It may seem like your company is allocating more and more money each year to advertise your business. Don’t worry; you’re not alone; marketing strategies are undoubtedly getting more expensive. With all these added costs, you may think, is marketing worth it? Our answer is yes. When done right, advertising has the potential to promote your business and drive sales. It also sets you apart from competing brands. The good news; not all marketing has to break the bank.
When diving into the pricing in marketing, it’s essential to understand what you’re paying for. Not only are you paying for an advertisement, but also risk, failure, salaries, resources, and time. A lot goes into executing an advertisement. FFM identifies nine significant steps starting with “set your marketing goals” and ending with a clear schedule and evaluation process.
not to mention everything that happens in between. A lot goes on to ensure your campaign is a success. As we look further into pricing strategies, marketing costs can vary based on scale, strategy selection, quality, and agency type. With all these moving parts and hidden fees, advertising can seem overwhelming, however it has many benefits.
Benefits to Marketing
Is advertising worth it? If you want to spread the word about your business, showcase yourself against your competition and engage with customers, then advertising is for you. Marketing benefits both big and small companies, new and old ones. LinkedIn Marketing Solutions highlights some of these assets, such as the ability to “generate leads, drive website traffic, and build brand awareness,” not to mention helping you to “engage with your community” and “attract followers and build brand awareness.” Want to start designing a campaign without spending too much? We’re here to help!
You’re in luck! Budget-friendly marketing does exist! Here are some ideas to get you started.
1. Local Print Advertising
One cost-effective marketing strategy is local print advertising. Local print advertising is a great way to reach your target audience via magazines. Start by identifying your target audience and your unique customer profile. Think, who is your ideal buyer? Your target audience can be based on various demographic characteristics such as age, gender, city or zip code, interests, income level, etc.
Once you have determined this group, you can begin looking into magazines that reach an audience with similar characteristics. You can connect with ideal buyers by running advertisements in these publications and increasing engagement.
2. Digital Advertising
Another affordable marketing technique is digital advertising. Taking your marketing digital is a great way to reach a larger audience and track analytics in real-time. There are a variety of digital marketing techniques to choose from, such as social media marketing, email marketing, search engine optimization (SEO), and pay-per-click marketing (PPC).
These options may seem overwhelming if you’re new to the marketing world. Fear not! By getting to know your ideal buyer, you can make informed decisions regarding which digital advertising outlet is most effective to use. From there, you can create eye-catching ad campaigns. One notable benefit of digital advertising that print marketing lacks is the ability to monitor real-time data and make ad adjustments within seconds. Digital marketing is a great way to stay connected and engaged with customers, especially as the online world continues to grow.
No matter what type of marketing campaign your company sets their advertising budget around, just know they don’t all have to break the bank. Digital and print are two effective advertising methods to publicize your company that don’t have to be wildly expensive. Knowing your target audience and creating a diligent and thoughtful campaign sets your project and company up for success!