5 Ways to Maximise Your Marketing Budget in 2017
No matter where you work – and whether you’re marketing on behalf of yourself, a small business, or a large corporate – you’ll appreciate the need to make marketing magic happen on a shoestring. It’s not that all marketing budgets are small, per se, but the reality is that there always tend to be more good ideas than there are finances to execute them. So it’s important to find efficiencies and work out how to achieve maximum bang for your buck.
This month, I wanted to share five ways to maximise your marketing budget that you might not have thought of yet…
1. Influencer marketing:
Along with the fall in traditional outbound marketing is coming the subsequent rise in influencer marketing. For those of you not quite sure what I mean, influencer marketing could also be identified as that grey area between an official testimonial and a passing product mention. Influencer marketing enables you to get targeted exposure to the right kind of consumer, and the bonus is that those consumers are already interested in, and paying attention to, the influencers they have chosen to follow. Influencer marketing is relatively inexpensive in New Zealand and, because consumers trust recommendations from a third party more than from a brand itself, it can produce excellent ROI.
2. Mainly mobile:
Regardless of whether you were investing money into it before, there’s no denying that mobile marketing is important now. Research claims that we spend an average of 195 minutes per day looking at our smartphones and it’s thought that, by the end of this year, mobile commerce will command 24.4% of overall ecommerce spend. Mobile marketing enables you to reach larger audiences, in a way that is both real-time and personal, so it is imperative that you spend at least as much (if not more) time and effort optimising your mobile experience – especially if you’re in retail.
3. Google Shopping:
If you sell anything online, this is really something you need to get amongst. Available for some time in the US and across the ditch, Google Shopping has finally landed in New Zealand – bringing with it high conversion rates and low costs per click. If you have an appropriate product, this is a surefire way to attract more site traffic and ensure your place in the consideration set of consumers. Its one negative, that I can see, is that it positions you more as being about price comparison.
Around for a while (and used extensively) internationally, advergaming is not something of which many New Zealand businesses have taken advantage. Effectively a game that is redesigned to feature your brand, and provide entertainment with a view to engagement, advergaming is comparatively inexpensive and can be great for lead generation and brand exposure. Check out Kiwi emerging player Ikemu’s website to find out more and read their case studies.
5. Get virtual with video:
Gone are the days when you need to invest thousands in a professionally produced clip that’s been story-boarded and pre-scripted. While there is still a place for media with high production value, tools like Facebook Live are opening up a whole new world of opportunity for promotion and audience engagement. Not only that, the tool generates an impressive amount of real-time engagement data, enabling you to tailor your content, or improve subsequent posts as you go.
Richard Conway is Founder & CEO of Pure SEO.