5 Most Cost-Effective Digital Marketing Ideas For Small Businesses That Also Produce A High Return On Investment

Whether you’re a start up or established small to medium business, one thing is for certain. If your customers aren’t buying your products and services through online marketing awareness, then they’re buying from your competitors. Let’s stay and consider this reality for a moment longer. The question is not whether they’re buying, it’s where they’re educating themselves on the products and services you offer and who they’re buying them from.

So when you’re considering your entire marketing strategy for 2021, your question should not be whether to include a digital marketing strategy, it’s how many platforms and online strategies will best serve your revenue growth objectives?

Now that we’ve established that, let’s consider the second reality. Digital marketing campaigns can be both expensive and a “shot in the dark” exercise. Especially if you’re trying to do it all on your own and without any market and strategy research (check out my article on Why Having A Marketing Strategy Is A MUST For Every Small Business).

And let’s face it, as a small business owner resources are precious and limited.

In this article, I’ve put together 5 of the most cost effective and highest producing return on investment digital marketing ideas that you can implement in 2021 as a small business, without feeling the pinch.

#5. Optimise your website

Website optimization is a simple process that doesn’t require a huge time investment or technical expertise. It just needs to be done consistently. Optimising your website involves regularly improving speed, performance, design and user experience as well as adding keywords and phrases to ensure the site is easily accessible to search engines.

#4. Perform SEO on all your content

Similar to optimising your website, now make sure all your content is search engine friendly. Your blog posts, you social media posts, your ebooks – make sure they all contain key words and phrases. And don’t forget about checking past blogs and articles for SEO content too, they’re still located online.

#3. Create content rich, relevant blogs and keep them coming

Apart from ensuring your content is search engine friendly, it also still needs to be relevant, creative and engaging. This doesn’t cost you anything except quality research and time, but well worth the return in the long run. Also remember, your blogs are a long-term marketing investment, so you have to be constant and consistent with your blogging. I usually schedule a meeting with me once a week to get this done – at least it’s booked in!

#2. Engaging email marketing campaigns

There is an abundant source of free email template ideas and campaigns at your fingertips (online of course), so figuring out what campaign to put together shouldn’t be one of the excuses not to do it. Set up a leads form on your website, and always remember to ask if your visitors agree to subscribe. Email marketing has the highest return rate compared to any other form of digital marketing and you can measure and track your results.

#1. Get a Referral Strategy in Place

This is an often over-looked strategy, but I’ve introduced it as the number one most cost effective strategy with highest return on investment for two reasons. First, it costs you absolutely zilch, nothing, nada. Not in time, money or any other resource. Secondly, the return on investment it produces is explosive. Let me show you how it works…

You see, all you have to do with just one client, is give them the value they were expecting to receive! That’s it. In return, they go out and refer your company to multiple other people, that you don’t have access to, creating brand awareness and interest that you don’t pay for or spend time on.

If a referral strategy is not one of your top marketing strategy priorities for 2021, it should be.

Ready, set, GO!

Right, so you’re all set. The only strategy on this list that requires any financial spend  is email marketing campaigns (which is really a minimal investment anyway). Everything else is simply a time investment and with great time management skills you’ll fit everything in easily while watching your revenue grow steadily.

Happy revenue building!

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