When innovation meets reducing the costs of running your small business, it’s a match made in heaven! If things aren’t going great in your business, marketing is always the first thing to go because it’s perceived as the biggest expense. But it doesn’t have to be that way. If you use marketing to your advantage and get smarter as a small-business owner on what and where you invest money, learn how to leverage it to work for you and its return on your investment, the world is your oyster.
The numbers speak for themselves. Studies have shown in 2024 that short-form video provides 31 per cent of ROI, high-quality still images provide an ROI of 22 per cent blog posts provide an ROI of 15 per cent case studies and podcasts or other audio content provide an ROI of 14-15 per cent.
What I do know as a solo small-business owner in the digital marketing area, is that these are some of the strategies I use with digital marketing, to slash the cost of running my business, and increase my profits. Here are three things that work for me:
Content marketing has emerged as a beacon for me as a small business to reduce my operational costs while effectively reaching my target audience. By creating and distributing valuable, relevant, and consistent content, I can attract and retain a clearly defined audience, ultimately driving profitable customer/new client action without breaking my bank.
With creativity and strategic planning, small businesses like mine, with modest budgets, can produce compelling and engaging content that resonates with my audience. This approach not only slashes my marketing costs by focusing on owned rather than paid media but also builds a long-term brand presence that continues to yield results over time. It’s the consistency with my content marketing and following a strategy that I have built for myself that continues to deliver results.
Search Engine Optimisation (SEO) is an invaluable tool to slash the cost of running your small business. I find working on this myself every week is a cost-efficient way to boost my online presence without the hefty price tag associated with traditional advertising methods. The higher my relevance as ranked by Google, increases the likelihood of conversion, turning my visitors into customers at a fraction of the cost of paid advertising campaigns. By optimising my website content, structure, and on-page elements like keywords and meta tags, I consistently improve my search engine rankings, making it easier for potential customers to find me, even with a sea of competitors, especially as solo small-business owner in the digital marketing area.
Email Marketing is a standout for my small business as a remarkably cost-effective strategy cutting down operational costs while maintaining a strong connection with my audience. It offers a direct line of communication with my customers at a fraction of the cost. By continually building and leveraging my email list and crafting targeted messages I can deliver personalised content straight to the inboxes of my potential and existing clients/customers, promoting what I sell without the need for expensive advertising campaigns. The beauty of email marketing isn’t only in its affordability but also in its versatility and measurability. You can see who has opened it, the percentage of opens, the number of clicks and bounce rates allowing me to fine-tune this strategy for maximum impact at minimal cost.
Unlike traditional advertising methods that often require substantial financial investment for short-term visibility, content marketing, search engine optimisation and email marketing, offer a sustainable and cost-effective alternative.
