In 2021, experts predict that the global CRM market will reach a market cap of about $113 billion by the end of the year.
This means that more than ever, businesses are investing more money into branding, marketing, and customer relationship management tools than ever before!
While this is great for advertisers and marketing agencies, but for business owners, marketing managers, and directors, it means that monthly marketing budgets and ad spends are becoming increasingly costly.
Therefore, we thought it might be a good idea to create the following blog post, outlining a few simple ways to help you reduce your overall marketing budget.
Today, most people think that blogging is a thing of the past.
However, it’s one of the best and most cost-effective ways to connect and interact with your audience. And this is precisely why, to this day, you’ll see major brands like Coca-Cola, Nike, Apple, or Amazon maintaining blogs.
The main benefits of blogging are twofold.
For starters, blog content is a great way to inform and educate your audience.
By doing this, you’re garnering a favorable impression and building trust and rapport with these people. In turn, they’re more likely to have a positive perception of your company.
When people see your brand in a positive light, they’re considerably more likely to either make a purchase from you or to tell other people about your company.
Secondly, blogging is one of the best ways to generate tons of free, organic traffic on your website, which brings us to the tip for reducing your marketing budget. Create a custom logo for your blog with a free app like LogoCreator.
Invest In SEO
Search Engine Optimization (SEO) is the process of optimizing your website so that it’s more readily visible to search engines and their users.
By blogging regularly, you’re creating new web pages on your site every time you click the publish button. These new pages (your blogs) are loaded with information and the keywords that your ideal customers are likely typing into search engines when seeking answers or solutions.
The more of these keywords you have on your website, the more traffic you should see coming in from the search engines.
However, there’s a lot more to SEO than just keywords and blogging, such as your PageRank, site speed, and backlink profile.
But it’s good to understand that blogging and SEO are cheap and easy ways to promote your brand, which should allow you to reduce your marketing budget in other areas, such as running PPC ads.
Analyze Your Data
Over time, it’s amazing how much raw data your business can generate.
One great way to reduce your marketing costs is to regularly analyze this data and examine what is and isn’t working for your company.
For instance, you might find out that one of your recent blog posts performed exceptionally well, drawing in a considerable amount of free, organic traffic from the search engines.
In this case, analyzing the data might tell you that you need to invest more time creating similar blog posts to the one that performed well or that you should be boosting or promoting that blog post using PPC ads.
Either way, the key is to dig into your business’ data and find what isn’t working.
Then, you can stop wasting your time and money in these areas, in turn, reducing your marketing costs in areas where there’s little to no ROI.
Reducing Your Monthly Marketing Budget 2021
In 2021, it’s easier than ever to spend massive amounts of money on advertising and marketing.
However, when you create better strategies, invest in the right tools, and dig into your data and analytics, marketing doesn’t have to be costly.