Have you ever heard of the term "moneyball"? It started as an analytical way to manage a baseball team that can’t compete financially with other teams. The idea was made famous by Billy Beane who in 2002 took the Oakland A's (the 2nd lowest payroll in baseball) to the playoffs using techniques that ranked players on both on-field output and cost.
There are tons of different ways to spend your money with marketing but when you're on a limited budget, you simply can't afford to swing for the fences and miss.
Let's take a look at 3 "moneyball" marketing techniques that cost little to nothing to implement into your strategy right now that will start getting you the results you're looking for.
Let’s start with the most obvious one — Social Media.
Building an audience over social media is free and relatively easy if you just post consistently on both a calendar and on a specific industry or topic. Using Hashtags also helps.
Read more about using Social media at this link.
Another way you can make more sales cost effectively is by using content marketing. What’s that you ask? Well, this very article you’re reading right now is content marketing.
It’s all about giving your audience content or information that they will genuinely find valuable in order to build a relationship.
This could be blogging — The useful kind, not what you had for dinner kind. Using either written posts or video using something like Linkedin, Medium, Tumblr or the blog on your site.
While there could be costs associated with developing the content, it’s 100% free to share. Some people use their phone to record videos and some people get 3 lights, a dslr, 3 microphones, 1 of which is garbage and a bunch of tripods... [That's me]
One of the cheapest marketing strategies with a high ROI is email marketing.
Email marketing is great because you can reach your audience much easier than organic search or social media. The click-through rate of an email is about 3.5%. That might seem low but compared to the average click-through of a Facebook post, .07%, it’s pretty great.
I personally use Mailchimp’s $10 a month plan since I have under 500 subscribers and I can say it's one of the cheapest and best tools in my marketing strategy.
Now, getting people to signup for your list can be a struggle but by simply making sure you're giving something your audience wants in return for their email, you can quickly grow your list.
You can read more about email marketing at this link.
As you may have noticed, part of the trade off in marketing if you don’t want to spend money is to put in a lot of consistent work. It might sound a little overwhelming but the best strategy is to try just one of these methods at a time and work on perfecting it for your audience.
Grow your business with video.
Let us know some details about you and your company and we’ll show you how video can help your company grow.