How to Generate Company Growth with a Small Marketing Budget

You don’t need a multi-million dollar budget to generate significant returns in digital marketing. Many brands have built businesses off capitalizing on cost-effective opportunities to grow audience. Even in times of recession nationally and when a company has had their marketing budgets cut, there are still ways to spur growth in a consistent, long-term way. If you’re dealing with a slash in your marketing budget or are working with limited financial resources to begin with, here are a few ways to protect growth with a smaller-than-preferred budget.

Spend smarter.

Look at your digital marketing channels and spend smartly where ROI is highest. Although a small budget can seem inopportune for company growth, in a sense, all marketing has to do is to generate enough of a return on its main channels to justify continuing. Alleviate risk by spending smarter, according to what has the highest yield.

Critical value propositions.

Define critical value propositions. See it from your customers’ perspective. Define how you can save them time and money, and lay out why your products and services are successful. Even without a big budget, if you know your critical value propositions, you can use these to build out digital marketing strategies to match. This is likely your best chance at having your marketing message resonate.

Diversify when possible.

The more channels you invest in, when one channel fails, you still have the others to draw from. There’s eCommerce, video marketing, social media, SEO, and so much more. Choosing cost-effective channels, keep in mind risk. Smaller businesses don’t want to sink everything into one channel and then, lose it all. When appropriate, don’t hesitate to plan and execute a diversification strategy.

Nurture the customers you have.

When customer acquisition costs are what they are, you have to protect company growth by exploiting the leads you already have. Nurture them, keep customers happy, and introduce strategies like email marketing to keep them invested in your brand.

Focus on your offerings.

Tight budgets require a person to ensure their product or service offerings have maximum value set at an appropriate price point. When times are tough, it’s the time to put in more value into your brand, whether that’s adding into what you already have or discounting the price. Coupled with the right digital marketing techniques to promote it, this is to achieve a win-win for your business and prospective customers as you hopefully build your budget back up.

Strengthen your business’ ecosystem.

Direct sales are not the only revenue streams digital marketing can tap into. With only limited resources, think outside the box. Find new business partners online, go to influencer marketing, consider adding partnerships where appropriate, and diversify when appropriate. The stronger your business is, the more opportunity you can find to derive a return from.

Digital marketing is always changing and there are always new ways to benefit from the opportunities out there, even on small and shrinking budgets. If you find yourself wanting a partner, Unlimited Exposure are the experts in marketing online. We specialize in SEO, social media, video marketing, influencer, content marketing, eCommerce, and more. Allow us to sit down with you, draw up a plan on how to help your website find more growth, and we’ll show you how we can derive big results.