7 Creative Ways to Save Money on Small Business Marketing in 2018

Money used in running businesses adds up in no time that the owners wonder how. From buying equipment’s, getting your inventory and paying employees, there are ways you can cut cost especially in this harsh economic reality. According to research, 95% of small businesses die within 10 years, sometimes, the root cause of this is the lack of proper financial management. There are lean budget route you can take to avoid disaster and failure in the future. These advise on cutting cost on your daily running of your business will not just save your small business but also lift it when done well. So, let’s dive right in

Also Read: Why You Need To Have Your Own Website To Promote Your Music

7  Ways to Save Money on Small Business Marketing

  1. Make Content Marketing a cornerstone Investment: One of the best digital marketing strategies for small business is content marketing. Content marketing is the process that small business marketing takes in creating value to your target audience by providing useful information, articles and other Medias that’s related to your industry. Some company uses blog to drive traffic to their website and then market their products to this audience. Content marketing must be one of your top strategy in marketing your small business this 2018

  2. Hire Freelancers: From writing to designing advert copy and so on, it will be so nice to have an agency or an in-house professional take care of the creative and designs part of your business, but what about using freelancers or remote workers to do your designs and other creative stuffs you need done. This will save you a lot of money at the end of the year. There are so many platforms that exist now that you can get these freelancers. Up work, fiverr etc., you can even make use of the platform bidding system and make use of the best one you think will be good for your job. Another thing is freelancers stay up to date on strategies and information concerning their works, if you choose the best one, you can be sure to get some extra values, he might know some online influencers that you can make use of by just paying some token.

  3. Design an E-commerce Website and Start Social Media Marketing: Setting up a physical storefront is good and might be what your business need but if you are on lean budget, it might sounds very good to just start your business by setting up an e-commerce website where you can sell your products and services. This will save you a lot of money in renting a physical store, your home can be your storefront for now before your business grows. Another thing is that, setting up an e-commerce website gives you the opportunity to reach wide range of audience, when you focus on your online storefront, you can make use of social media promotions to start posting and reaching people that need your products and services. Social media marketing is one of the best digital marketing strategies that you can’t do without in this age.

  4. Fixed Some Cash: You had set up your store and buy some equipment’s and also stock your inventories but you still have some money left?, you can met up with your banker to have the money fixed for some period of time instead of leaving it in your company or saving account. This is what you are going to fall on when something go wrong in the future.

  5. Look into Bartering: You can ask for help from other professional’s. Do you have a skill you can trade off with a marketing professional, then meet up and discuss it. Barter system is the exchange of goods and services with goods and services. Since saving cost is a priority, find way to provide values to others that you know might get you something worthwhile from them. This can also take a form of partnerships where you share marketing budget with another business to get on a costly billboard or advertising channels.

  6. Consider Buying Refurbished equipment’s: Instead of buying new furniture and other equipment, why not go for the refurbished ones to save cost. You can get good used equipment online, A lot of them will still be in working conditions.

  7. Monitor Your Campaigns: Have you been running an advertising campaigns on offline or online channels, make sure you monitor them, keep using the ones that are working and stop those that are not working, with this, you will know what your target market wants and know how you can best serve them. This can also show you the channels best suited for your advertising campaigns.

Cutting cost on small business marketing can quickly add up if the owner did not embrace the lean approach in managing the cashflow and the overall finances of the business. The small businesses that know how to use this method will develop larger strategies that even this advises can work with.

 

Do you want to uplift your small business, Shoplife Digital Promotions team can craft a digital marketing strategies that works for your small business , contact us today for the overhaul strategy of your small business

What are some of the ways you are creatively saving money in running your small business? Leave a comment and let’s chat about this.

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