Today’s economy is a challenging space for everyone. Whatever your business niche or job role, you’ll have noticed rising prices across the board.
As a result, many leaders of companies, particularly small businesses, are looking to cut spending to reduce costs and improve their chances of surviving this latest crisis.
One area that many are considering cutting costs on is digital marketing, SEO and advertising. In fact, even the UK government is encouraging small businesses to halt spending on marketing and use the savings to reduce prices.
While no business should stop spending on digital marketing, there are ways you can cut costs by being savvier about how you spend your money and use your time.
By optimising your time and money, you can get the results you expect for your small business and lower your spending on digital marketing.
Here are some tips for small business leaders looking to make the most of their money and improve their brand recognition at the same time.
Bring Easy Tasks In-House
Among the simplest ways to reduce spending on digital marketing is to reduce your company’s spending on outsourced contractors and bring the tasks that your team are able to undertake in-house. Some tasks that require specific expertise, such as web design and technical support, might be cheaper to outsource, but tasks that don’t need dedicated training or that can be learned easily by your existing team, such as scheduling social media posts, writing short blog posts and checking for online reviews of your business, should be bought in-house to reduce your spending. Many of these tasks can be done quickly once or twice a week, so consider spreading them out among your existing admin team. In the long term, you might not be able to get the results your business needs from this approach, but it can be an ideal way to save money over short periods and help your firm cut costs during these trying financial times.
Know When To Outsource
While easier tasks can be done in-house and still be completed to a high standard, others require expert help. For example, having a functioning website that offers a great user experience is crucial for any company, and if you don’t have website design experience in-house, then you need to collaborate with external experts. If you get a website design from E-Innovate, you’ll get the full benefit of their expertise. This team has been providing web design in Surrey for many years and can give you the benefit of their expertise so that your site always meets the ever-rising expectations of modern consumers. Also, if your business sells its products or services online, you need to ensure that your website’s eCommerce facilities function correctly. Bringing these skilled tasks in-house can be expensive, as website designers and technical SEO experts often require a high salary, and their knowledge can’t be easily learned by administrators or other team members. So, choose the right outsourced team for the tasks you need them for to ensure that your company still achieves the reach and attention it needs to keep growing and earning revenue.
Make The Most Of Free Trials And Tools
Free trials are a great way to test out new software products you’re considering using before you pay for them. As such, you can reduce the chances of choosing a solution that doesn’t meet your business’s needs. The main factor to consider when using free tools is that you understand how long you have to use the solution for free, and when you need to cancel before you start paying for it. That way, you can review the solution and ensure that you only pay for it if you’re happy to keep using it for your business. Alongside free trials, you can also explore the free software solutions on offer. Some providers offer free versions of their products, and while they often have limited functions, this could be fine for your small business. As you expand, you can consider purchasing the paid version to help you to achieve future digital marketing goals. By making the most of free digital marketing tools, you can ensure that you only pay for solutions that you will get the most of and get some small tasks done without spending any money.
Choose Popular Social Media Platforms
Social media advertising can be a cost-effective way to get your products and services noticed and reach your target audience. Still, you need to make sure that you choose the right platforms to advertise on, to ensure that you make the most of your time and budget. Many small businesses are switching from traditional social media platforms like Facebook to fashionable and cost-effective options like TikTok. Using TikTok can save money on your digital marketing and allow you to quickly reach many potential leads, so consider choosing this platform for your business. If your audience isn’t on TikTok, then check out other options to find the right social media platforms that will help you to expand your business’s reach. By optimising your firm’s social media strategy and choosing the right platforms, you can reach your target audience and avoid wasting time, energy and resources on sites that aren’t as popular with your chosen demographic.
Set Realistic Targets
Cutting down on your digital marketing spending will reduce your reach and ability to generate and convert leads, but by using these tips, you can make the most of however much money you have available to spend. As your business expands and seeks to generate more revenue, you need to consider a new strategy for digital marketing, which might require a more significant budget. So, it would help if you were prepared to adapt in the future to ensure that your business is always able to achieve its digital marketing aims. When choosing paid solutions and services in the digital marketing arena for your business, consider the potential return on investment these tools have to offer, not just in terms of revenue but also brand exposure, reputation and more.