2020 has been a tough year for everyone, and with the rise of COVID-19 across the globe, the world economy has taken a significant knock. However, if there is one thing we have learned throughout the pandemic it is this: do not stop marketing and promoting your business, even when resources are low.
If you have a small marketing budget to work with in 2021, you simply need to be strategic about your priorities, and below we provide insight into how you can get the most out of a limited marketing budget.
Pick your ideal social media platforms and focus on them
Marketers are quick to panic when a new social platform is launched and begins to take off.
When Instagram and Pinterest began to grow in popularity, many brands scrambled to establish a presence on the platforms, without really thinking anything through. This is currently happening with the rise of TikTok, and many small businesses owners are trying to find the time and the resources to promote their new Tik Tok pages on top of their current social media platforms. Now, before your mind begins to race and before you wreck your brain thinking about what you could do for your brand on this new platform, take a deep breath and take a step back.
Before you throw all your resources into one, new and unpredictable marketing basket, ask yourself if you really get the results you want with your social media - and if your brand suits all the social media platforms.
It is great to be present on all platforms, but consider where your target market is, and which platforms garner your business the most engagement, leads and conversions. Figure out which works best for your business, and focus your time and money on a streamlined social media strategy that will bring you more business. For example: if your Facebook page and your Instagram page bring in the best leads, focus your social media budget on those pages and invest in them - after all, that is where you will see a return on your investment.
In this article we can’t advise you on what social media platform will work best for your business because it depends on your industry and your target market. If we had to try, we would say that most B2C businesses choose Instagram and Facebook, while B2B businesses have found incredible success using LinkedIn, Twitter and Facebook.
At the end of the day, TikTok may be the right place for your business if that is where your audience is present, so consider which platforms will bring you the best customers - and beginning budgeting for those social media campaigns.
Facebook and Lead Generation:Facebook offers a lead-based paid advertising campaign option - this is known as Facebook Leads Ads. This paid option is designed to collect information from prospective customers without them having to leave the social media platform. Your ad campaign can include a variety of options to help you gather information from individuals who engage with you marketing content. And because of this option, Facebook removes any added complications and lowers acquisition costs. This in turn allows for a much easier user experience which will help drive leads to your business.
Instagram and Lead Generation:Instagram lead generation is made up of more than a simple pretty post and a few hashtags. Lead generation ads are the best (and easiest) way to collect leads via Instagram and can be done in conjunction with the Facebook lead generation ad as mentioned above. To use Instagram lead generation ads you will have to create a Facebook page and an Instagram business profile.
LinkedIn and Lead Generation:LinkedIn is sometimes ignored when it comes to lead generation. However, it is the ideal platform when it comes to successful digital marketing and lead generation - particularly for B2B marketing goals. You see, unlike a lot of social platforms, on LinkedIn, you can target your audience on a deeper, more precise level. This includes geographic location, current company, past company, industry, profile language, non-profit interests, etc. This is why LinkedIn is ideal for highly targeted communications, which allows for higher conversion rates.
Creating consistent content is key on LinkedIn, but there are numerous tools you can use to your advantage to help generate quality leads. If you want to increase awareness and reach, sponsored LinkedIn content is one of the most effective ways to generate a new stream of high-quality connections and leads. LinkedIn also offers tools to help track the conversion rate of your InMail or Paid campaigns, which makes the process smoother and more efficient. If you want to start generating targeted leads on LinkedIn, this is absolutely possible with the right strategy in place.
These are just a few social media platforms that work well for lead generation.
As we said previously, social media platform options seem endless, but when you put in the research and the time, you can create the ultimate lead generation social strategy for your business - one that fits your marketing budget and reflects a great return on investment.
Email Marketing for Lead Nurturing and Relationship Management
Email marketing saves you time and money, and has the power to convert potential customers into loyal customers. You may believe that email marketing is not enough, and that you need to continue to invest your marketing efforts into direct mail or print marketing on top of your email marketing tactics, but if you are dealing with a limited budget, email marketing is not only cost-effective, it is exceptionally powerful when implemented correctly.
For perspective on why email marketing is best for your budget, Harvard Business Review studied the comparison between email marketing and direct marketing. To sum it up: direct mail ends up costing 100 times more than email marketing, and when it comes to Return on Investment, email marketing performs 95 times better than traditional direct marketing.
You can capture your email leads using social media lead generation campaigns (as mentioned above) or you can make use of lead magnets on your website. Lead magnets can be anything from “download our free e-book” to “sign up to our newsletter,” - and in order for a viewer to take said action, they will have to provide their contact details. Once you have their contact details you are able to design email campaigns that are personalised to the individual lead.
Quality Content Marketing
They don’t say content is king for nothing, and if you want your marketing campaigns to be successful you need to invest in high quality content - something that should not be left out of any marketing budget.
Producing high quality and informative content is the foundational step to building a successful marketing strategy. Without good and consistent content, all of the above tactics will not be a success.
By investing time and money into creating high-quality and informative content for your business, you establish your brand as an industry thought leader - which builds audience trust and leads to more clients. So, where do you begin? Start with focusing on a blog and post tips, and news articles regarding your industry. By doing this you have the ability to gain leads by solidifying your place as an industry expert on topics that your service or product solves.
Remember that the more helpful your blog content, the more potential customers will appreciate and trust your business.
Another important element of content creation is to make use of online marketing tools such as Search Engine Optimisation (SEO), social media platforms, and email campaigns. So, we can say with certainty that your marketing budget needs to make place for content creation - as content feeds into every other aspect of your marketing efforts.
Creating a strong marketing strategy for 2021 is vital and even with a limited marketing budget, you are able to create comprehensive campaigns that will show a great return on investment.
From quality content creation to social media lead generation and email campaigns, you are able to build your business online, and on a budget.
Marketing is vital for 2021, and we are here to help you grow your business through strategic marketing and lead generation campaigns that can be measured - and will show results.
If you are looking to implement a successful marketing strategy for your business, Nexa is here to help. Contact us today for all your marketing requirements for 2021.