Three Easy Ways to Maximize Marketing Budgets

Smart marketing is a cost-effective way to control business spending. With traditional marketing techniques going by the wayside, targeted and measurable inbound marketing strategies have taken center stage in business promotion. Google statistics show that 97 percent of consumers do an online search before deciding where to take their business, including individuals and business entities. As a result, there has never been a more vital time to manage the how and who of your online traffic. Getting creative with marketing, and not being afraid to reach out across the Web, can improve your online credibility and up your overall revenue.

Boosting profits and saving money is certainly on the minds of business owners, especially in recent years. With traditional lending options for businesses tighter than ever, finding money through alternative forms of financing or by tightening the company purse strings are often the only routes to raising more capital.

With less lending wiggle room, business owners are looking within their companies to find the money they need. This spirit of innovation has the potential for long-term company savings. Unfortunately, marketing budgets are usually the first to be cut. If this happens to you, here are a few ways to market your business on a budget.

Forge Friendships. Stockpiling Twitter followers and Facebook fans certainly helps with online visibility, but these relationships are merely acquaintances. To really make an online impact, look for partners in the marketing journey. Seek out complementary companies that are interested in cross promotion. Swap out guest posts on each other’s blogs. Post banner ads of similar specs on each other’s company sites. Split the cost of sponsoring a fundraiser, especially if both companies are located in the same geographic area. These promotion costs tend to be very low – and sometimes cost nothing.

Establish Expertise. The whole point of strengthening Web presence is to make more money in the end. Though it may seem counterintuitive, avoid the inclination to always be selling something. People tire of worn out sales pitches and become indifferent to promotional messages. To really garner a following and build customer satisfaction in the long run, give out some free advice. Add reputable articles to your website and give your expert opinion on industry trends or products in blog posts. Give readers insight into why you and your company should be trusted on particular issues.

Get on the Virtual Map. Have you ever visited a search engine and looked up your business name? How about the keywords associated with your company? What about those keywords paired with your geographic area? Can you find your business by looking for it online the way that potential customers will? This may seem like a very basic point, but clear visibility online makes a financial impact.

If you have a physical location, make sure that your address is correct in online directories like Google's Places for Business, ChamberofCommerce.com’s online business directory, MerchantCircle and Yelp. If you operate virtually, make sure your sites are keyword-rich and implement the principles of search engine optimization. You can get a lot of free advice when it comes to these strategies by researching them online; you may also want to consider paying a firm for help. The money invested in long-term Internet initiatives pays for itself in higher Web traffic and ultimately, higher sales.

Savvy marketing is just one way to improve your advertising budget. The Internet has made it possible to reach a wider customer base in cost-effective ways. Even if you have already implemented some of these suggestions, revisit your marketing strategies and look for easy ways to make them work harder for your company. Just a little bit of tweaking can mean a lot of extra cash saved and earned.

Megan Totka is the Chief Editor for ChamberofCommerce.com. She specializes on the topic of small business tips and resources. ChamberofCommerce.com helps small businesses grow their business on the web and facilitates connectivity between local businesses and over 7,000 Chambers of Commerce worldwide.