Cost Effective Marketing Tools and Methods
Here are specific, cost effective marketing methods and marketing strategies you can use today to increase your company’s exposure and profits. Marketing doesn’t have to be expensive to be effective!
Creative Strategic Marketing - Combine Marketing Tools and Methods
Creative Strategic Marketing is based on developing multiple Marketing Tools in concert to achieve an out-of-the box, competitively advantaged Creative Strategy. Marketing Methods should be integrated together for each cohesive Marketing Strategy, and then adjusted as the campaign proceeds and develops. Personally, I consider one of the most lethal combinations of Marketing Platforms are:
- Developing a subject Rich Internet Presence
- Online Marketing through Opt In
- publicise free online Articles, Newsletters, Guides, Webinars, etc. in a targeted Magazine Ad
This combination of print and online marketing is very cost effective, yet lucrative. Explore the possibilities.
The significant thing to keep in mind when executing multiple Marketing Tools, Forums and Methods in a synergetic strategy is to carefully track and supervise the results, making Key changes as the initiative develops. This is where an online / internet marketing platform is so valuable because it can adeptly track results (i.e. conversion rate, reaction rate) in real time.
The Online Marketing Calendar
A good Marketing Calendar is based on a 52 week year and helps considerably in planning and budgeting a Marketing Strategy. At any point in time, you can determine the best ads to run, what needs to be in inventory for the anticipated sales, the project costs and projecting sales. The calendar should be an online platform for maximum interactivity, utility, access, flexibility and integration. The Marketing Calendar should be fully integrated with the Marketing Strategy, Strategic Plan and Budgeting Process for maximum utility. The calendar should be in an expandable spreadsheet format to reveal all necessary details for each marketing method inside an overall strategy.
Great Marketing Methods
– Internet
- Highly targeted and super economical
- Extremely Interactive
– Magazines
- Targets your niche
- Creates credibility
- Establishes Identity and Brand
- Many magazines offer free months and some will even run your ad for free if you don’t renew to try to get your business again.
– TV
- Can be very cost effective
- Great for demonstrations
– Direct Mail
- Highly targeted
- Medium that allows you to go through the entire sales process.
- Augmented with Follow-up Mailings, Email and Telemarketing is very effective
– Canvassing
- Provides personal contact, which can be the most effective
- Backed by targeted mailings and TV advertising increases its conversion ratio
– Outdoor Billboards
- Constant Reminder
- Especially good for “Next Exit” Location traffic targeting
– Indoor Signs
- Capitalizing on your marketing’s momentum
- Can be the most important sign – even more crucial than outdoor signage
- Signs don’t have to be static: i.e. Video Message, Slide Show, etc.
– Online Marketing
- Absolutely the best medium which economically blends high interactivity with action
- Examples: Email, video & audio postcards, forums, blogs, websites, texting
- Very effective when content based
- Prospective customers are not constrained by time
- Good, targeted, updated content means repeat customer visits
- Great Follow up, Resale, Cross-sale and Up sell medium
- Exponential results when augmented by offline marketing
– Classified Ads
- Very cost effective for a broad customer base
- Targets the very hottest prospects
- Confronts your competition head on
– Brochures
- Only effective if united with online and offline marketing
- Always a good after sale piece to keep the customer thinking of you
- Code the brochure, ask the customer to pass it out and provide discounts or referral fees back
– Phone
- Telemarketing only effective if part of an Opt In Marketing Campaign, whether online or offline or both.
– Reminder Tools
- Refrigerator magnet is the most effective
- Double sided or folded business card which provides mini-brochure capabilities
– Trade Shows
- Targeted and motivated prospects
- Consider online versions
– Publicity
- Public Relations driven marketing can be cost effective. Establish reputation and credibility
– Community Relations and Sponsorship
- Establish powerful contacts and connections
- Great for image
- Great constant reminder
- Create an edge over the competition
- Needs to be sincere
Cost Effective, Yet Profitable, Marketing Strategies
Profitable Marketing does not have to be expensive! Some cost preservation tips:
– Cooperative Advertising
- Can save upwards of 50%. Partner up with a larger company, mention their name and get paid for the promotion. Spread the ad cost among associate advertisers.
– Per Order or Inquiry Payment Method
- Advertising costs subtracted after a sale or defined event.
– Survey your Current Customers
- Costs pennies to do, yet gives you the most up to the minute market trends. Plus gives you an opportunity to Cross or Up Sell the customer at the same time.
– Backend Products and Services
- Bundle your offerings to minimize your marketing cost per sale.
– Code your Ads
- Codes allow you to track and measure your marketing strategy’s results. By keeping ahead of the campaign roll out you can adjust for maximum cost effectiveness.
- Online tracking is the most beneficial and cost effective means of keeping your marketing costs in line with your budget, while providing you where the most profits can be made per marketing dollar spent.
– Don’t Use a Rate Card
- Make an offer for all your advertising – rates are always negotiable.
- A 30 second TV spot can be as effective as the more expensive 60 second one.
– Tap into Remnant Magazine Space
- Extra, unused ad space sells at substantial discounts.
– TV Ad Tips
- Tight scripts and excellent prior planning cuts down the time costs.
- Do your Ad in 3-4 renditions move session.
- Use a production studio during off-peak times.
– focalise Efforts on Established Customers
- Customers are 85% cheaper to market; Keep a good balance between Customer and Prospect marketing efforts.
- Exponentially expand your sales, cost effectively, through a Customer Referral Program.
- Up sell, Cross Sell, Cross Promote
– Combination Marketing
- A very cost-effective and successful combination is pairing a Magazine Ad with a Website. Offer a FREE Newsletter, Guide, E-book, etc and set yourself up as an Expert; mine the prospects data in a permission based, Opt In; Follow up free offering with product and service offerings.
- All your marketing efforts, mediums, tools and campaigns should be done in concert and combination as the results are exponential and the means cost-effective.
– Website Design
- Web Design, Development and optimisation is very important, crucial in fact, but can be very expensive. To cut costs:
- Create our own content
- Write articles on areas you have Expert status or cognition
- Look at the web and decide what you want your site to look like and sketch it out, as well as, organize the link structure.
- Then have a designer lay out the website in a user friendly Content Management System, and you input all the content. Have the designer / developer reexamine the site after your inputs for Search Engine Optimization tips.
- Tip: Consider hiring a Web Designer / Developer overseas, such as from China or India, etc. They charge about $30 per hour (or less) verses $75 – 100 per hour. Make sure to carefully review a Designer / Developer’s credentials, referrals and past projects, to ensure credibility and reliability.
About the Writer
This article is written by Frank Goley, business consultant for ABC Business Consulting. Frank is an expert in writing, developing and implementing business plans, business turnaround plans, business financing plans, marketing plans, strategic plans and web marketing plans. Frank offers comprehensive business consulting, business coaching, business turnaround consulting, and web seo, web development and web marketing consulting to small and medium size companies. Frank is author of the business plan book, The Comprehensive Business Plan Workbook – A Step by Step Guide to Effective Business Planning, and he has over 40 published articles on business success strategies. He also writes the Business Success Strategies blog.
