The marketing industry is growing day by day and digital marketing is the center of attraction when it comes to marketing during recent times.
As a startup or establishing a new business, promoting the services and products into the market is one of the essential things for being successful.
Social media platforms are always preferred by marketing professionals for generating efficient outcomes with minimal investment. But what if we try to use social media platforms in the same way for marketing purposes?
Without enough investment on hand, you’ll have to rely on organic traffic and growth that you can achieve through providing valuable content.
However, this is a time-consuming process and doesn’t guarantee whether you’ll get any leads or see any growth for your business.
So how your competitors can produce accurate results with the same platforms? The simple answer is, Investing in paid promotional campaigns provided by these platforms.
How to use popular advertising platforms without breaking your bank?
The current market is full of competitors who are willing to spend almost 50% of their income for marketing purposes.
No doubt organic marketing methods are cost-effective, but they won’t produce many results for you in the long run. So paid advertising is the only way if you do wish to scale your business and take it to new heights of success while facing others.
You may not have enough investment, in the beginning, to keep your advertisement campaigns running for a longer period of time. It also depends on the advertisement platform you’re using to promote your business.
Despite the fact, you are willing to spend a decent amount of money on marketing it’s still possible that you may not achieve your goal. So it’s a risky game that you’re going to play!
Why do businesses trust popular platforms more for advertising?
Business owners tend to prefer popular social media platforms for marketing their services along with new products But why?
The sole reason behind choosing popular social media platforms for marketing is that Social media platforms can provide a steady amount of potential consumers whenever a quality campaign is made and run successfully!
Facebook, Instagram, YouTube, and Pinterest are the best examples of popular advertising platforms used by professionals to target a specific audience.
Because of that platforms made specifically for marketing purposes are getting a lot of attention recently. As they allow us to configure the campaigns according to our need, and choose what type of audience you wish to target based on their interests or even geographic locations.
Multiple features and accurate monitoring of the campaign progress on the same dashboard are also responsible for why businesses are choosing popular marketing platforms.
Cost-cutting walkthrough for your ad campaigns!
The overall costing of any campaign can be manipulated if you know the right methods for it.
In fact, you can even save a lot of money being wasted when you choose the automatic configurations while building a campaign from scratch. But for that, you should have information about the basic workings of any campaign manager that you have used earlier.
Let’s take a look at few methods that can help you reduce the cost while using popular platforms for advertising.
1. What is your goal?
Your goal should be crystal clear if you are looking forward to keeping your marketing budget under control. And the reason behind deciding your goal before anything else is, that you can proceed accordingly when you’ll have to create advertisement campaigns or write ad copies.
As you’ll need to provide the criteria regarding the type of audience you want to target via your marketing campaigns. So it becomes much easier to limit the campaign reach to your preferred audience when your goals are clear.
2. Improvise on ad placements
Ad placements are very important on specific marketing platforms like Facebook and Google ads.
Features and processes vary from platform to platform, so you need to adjust yourself according to them. For example, if you choose Facebook for marketing your products, You’ll need to provide additional details regarding the campaign you wish to run.
Details like the audience group you want to target, focus keywords, your budget for per action, your ad copy, media files for ad copy, etc.
The ad placements are one of them, which allows you to decide the positions where your ads will get shown.
If you wish your ads to be displayed in the newsfeed, recommendations, stories, and other places altogether then it can increase the overall costing for your campaign.
3. Narrow the target audience
While configuring your ad campaign preferences, it’s important to keep your target audience base as narrow as possible.
Targeting a wide group of people at once won’t be cost-effective for your marketing strategy at all. Because some platforms increase the cost per campaign when you wish to display the campaign to a much broad audience.
If you are already aware of what type of audience would be interested in your ad campaign. Then we suggest you keep the audience base selective according to your niche requirements.
The latest campaign configurations from Facebook even allow you to target only specific cities from a country.
4. Importance of market research
Running cost-effective campaigns can be much easier when you have done your homework. By homework, we mean you need to perform in-depth market research regarding your niche before starting any campaign.
It will help you figure out your competitor’s strategy, the methods they use to attract more organic traffic. And how to drive paid traffic that converts more while keeping the campaign costings low.
Performing market research will also help you decide what to promote and what your audience actually wants! These little things can make a huge difference when running campaigns on a large scale.
5. Deciding on a marketing strategy
Another important thing to keep in mind is to decide on a solid marketing strategy that can help you achieve your desired results within the budget.
Marketing strategies work as a guideline for everyone, it allows the marketing team to visualize the progress and perform the activities accordingly.
In terms of cost-cutting, a marketing strategy can save you from any extra expenses, that you have to pay when starting a campaign from scratch,
As this time you’ll be following a proper strategy that you have tested before, you can avoid any extra expenses for getting your campaign up and running.
6. Constant monitoring and updating the campaigns
Constant monitoring and updating your campaigns according to the latest market needs is essential to keep track of your marketing expenses. Yet, many people often overlook it and don’t keep their marketing campaigns up to date.
Monitoring the performance of your ad campaigns allows you to decide for future updates in the campaign or ad format that you’re using currently.
It will also help you compare the performance between two different campaigns to see which ad format is working better compared to the other one! Allowing you to continue your advertisement campaigns without breaking your bank.
7. Avoid making mistakes
It may sound like obvious advice, but it really makes a lot of difference when you’re competing with big companies.
The companies who have a dedicated budget for promoting their product/services with the help of marketing always try their best to not make any mistakes.
Mistakes in the sense of grammatical and other common mistakes that may be responsible for the failure of your ad campaigns.
People tend to notice such mistakes more quickly compared to logical ones. Which can result in trust issues and a lower engagement rate with your potential customers.
8. Try influencer marketing
If you’re short on budget at the moment, we would highly recommend you go for influencer marketing. And if you’re not fully aware of how influencer marketing works then don’t worry.
We have created a definitive guide to help you find the best influencer for promoting your brand and business.
Influencer marketing can reduce your marketing cost to almost 50% if you’re able to find the perfect influencer for your business.
No doubt the target audience will be less compared to normal campaigns, but still, you can get enough value out of influencer marketing.
You just need to choose an influencer who won’t charge you much and has a lower following.
Companies and businesses that have been in the market for not too long spend almost 20% of their budget for marketing purposes.
However, it depends on person to person, but if you really wish to use popular advertisement platforms without breaking your bank then it’s not impossible.
Simply follow the methods we have shared with you, and try to focus on one platform at a time. So you can easily measure the progress and update your strategy + budget accordingly.
If you found any useful information in this article then don’t forget to share it with others and mention any suggestions or queries you have in the comments section below.