Ask These 3 Questions to Determine Where to Spend Your Marketing Dollars

When it comes to marketing, there are a number of cost-effective ways to spend and save your money. If you’re worried about marketing on a limited budget, here’s some helpful info to know.

Plus, digital creates multiple opportunities to engage. Think of it this way: Ten percent of your audience will buy, 10 percent won’t and 80 percent will be on the fence. By retargeting through something like Facebook ads or Google, or even creating a distribution channel like an email list, you can communicate repeatedly.

What’s the best way to spend on marketing? Tom, here’s a spoiler: I’m not going to make a blind recommendation for Facebook, Instagram, YouTube or influencer marketing. You want marketing that targets an audience so you’re in control and can make adjustments as technology changes.

Whatever you do– and no matter how big or small your budget– keep finding better answers to the core marketing questions and your success won’t hinge on any one platform.

Q: We’re a startup with limited cash, but we want to accelerate growth quickly. What’s the best way to spend on marketing?– Tom R., Akron

As you grow your business, it’s important to be efficient and creative with your money. There are a number of cost-effective ways to spend and save your money when it comes to marketing. If you’re worried about marketing on a limited budget, here’s some helpful info to know.

That’s where you’ll want to invest most of your attention before you determine where to spend your money. (Notice my word choice: Your planning is an investment; where you spend is a cost.).

If you already have an audience, turn them into superfans who will bring their peers into your universe. Reward them for their time with product or a gift certificate.

Tom, here’s a spoiler: I’m not going to make a blind recommendation for Facebook, Instagram, YouTube or influencer marketing. Any strategy at the mercy of an algorithm isn’t stable. You want marketing that targets an audience so you’re in control and can make adjustments as technology changes.

If you don’t have an audience, spend money fishing in small ponds where you know you can get a bite, and then set yourself up to communicate repeatedly. (This is where creating content as a form of acquisition or building an email list can be incredibly valuable.) Depending on your product or service, this could mean a very targeted ad to a small audience on Facebook– rather than attempting to reach millions– or setting up a pop-up shop, or getting a spot at a local farmers’ market.

Great marketing is about highlighting needs and wants and attaching them to desired outcomes. When we worked with Arnold Schwarzenegger on his fitness and nutrition products, we focused on creating a core mission and understanding why he was involved in the product.

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