Managing your marketing budget shouldn’t be a daunting task. Keeping an eye on the bottom line is key when trying to decipher where you should allocate your marketing budget. In order to make sure your business is getting the most out of the budget set, you need to ensure that you’re marketing your company correctly in order to get the word out about your services and/or products in addition to creating brand awareness.

Did you know that roughly 50% of small businesses spend less than $300 monthly on marketing each month? That’s why it’s so important to make the most of your small business marketing budget which requires careful planning in order to get the highest ROI for your market sector.

Here’s Where You Should Spend Your Marketing Budget

    1. Email Marketing
      If your customers are providing you their information, make use of it! This not only opens the door to send out event or sales notifications, but it also helps keep them informed of what your business is doing. Sending a weekly or monthly newsletter is a good way to showcase success stories, or personal news such as staff additions, etc. Research from email marketing software company Constant Contact has shown that email marketing returns an average of $38 for every dollar spent. Rule of thumb for successful email marketing is to make sure the emails are mobile-friendly to ensure they can be properly viewed on various electronic devices such as a mobile phone or tablet when launched, and to pay close attention to subject lines in addition to the times of day you’re sending the emails to see what will give you the most responses.

    2. Company Website
      Roughly 50% of all small businesses don’t have a website. At Search & Be Found, we can’t stress having a website enough. Having a professional-looking website is one of the most important assets you can create for your business. Every business owner should invest in a user-friendly website because modern customers expect it. Most people find it convenient to simply do research on your company and brand to see what you can offer them through a website. Studies show 6/10 customers expect businesses to provide information about their business on some form of digital property, with more than ½ of these customers going directly to the website for product information. A website is where you can show who you are as a business, what you offer, where you’re located, and how potential customers can get in touch with you. Bottom line is, if your business doesn’t have a website, you’re missing out on customers who would like to do business with you.
    3. Search Engine Optimization (SEO)
      Just because you have a website, doesn’t mean you’re getting the appropriate amount of traffic, and it doesn’t mean you’ll get more customers. You’ll need to allot some of your marketing budget towards SEO efforts which strategically places keywords throughout your website to help your website appear higher in search engine rankings. If identified target keywords are implemented on-site correctly, they will help with your rankings. Search Engine Optimization helps to boost revenue by increasing traffic to your website, increasing sales, and most importantly helps to establish credibility with your online audience. Before any SEO efforts are done, you first need to understand where your current website is at and create goals in order to put a strategic SEO plan in place. Need help? Contact us, we’d be happy to help!
    4. Social Media
      Engaging on Social Media is important since over 80% of people have a social media account and are actively engaging with people and businesses online. Did you know that 50% of consumer purchases are influenced by something they have seen on Facebook? Using Social Media not only helps build brand awareness, but it increases your customer base and connects with current customers.
    5. Google Analytics
      Does your business utilize multiple marketing platforms such as your website, Social Media and Email Marketing? If so, we highly recommend setting up your Google Analytics account which can tie all of those channels into one place. Analytics allows you to see which platforms deliver the best return on your marketing budget. You can even set up A/B testing to see what ad content or images are getting the best response. This information is valuable and helps to identify where you can shift your efforts to make sure you’re coming up with the best possible marketing strategy.

    Bottom line is, no matter how you’re spending your marketing money, you need to make sure it’s working for your business and is achieving the set goals. If you’re not reaching your goals, you’re wasting your budget. Take time to look at how well each channel of marketing is performing, and where you could improve upon.