5 Tips To Get the Most out of Your Marketing Budget

by Vivien Smith on Friday 25 December 2015, 6:24 PM | Category: Marketing Management| View: 1266 views

A decisive element to operating any successful small business is developing an efficient marketing plan..

While titans of business have the ability to invest massive financial resources into their marketing needs, most small businesses don't have that luxury. The main principle for smaller businesses is to figure out how to get the best value from their marketing, which is what Linda and Mike Boyd of the Denver-area Instant Imprints franchise have done.

Owner Linda, and her husband, Mike, are leading practitioners in business development and have been working on their marketing plan for the past five years. Here are the top things points that Mike and his wife recommend when creating an effective marketing plan.

1) Don't waste time on useless things you are not good at

Mike said the first rule in creating a successful strategy is the realization that you should only do the things you feel comfortable with. For example, Mike and Linda have no experience in business management, but they are trying to do analytical work in the field they are confident in. So while outside advertising is something they are thinking of, they have not included it in their marketing plan, because it isn't something they're good at. Mike said that they devoted their resources to weekly emails, direct mailings and pay-per-click campaigns.

2) Use discounts and promotions to make your  clients feel special

Create attractive promotions centered on discounts, contests and giveaways. Offer discounts to customers when they spent $100, for example, they will get a 10% discount on their next purchase. Also, Mike recommends creating a loyalty-card scheme and spreading those offers via email, social media, in-store and through other marketing channels.

3) Do not wait for the moment when customers will spring up from out of nowhere.

The Boyds have worked at BNI and the Chamber of Commerce, acquiring new customers by becoming active in local networking organizations. Mike said: "You need to become a business leader in your community if you don't want to sit within four walls and wait for each customer to find you."

4) Be grateful. Customers appreciate when they are treated well.

One way the Boyds focus on gaining loyal customers is by always saying thank you, literally. Since they launched their business in 2004, the couple has sent thank-you notes to every single customer after each purchase. It is a good way to not only to leave customers with a good impression but also serves as a reminder to them that they can always rely on your service the next time.

5) Change everything that prevents your business grow.

Besides focusing on what they do best, small business owners shouldn't be afraid to change their plan when some aspects aren't working. While the Boyds have already set up a plan, all their tactics haven't lasted the four years. For example, they participated in a business Welcome Wagon program that introduced them to all the new business communities. While it helped them to come in contact with a lot of new people, it never turned into actual sales. So instead of spending money on such programs and events, they repurposed those funds to a Google Adwords pay-per-click program.

Vivien Smith is a California-based editor and writer at BestEssayPro who has nearly ten years experience in media marketing. She worked as a freelance in a daily newspaper in California, covering a wide range of topics, including education, social media, and sales marketing.

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