Don’t Spread Yourself Too Thin
It can be tempting to spread your marketing budget out evenly over several different channels. However, if you have a very small budget, an omni-channel approach could be killing your performance. Small budgets can go a long way if they are managed correctly, but brands need to realize that they might need to pick and choose where to have a presence—they won’t be able to be all things to all people.
Don’t Spread Yourself Too Thin
It can be tempting to spread your marketing budget out evenly over several different channels. However, if you have a very small budget, an omni-channel approach could be killing your performance. Small budgets can go a long way if they are managed correctly, but brands need to realize that they might need to pick and choose where to have a presence—they won’t be able to be all things to all people.
Why it’s best to be hyper-targeted
With a small budget, there’s no room for stretching or waste. You want to see that return on ad spend (ROAS), in fact, you absolutely need it to be able to keep up your advertising efforts. With a hyper-targeted approach, you know that you’ll be reaching the right people, making it even more likely that you’ll get the clicks, engagement and purchases that you seek. With a hyper-targeted approach, you may have to make some sacrifices, but the idea is to reach the largest portion of your audience in a place where you know they’ll be.
How to get the most bang for your buck
So, what goes into making the most of a small budget? Here are some tips for making a hyper-targeted marketing plan work for you:
Focus on your biggest target audience – Getting to know your target market is important. You’ll probably find a few categories, but the majority of your audience will fit into some key demographics. Maybe an age range, gender, location, path to purchase or other defining feature. Focus on those folks for now.
One social platform – With a small budget, you’ll want to make sure that you can sustain marketing long-term for a consistent presence. If you’re on multiple platforms but find that you run out of budget mid-month, it’s time to reconsider. It would be better to have a strong, sustained presence on one platform than a weak presence on many. Pick the platform that most of your target uses.
Try email – Email marketing has a fantastic ROI and is much more cost effective than traditional direct mail. If you haven’t tried email marketing, give it a shot! Email marketing on average garners $42 for every dollar spent. Remember to optimize for mobile.
Track results – When your budget is small, it’s very important to make sure every dollar spent is bringing money back to the business. The best way to do this is to track results. If a keyword isn’t performing, click-throughs have dropped on some creative or you find that some subject lines outperform others, you’ll want to be able to adjust and maximize performance by swapping out keywords, refreshing creative or trying new approaches to your subject lines.
Small but mighty
Just because your budget is small doesn’t mean that it won’t get results. It does, however, mean that you need to be strategic about where you spend your marketing dollars. Don’t spread yourself too thin—you want to make sure that your marketing presence stands out!
Are you looking to hire a PR agency that can assist your sales team in providing targeted social media marketing services? Give us a call to connect with one of our marketing experts at Beyond Fifteen for social media marketing and management services.