How To Plan A Cost Effective Digital Marketing Strategy?

Cost Effective Digital Marketing Strategy

Small businesses have often low budgets. But, even if you have a small marketing budget, you can put digital marketing to work for your business and you will witness superb ROI. You can make the most of your marketing endeavors with the right digital marketing approach.

Let’s find out how you will make sure that every dollar spent has a real chance of converting into a brand-new customer.

  1. Establish your Business Goal. Ask yourselves – What is my objective?

Goals set your destination and working without a goal leads to failure. That’s why you should have a perfect intention in your psyche. However, you should not forget to align your goals with your cost-effective digital marketing strategy.

Clarity of goals can help you save a lot of time and money because you will not keep hovering around, trying multiple things at a time. You will only work on a specific set of marketing activities and avoid random (or unwanted) marketing activities.

  1. Set a Budget

Set a budget after evaluating your resources, so that you can develop a proper Digital Marketing Strategy.

When you have a defined budget you can judiciously allocate specific budget to each marketing activity. You can also prioritize and choose which activity to be performed first to reach the defined objective.

Such a measure will also help you to find out if you have to outsource particular areas of digital marketing.

  1. Build Buyer Personas

Find out the target audience you want to focus on to achieve your business goals and classify your target consumers based on age, gender and location.

Once you have defined your audience, identify their personas (liking, disliking, buying habits and what makes your audience buy or reject a product/service). Take a dive into the target audience’s emotional desires, goals, aspirations, and fears.

Based on your buyer’s personas, identify where your audience can be found on the internet, what they are searching for and what kind of websites they are browsing.

  1. Strategize around Target Audience

Once you have understood the buyer’s personas you should put them at the heart of your marketing strategy. Strategizing around your target audience will save a lot of your money and efforts while you market your website to the generic audience.

Your Target audience is your prospect which can be classified based on their geographic location, age, gender, job profiles, and economic bracket. Employ a targeted marketing approach and find out if investing in a particular group will give you the high ROI.

One of the examples of target marketing approach is the marketing of Baby Products. Of course, you need not target the babies but their parents! Figure out how you will reach your target audience.

One way is to identify those websites which the parents of infants would be searching on Google like websites dealing with Baby Products, Baby Names etc. You can leverage such websites and publish content, generate links from these to get the qualified traffic.

  1. Design a Plan

Now that you have a defined budget, audience and goal, you can work on a strategic plan or a judicious marketing mix. While designing your plan make sure it is cost-effective, and a strategic fit which can take you closer to your defined goal.

Make sure you select the most appropriate digital channels to reach your target audience. Targeting correct mediums will help you in extracting a good milage out of your marketing campaign.

Do not forget to regularly review and update your plan with the ever-changing market needs.

Now, when you have everything in place, it’s time to implement the plan. Focus on generating traffic only from the websites which are having your target audience for which you can do the following:-

1. Guest Posting is a key strategy for every small business to build its online influence and that too in a small budget. Quality guest posts on the right blogs will always deliver extraordinary results.

Guest Postings help you get meaningful traffic. Once you have identified the buyer’s personas and their browsing habits you can identify the websites where you can contribute as a guest blogger. This will assist you to get backlinks to your website. Since the publishing site will have all relevant users, all the traffic generated through the link clicks will be your targeted customers.

Consider for example you are targeting customers of a baby product. You can find your target customer on a blog which is about the growing habits of infants or baby diseases and symptoms. Find out if the website is offering any guest post.

If the website is offering any guest posts, you will see different authors for each blog. You can also find options like ‘Write for Us’ or ‘Be a Contributor ‘or ‘Be a Guest Writer’.

You can reach the site moderator and offer to contribute as a guest blogger. You and write on any aspect associated with children, like those related to baby products or baby care. Finally, you can hyperlink appropriate text to your website from this blog. This will bring you meaningful traffic.

2. Influencer Marketing is essentially the fastest and cost-effective channel to acquire customer online because consumers today are more likely to consider product recommendations from non-celebrity influencers and bloggers before buying.

It is widely believed that influencer marketing attracts higher-quality customers to any business because social media users are more opulent (hence high ROI). Secondly, they are more likely to recommend products to their family and friends.

Now, there are tons and tons of influencer blogs, social media pages/profiles on each niche, available on the web. You can easily contact these bloggers or social media channels admins and get your post added to market your product for which you will have to pay a small fee.

Imagine your post going viral on a social media page which has one million followers. If it happens you can generate pretty good traffic to your website.

But make sure you identify the influencer of your niche only whose followers match your buyer’s persona.

3. Broken Link Building is a technique that SEO specialists use discreetly along with content marketing to generate traffic for your website and engage with the visitors.

You can start by identifying those blogs which are visited by your targeted buyers. These blogs will have some broken links. You can use any broken link finder tool to identify these links. Once you have found the broken links you can choose appropriate link which you can relate with your website link.

Then you can contact the author of the blog mentioning that

Hey I was browsing through your blog and I just encountered a broken link. Broken links are really bad from the user experience point of view, and I am sure you do not want to give a bad experience to your readers. I have a better page to link to from the same text. I also have a page on the same topic with the URL I’d really appreciate you if you can replace the broken link with this awesome page. This will give some good information to the users apart from a good user experience.
Please let me know if this deal works for you. Thank you’

I am sure this method will help you to generate good traffic.

4. Email Marketing – Email newsletters are the most cost-effective solution to communicate with your customers. Email marketing out-performs every other channel on ROI.

You can gather the list of emails of target buyers by connecting with your target audience on social media. Once you have been connected you can extract the emails of the users.

One of the Email marketing success stories is that of Uber. Uber’s Emails are simple but are highly personalized in nature. Uber gets straight to the point in their emails to communicate with its customers. These personalized emails are far from fancy, yet tasteful. Uber congratulates its customers on their first ride which is signed by their top Mangers.

It also gives you a personal promo code which you can share with your friends and family members. Such codes are mutually beneficial both for the company as well as the clients. It makes people feel important and affects consumer decision making. Referral strategies can augment your current holdings.

Apart from delivering welcome email, Uber alerts their subscriber base via emails regarding promotions, offers etc. Uber never forgets to deliver amazing summaries of their client’s rides, which has a detailed map of pick up and drop off location, a breakdown of the charges, and a snapshot of the Uber driver.

Such a perfectly designed Email Marketing strategy brings Uber a lot of business.

5. Growth Hacking – You can multiply your visitors and let your customers market your brand via Growth Hacking. It is a cost-effective channel to take your product or service to your target audience.

According to Neil Patel,

Growth hackers, using their knowledge of product and distribution, find ingenious, technology-based, avenues for growth that sometimes push the bounds of what is expected or advised.

Every business knows the significance of targeted marketing in generating high ROI. One such cost effective target marketing approach is referral marketing. It is an example of precision targeting, where you can expect more customers in your kitty as the campaign goes viral.

PayPal is one such company which successfully implemented Referral Programme to grow their business. It was a low-cost Growth hacking promotion techniques that led to incredible growth.

These referrals happened almost entirely via email, blogs, and IMs and Pay Pal literally paid their clients to refer new people like friends and relatives. However, you should note that referrals aren’t magic, and you should identify your own tricks and tactics which can help you multiply or get new customers.

The solution lies in a low cost but a high-performance digital marketing campaign. The methods described above can help you generate good traffic, at a low budget and therefore you can expect high ROI. But, make sure in all cases you have an optimized website with effective CTA’s so that you can have a higher conversion rate.

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