HOW TO DEVELOP A MARKETING PLAN IN A LOW BUDGET COMPANY?

Nowadays there is a significant number of small and medium enterprises that are willing to attract new customers, but they do not have enough financial opportunities to promote their goods and services. Nevertheless to the fact that everybody is aware of social media, email marketing, content marketing, it can be difficult to create a certain strategy that could allow to increase the number of consumers and boost revenue. In this article,  we will discuss some tips and strategies for developing a successful marketing plan.

Define your target audience

1. The first step in developing a marketing plan is to identify your target audience. It is really important to understand it, as this data will help to create more specified social media campaigns based on your target audience’s interests, preferences, and motivations. You can also use “buyer persona representation” of your ideal customer based on market research and real data about your existing customers. In a nutshell, a buyer persona is a character sketch of the target audience constructed on common traits and it helps marketers plan their strategies.

Leverage social media 

2. Social media platforms offer various ways to promote your business and reach your target audience. It is important to create accounts based on your target audience information. If your average buyer is a 60-year-old man, it is more likely that he would prefer following your group’s posts on Facebook instead of watching Tik Tok with makeup tutorials. Also, it is essential to mention that posts should be shared on a regular basis with quality images and appropriate text.   

Utilize email marketing 

  3. Email marketing is an inexpensive way to stay in touch with your customers and prospects. It helps to keep customer loyalty, however,  in some cases it does not work. Emails can be annoying for some people, and, as a result, lots of companies are sent to spam. It happens because companies send those emails too often: up to three times a week filled with useless information. The situation should be the polar opposite: rare emails with important and useful information for the customer. Last but not least, to ensure email marketing, you should collect as many email addresses from your website as you can, as well as from social media, and in-person interactions, and use them to send out newsletters, promotions, and other updates. You can also use email marketing to segment your audience and send targeted messages to specific groups.

Attend local events and network

4.  Attending local events and networking with other businesses can help you expand your reach and build relationships in your community. Look for relevant events and do not miss them. If there are no relevant events, make them on your own and invite potential customers and partners.

Create certain goals

5. There is no result without a goal. It is better to have short-term and long-term goals to have a mutual belief and spirit with your team. Short-term can be very simple and short: attract 1 new customer to the website, but it will bring the feeling of gradual success. Long-term can be stated for a long period of time: to make 1 million dollar revenue by the end of the year. It may sound impossible in the beginning, but everything is possible until you believe in it.

In conclusion, developing a marketing plan on a low budget requires creativity, planning, and a willingness to try new things. By focusing on your target audience, leveraging social media and email marketing, creating valuable content, attending local events, and using free tools and resources, you can promote your business and reach your marketing goals without breaking the bank.

What aspect of the article do you find the most useful? Look forward to seeing your comments below!