access each other's customers and takes advantage of other benefits: such as distribution network, infrastructure, or brand identity.
An example of this strategy is brand sponsorships for popular TV shows and game shows.
When the MC introduces a game show and mentions sponsors, it is a marketing collaboration.
When visiting restaurants, shopping malls, etc., you will also see logos of delivery Apps such as Grab, Gojek, and Now. It's also called co-marketing.
Partnership marketing uses both parties' marketing resources for mutual benefit, which is one of the low-cost advertising options for companies looking for cost-effective solutions for their marketing campaigns.
Email marketing is one of the most affordable and cost-effective forms of advertising that has existed. While many companies have exploited their email lists to convert general audiences to customers, many are still leaving email marketing on the table.
With email marketing, you can easily impress potential customers and build long-lasting relationships with them in a direct way. A great way is using automated mailing tools to send general emails such as: thank you emails, successful transaction notification emails, payment reminder emails, promotions emails, etc., to save the effort. With personalized emails, you need to have a great writer to write impactful, highly converting emails to cater to the need of each potential customer group.
These days, a lot of e-commerce sites are doing an excellent job with this type of low-cost advertising. Email marketing is affordable, yet the conversion rate is worth using.
A remarkable notice when running an email marketing strategy is that you should personalize the sent emails.
In other words, different customer segments should receive distinct content which gives a more professional impression and makes customers feel more valued than mass alike emails.
Furthermore, statistics show that emails with business domains are frequently rated higher than personal emails.
Don't pass up running this low-cost advertisement while it's cheap and effective.
Suggestions For Lowering Marketing Costs
After each marketing campaign, many businesses expect to optimize costs to maximize ROI (Return on Investment). It would be best to keep the following things in mind to ensure that your overall marketing campaign is successful.
Optimize advertisement delivery
Before developing a marketing strategy, you need to analyze the data gathered thoroughly.
It would help if you first determine your target audience, including demographic details like age, gender, income, purchasing habits, etc. The more information you have, the more detailed your plan will be.
The more specific the target audience is, the more targeted the campaign can be. This aids in avoiding financial waste and cutting the cost for non-targeted audiences.
In addition, regularly reviewing the ads' performance allows you to understand the insight and adjust the target to reach your potential customers at the lowest cost.
Identify the right potential customers
Identifying the right potential customers is a critical skill in marketing. No company wants to waste money advertising products to people who don't need them.
Take advantage of marketing trends
Creativity is always an essential factor in marketing. Those who have the latest, better impressive ways of acquiring customers will be the ones to attract more customers.