How To Get More Results In Less Marketing Budget?

In the last few years, the competition in every industry has increased four times. Every day, a new player is coming into the market & providing yet another option to the customer. Due to endless options, it’s more likely that the customer will forget your brand easily. For example, we only knew about four to five shoe brands, but now we see more than 100 shoe brands in a mall and more than 1000 on the eCommerce portal. Today’s market is overcrowded, and due to limited time, the customer no longer cares about the brand.

So what to do in this scenario? With limited budgets, traditional advertising no longer delivers the same results. In today’s scenario, there is a need to change your marketing strategy because the behavior of your consumer has totally changed. Here are some of the ideas to get better output in your current marketing budget.

1. Spend on your existing customers

A study shows that if you increase your customer retention by 5%, your business will increase by 25% to 50%. Also, the cost of retaining a customer is lower compared to the cost of getting a new customer. Engage your existing customer in different ways. Try to give them some value, something that is useful to them. When I say this, I don’t refer to giving discounts or sending offer emails and messages. Nobody likes to push selling these days. What I am talking about is, giving them value without any condition of buying. These gestures are appreciated by your existing customers. In the digital space, they are your new brand ambassadors. The value to give them will be talked about and possibly shared on social media, which will result in a good return for your business.

2. Spend on search engine marketing

The first thing people do when they want to buy something is search for it on a search engine. Google is the new god of humans, and they look for all the answers to it. So if you know how to use it efficiently, there are good chances that your business will increase many folds. To your knowledge, currently, 18% of local Google searches for products & services get converted into business on the same day. There are two ways you can use the search engine. You can either increase your organic rank by spending on SEO, or you can spend on paid advertisements like Google AdWords, or you can go for both. SEO takes time to show its results and the time varies depending on the competition in keywords related to your business. Paid Ads will give you result from day one. I personally suggest you should go for both.

3. Reviews are the game changers

Some good testimonials can give you huge business. In today’s time, the consumer looks for opinions. They see what other people have to say about your product or service. Their decision to buy or not depends heavily on that. Make sure you ask your customers or clients to write some good reviews for you on social media platforms and other websites where review options are available for your product or service. If possible, take their video testimonials too, and put them up on all social media platforms and your website.

4. Re-Target your potential buyer

Google Re-Marketing tool is my personal favorite. It’s one of the least expensive marketing tools that produce great results. You spend a lot of money to get people to visit your website. However, after visiting your website, 95% of the potential customers forget your name within the next 15 days or less. Through Google Re-Marketing or Facebook Pixel, you can show your ad to the website visitor over and over again on various websites. You can change the ads whenever you want, plus the benefit is that re-targeting options charge only when the visitors click on them. It increases brand awareness and increases the chances of return if the potential buyer to your website.

5. Spend on Engagement

People encounter roughly 2000 advertisements on a daily basis. Remembering a simple advertisement of your brand is not possible. However, if you engage people in your marketing campaign, they will remember you for a longer period of time. We all know we can easily forget what we see or read, but if we participate in something, we can’t forget easily. So spend on the campaigns where your potential customer has to do some activities and engage with your brand. Something as simple as liking, sharing, and commenting in an online competition will also make an impact. In campaigns like these, you have to give some rewards in the end, but people love to participate in the prizes & publicity.

People are changing, and it’s important that you change your old marketing and advertising techniques. Try new, different, and customer-oriented ideas. You will get better results on the same or maybe a lesser budget.

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