24 Oct Top tips for effectively marketing your business on a limited budget
The Telegraph recently ran a small business connect seminar to discuss the challenges SME’s and entrepreneurs face in marketing and effectively promoting their businesses. Limited budgets, lack of knowledge, time or resources were the key themes that small business owners highlighted as barriers to further investing in marketing.
If you are a small business owner, start up or entrepreneur these challenges might sound familiar. How do you ensure you’re raising the profile of your business through the most effective channels and reaching your target customers, whilst trying to establish your company?
At Living Room we offer a Personal Marketing Manager service, providing your business with the unique expertise you need to promote your business. Below we’ve listed our top three tips for effectively marketing your business on a limited budget.
1. Be clear on your target audience
Understanding exactly who it is you want to highlight your business to is crucial if you want your marketing to be effective. Mass marketing techniques such as newspaper and TV advertising will cover a wide range of people, but will cost a fortune and may not return the results you were aiming for. Understanding exactly who your service or product is most relevant to before you launch your marketing campaigns will help to return results more quickly.
2. Clarify your key messages
Once you’re clear about exactly who you want to speak to, you need to be clear about the key messages you want to promote. If you can define the key benefits, advantages, or reasons for using your product or service, it will be easier for your target customers to understand why they should engage with your offering.
3. Set defined goals
When you invest in anything, you’ll expect to see return on your money. When collaborating with a personal marketing manager, it’s important to be clear about what you expect marketing your business will deliver. Whether that’s a tangible increase in brand awareness or a certain number of potential new business leads – it’s crucial that you define the areas you will measure marketing activity in, so that you feel satisfied with the investment you’re making.
Living Room can help you to define these three key steps to help ensure that any marketing you invest in is relevant to your business and is as cost effective as possible to maximise your budget.