Four tips for a marketing budget without the extra 10%

A budget needs a contingency plan, right? Ask an expert and they will say ten percent should enough to cover the costs of marketing. Of course, if an SME had extra money under the mattress, it wouldn’t need to cut costs. So, the firm has to create a budget on a shoestring which isn’t easy. The good news is there are ways to cut corners without harming the bottom line. Even better, none of the following should incur a ten percent fee!

Paid media

There is something dirty and a little naughty about paying for advertising. Idealistic companies like to do it the natural way, but organic products always cost more. Paying for results seems like a potentially expensive and ineffective method yet that is down to the strategy. Businesses have lost money with PPC because they didn’t know how to use it properly. With the right keywords and a solid SEO plan, the ROI should be steady. A firm which understands it can use pay-per-click marketing to target interested consumers will also get positive results. The key is to specify the plan and not through money around without a care.

Paid employees

Almost every employee will get paid for their time. Otherwise, no one will come into the office! However, it’s the paid workers who need reassessing because some are more important than others. Regarding cutting costs for a budget, an accountant is crucial, as is any payroll specialist thanks to their expertise in the area. The catch is trying to find one without wasting money as recruitment isn’t cheap. The Portfolio Payroll recruitment agency is an option as is Hays or Marshall Moore. Online, resources such as Reed are handy too as recruiters tend to get it right the first time.

Paid social

One myth which companies have to bust is the importance of organic social media posts. Followers love original tweets but they only reach a small percentage of the population. To get any kind of traction, businesses have to put their money where their mouth is and pay for advertising. Another alternative is to promote posts to raise visibility and awareness of the brand. Consumers like to think they are different yet can’t fool their subconscious. The more they see a piece of marketing, the more it will stick in their minds.

Paid re-marketing

People click on the site and leave without making a purchase or filling in a form. To dismiss them as uninterested is a huge mistake because they landed on the page in the first place. They are potential leads but need a gentle push in the right direction. Step forward re-marketing ads which appear on other websites on the internet. As soon as a customer sees the ad, it could encourage them to go back. And, once they visit the site a second time, they are more likely to make a purchase.

Creating a pinpoint budget is all about spending the money wisely. By targeting interested customers and reaching out, there is no reason to overspend.

*This is a contributed post

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