With marketing budgets facing significant reductions across the board, each dollar spent needs to do more. This is only possible when you think about your most effective marketing campaigns and scaling those activities to achieve true success. When times are difficult for marketing budgets, improving performance is a must.
What can you do with a reduced budget? There are quite a few techniques you can apply that are easy to implement and cost little or nothing. The key is to get viral. Have others do the selling for you. Here are a few suggestions for getting started.
Start by making the most of what you have. A business of any size needs to consider leveraging each touch point. When you speak to a customer, call someone on the phone, or send and email, use that as an opportunity to educate or inform. When you think about all the touches you make on a daily basis, they really add up.
Start a referral campaign. You'd be amazed at how many companies do not have a standard procedure for acquiring referrals. It's simple to begin a referral campaign. The quickest way is to simply ask your previous customers for the contact information of others who might benefit from your product or service.
Focus on your communications. If you are sending letters, giving away business cards, or packing someones groceries, be sure to include a flier or message about other products and services you offer. You may even consider a special offer that can be included with each of these touch points.
Keep testing new things. Especially in tough times, it is very important to dedicate a portion of your budget toward trying new marketing methods or ideas. Even if it is just ten percent of your budget, all it takes is one success idea to have a significant impact on your lead flow or revenue.
Improving your marketing results doesn't have to cost a lot. Some of the most effective marketing campaigns cost literally nothing to begin - think viral marketing and you'll get the idea. Consider how you might be able to make the most of the campaigns that are already working and continue to scale them. To often, successful campaigns never fully realize their true potential.
Consider a free giveaway. A great place to leverage the power of free is with your website, store, or marketing communication. Ask yourself how you can attract more visitors or improve conversions. How can you acquire valuable information that will help you make a sale at that moment or at a later date. In today's world, consumers understand that free doesn't mean free. But consumers are often willing to provide a little information about themselves for something of value.
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