Do more with less & maximise a minimal marketing budget

Bang Australia

Making a genuine impact for your business with a minimal marketing budget can feel like a daunting challenge. Smaller businesses are typically working with smaller marketing budgets, and it’s both an art and a science knowing how much to invest to maximise your return. Too much and you blow your budget, too little and you miss opportunities. 

The good news is that with digital and data advances, your marketing efforts can now be better calculated to ensure a greater chance at success. 

In 2020 people are online more than ever before, and digital marketing is proving a smart way to engage with existing and potential customers. While the internet is a vast and noisy space, there are strategies to more effectively focus your digital spend.

 

Use digital and data techniques for more accurate audience targeting 

Streamlining the reach of your messaging to focus on a smaller and more targeted audience is a good thing even if that sounds counterintuitive at first. More relevant audiences will respond better to your  offering and this can curtail unnecessary spending while keeping tighter budgets on track. After all, using more data to do less marketing is a mantra here at Bang. 

Placing your digital message in the direct view of a customer who is showing intent to purchase not only sparks engagement, it also increases the chances of converting interest into a sale.

But who is your customer and where are they online? A good place to start is to know exactly who your customer personas are, keeping in mind you will have more than one - you could have up to 10. Define who they are and get to know them well. 

Once you start to understand your audience, you can use data to better define your customer behaviours, and then create more relevant content and deliver it to them in a more targeted fashion. Data science and innovative intent data platforms can optimise your lead generation, account-based marketing, and creative campaign execution at precisely the right time to the right people. These innovative tools and techniques can help determine who your customer is, where their digital space is, what they’re looking for, and how they research it. 

Once you have your customers identified, set yourself a marketing budget and track your spending closely. Monitor your successes and challenges and refine your budget - and where you spend it - as you progress. 

 

Social media marketing can be targeted and cost-effective

Invest in your own social media programs and continually analyse your results to improve your approach. With a very minimal budget choose one, maybe two platforms, and focus on a streamlined social strategy. Build your brand by using paid advertising to get in front of people who are not yet connected with you or familiar with your offering. The idea is to push prospects through the awareness and buying funnel to ultimately increase your number of paid results and leads. 

Partnerships in the social media space are worth a lot, so make friends on these platforms by joining specific groups and conversations, giving value to your audience and showing them you are an expert in your field. Digital connections like these are a brilliant and cost-effective way to drive organic leads and build on a brand image. These relationships are relatively low-cost to nurture and translate well to solid customer leads for your business.  

In the digital space, using SEO as a tool to drive customers to your website can cleverly help to convert your optimised website content into a clearer and easier user experience, not to mention assisting with landing higher spots in web search results. Think of it as a path you have laid for a customer to follow to your front door. 

Once you have your marketing strategies streamlined and focused to a more relevant audience, the digital world is a vibrant and dynamic space to navigate, with endless potential for new business and continued relationships - even on a limited budget.

Talk to Bang about our tailored programs involving data science and intent data, account-based marketing, design, content marketing and more.  

Making a genuine impact for your business with a minimal marketing budget can feel like a daunting challenge. Smaller businesses are typically working with smaller marketing budgets, and it’s both an art and a science knowing how much to invest to maximise your return. Too much and you blow your budget, too little and you miss opportunities.