Shoestring Budget Marketing 101
Is your business on a shoestring budget? If so, it’s important to set
realistic goals at the start for your marketing. Oftentimes it’s better to see small measurable
responses to marketing efforts so your business has time to respond and adapt.
By putting together a targeted strategy for growth, your business can develop
over time rather than in a chaotic fashion.
Step 1: Know Your
Goals
What does your marketing need to achieve? Is it a certain
number of new customers? Are you launching a new product? Whatever your goals are,
everything in your marketing plan must be centered around achieving them. Be sure to prioritize the most important to the least important as well.
Step 2: Analyze Your
Platform(s) for Delivery
What path does a prospect take to becoming your customer?
What does your ideal customer look like? Are you staffed appropriately to
handle new customers? Do you have enough products on hand? What is your
contingency plan if any part of the system does not work as expected? Are your
marketing materials properly targeted and up-to-date to represent the company
in the best possible light?
If you answered “no” or “don’t know” to any of
these, fix these areas first before starting your marketing campaign.
Step 3: Establish a
Budget
How much are you willing or able to spend on marketing? Many
small business owners have little understanding marketing costs. As a result,
there’s often sticker shock.
The general rule of thumb is 10% of your annual
business income should be put toward marketing efforts. If you’re looking to
grow your business, your marketing budget should increase in proportion (i.e.
2% growth means an additional 2% into your marketing budget). You will see
better results with slowly increased investment over time rather than spending
large amounts all at once or one time so be consistent and patient. Marketing
takes time.
Step 4: Select An
Expert Partner
Many business owners may wish to do their own marketing but
while you’re busy being everything to everyone, you’re not as effective.
Leverage your strengths and minimize your weaknesses. Find an expert in marketing
and communicate your needs throughout your campaign to maximize effectiveness.
Step 5: Review &
Respond
Once your marketing campaign has been running for a short time, review
the results. Are you getting the desired results? If not, what changes should
or could be made to reach the goal? How are your systems doing with the new
prospects?
By following these simple steps, you’ve set your business up
for successful growth, regardless of your marketing budget.
Have fun watching your
business grow!
Charity
Kountz is a Marketing mastermind with over 15 years business experience. A
successfully published author, public speaker, and trainer, her passion is
helping other small businesses succeed. Kountz Marketing Group specializes in
traditional and internet marketing including website development and
management, SEO, social media, and much more. To learn more, contact Charity
via Twitter or email charitykountz@gmail.com
