Why You Need a Cost-Effective Digital Marketing Strategy in 2021?
Digital marketing helps businesses in their growth. Like any other business activity, digital marketing has its costs and expenses. Having in mind how demanding and expensive is to run a business, some businesses may hesitate to spend some extra assets, especially without assurance of results.
Considering the impact 2020 had on businesses we are aware of the challenges they will face in 2021. Some businesses will have to cut their marketing budgets. That’s why it is important to know in which directions you should go to create a cost-effective digital marketing strategy.
So, many businesses look at marketing budgets as a conglomeration of expenses. The truth is that they don’t really know what is a digital marketing strategy. It is an investment because you need to get your word to your customers if you want to be heard. If you don’t use the benefits of digital marketing, you won’t know your online audience. Also, existing and start-up competitors will gain more market share.
Do you keep asking yourself “why do I need a digital marketing strategy?”
Let us bring to your attention one crucial point. The best digital marketing strategies are not always that expensive. We will guide you into some of the cost-effective strategies you can use to improve the positioning of your brand.
Everything Starts With Your Website
These days every single business must have a website. You can buy some affordable domain and after that, you can host it and maintain it by yourself or outsource it. Being present on the web is one of those digital marketing examples that are the most cost-effective. You have total control and ownership over the website. That means you can take your time in finding the right content and imagery for it.
You should consider that like everything else, websites also need constant changes and improvement. You should optimize your website considering the UX trends and of course the novelties in your business.
Extra tip: Include a blog section within the website. It will help you educate your audience about your business. Also, it will help you engage with them. Additionally, you can create a newsletter to bring your audience closer to your blog. You can publish your articles and blog posts there and send them over.
Use The Free Publicity
Another cost-effective marketing tip is to use the publicity. If you use it correctly it will help you increase brand awareness and it can help you to be active in your community. You should consider sponsorship of some community activity. It has to be something that is in correspondence with your brand.
When we are talking about publicity, you have to consider the local press release. If you are launching a new product, a new service, or you have some kind of big news about your company, publish it. The local press will be glad to have your story.
Consider sponsoring a customer appreciation day. Or even better - think about making customer research or a survey. Researches and surveys are always very likable content by newspapers. Lastly, publish the results and the collaboration on your website.
Take Advantage Of Social Media Influencers
Making new connections is always a great idea. We will take a look at influencer marketing as a modern digital marketing strategy example. Having a partnership with notable influencers can significantly help you increase your outreach.
You have to know that influencers have loyal followers that (blindly) trust their recommendations. Finding the right influencers can make a significant push not only in increasing brand awareness but also in driving more sales.
Influencers are a very successful “tool” for retail oriented businesses. You can collaborate with them by offering a higher price for a sponsored post. You can even agree with them to make a sincere and genuine recommendation of your products. You should listen to their advice when it comes to the way of presenting the products. They have the best knowledge of the way their followers respond.
You can choose another approach. You can tag the influencers in your posts if you think it is something they can relate to. You can ask them to share that with their followers.
If you struggle with finding the right influencer for your brand, you can always ask your friends to help. Also, social listening tools can help you find the right choice.
Increase Your Integrity By Creating Partnershipships With Other Organizations
If you are a small business with a limited marketing budget you may struggle with how to create a digital marketing strategy. It can be a good idea to partner with another business and pull your budgets together to make good things happen.
For example, you can ask for a newsletter mailout. Make the first step and email the business you want to make the partnership with. Tell them that you like their article about some relevant topic and that you want to include it in your newsletter. Telling them that your (similar) audiences can benefit from both of your contents and propose cooperation. Let your creativity work together and you can come up with some excellent ideas.
You can also work on co-promotions. Take over social media and promote your co-work to reach a wider audience. Consider if you can develop a digital marketing strategy in this direction and how you can make to most out of it.
Another interesting direction is co-webinar. You can find a relevant subject for both your businesses and co-host a webinar. Or you can host separate webinars and promote each other’s businesses.
Use PPC Ads In The Most Cost-Effective Way
Businesses with limited budgets are avoiding paid campaigns. That is a huge mistake. You can include PPC campaigns and still have a cost-effective digital marketing strategy. Since your marketing budget isn’t very expansive, you should make every dollar count.
Have in mind that PPC Ads get to the audience sooner than organic posts. This type of digital marketing strategy for a brand influence brand awareness. PPC also helps in lead generation. By using the right meta descriptions and value propositions your target audience will find your ads relevant. This also drives conversions.
Once you master the PPC advertising you will have a higher return on investment. That will allow you to cut expenses for converting the audience into customers.
Community Engagement Is More Important Than Ever
Communication with your customers should be your priority. Knowing well your customers can help you identify the ways and methods they want to be spoken to. You have to keep track of their preferences and needs because they can be very changeable. Something that they considered essential in the past, now can be a luxury. You must have those insights in order to choose the right approach.
Putting efforts into creating a strong community can help you understand how social media marketing is cost-effective. Create content around topics that your audience finds interesting and relevant. Do some research and surveys that will guide you in the right direction. Get to know what your audience wants.
Ask questions. Let your community know that their opinion matters to you. Ask for reviews to see how are they satisfied with your products or your customer service. Let them speak and give you suggestions for improvements.
Drive a discussion. Pick a subject that is trending at the moment and that is relevant to your audience. Start a conversation and let them offer their insights on the matter. This is a very friendly and genuine way to engage your audience and create a strong community. Organize such discussions often and give your audience something to wait for.
If You Can’t Do It Yourself, Outsourcing Is The Answer
We know that this may sound like the more expensive alternative. Actually, outsourcing is one of the reasons why is digital marketing cost-effective. Let’s look at it this way. When you have permanent employees for the job, you are not be only paying professional salaries, but also you will be paying benefits. Contrarily, paying a digital marketing agency or a freelancer to outsource your business is much cheaper.
You can consider a digital marketing agency for any aspect of the strategy. If you want great content on your channels, hire a content writer to make it happen. Since the imagery and other visual content is of extreme importance for the UX you should consider hiring a skilled graphic designer. You don’t want your creatives to look mediocre. We can provide all of these services and many others that your business may need.
Do your maths and find the alternative that best suits the needs of your business model.
Having a well-shaped marketing strategy is unmissable if you want your business to succeed. If you plan ahead and structure your strategy, having limited resources won’t be such a big matter.
Define your budget and decide which channels and tactics you will use. Shape your daily activities around that and make it happen. You should also consider that is very important to monitor your efforts and achievements. If there is a need for adjustment - do it. If there is a gap - fill it.
We tried to define the cost-effectiveness of digital marketing and we really hope that it will help you design your marketing strategy for 2021.
If you have any further questions don’t hesitate to reach out in the comments section or contact us!