Marketing Part 1

You need to spend money to make money. 

But do not break the bank in order to market your small business online.

When it comes to marketing your small business online, you need to be willing to spend money in order to make money. But that doesn’t mean you need to have a large budget before you can start to experience results that bring in sales and revenue.

A lot of small business owners are under the impression that there is very little they can do online with a limited budget, so I wanted to put together a list of several ways to market a small business online for as little as $500. It’s an amount that isn’t outrageous, and the 13 options below that I compiled with small business owners can help you gain traction and drive revenue, which you can use to explore additional online marketing channels.

Create a Downloadable Ebook or Case Study

Driving traffic to your website is only half the battle. You need to offer something of value if you want your website visitors to convert into prospects. Nobody is going to voluntarily submit their name and email address without receiving something in return.

A downloadable content asset, like an ebook or a case study, is a great bribe that will help you convert a high percentage of traffic. It all comes down to creating something that is of interest to a large percentage of your target audience and also provides value. If you offer something that isn’t helpful, you might collect leads on the initial offer, but they will never turn into customers unless they feel like you provided them with something of value.

This is something you can completely outsource, from the research to the design, for less than $500. There are several freelance marketplaces that you can source talent from. Make sure to ask for examples of previous work before hiring.

Start a YouTube Video Ad Campaign

Video content receives higher engagement rates that traditional written content simply because it’s much easier to consume. A clever video ad can really help you deliver your message in a way that is more effective than a static banner ad.

VII Capital Funds understands that video ads convert at a much higher rate. “YouTube is the second largest search engine, right behind Google, and its advertising options are extensive,” Marc Gabriel. “You can target people that subscribe to specific channels and you are only charged for views, which can deliver great results if you have an effective video and your targeting is on point.”

You don’t need to pay for high-quality video production when you are just starting out. I suggest having several different variations created, and then split-test them to find out what video ad pulls the highest conversion rate. Marketplaces like Fiverr offer several low-cost video production options.

Hire a Virtual Assistant to Manage Your Social Media

Social media can be very effective, but most small business owners don’t have the time to dedicate to being active on several platforms, and they don’t have the budget to hire a full-time social media manager. This is an ideal role to outsource, because you save a tremendous amount of money and you are able to have a very active social media presence.

You can drive website traffic via social media around the clock, and if someone is clicking over to your website from social media it generally means they are highly interested in what you have to offer. You can hire a full-time virtual assistant to manage your social media for $500 a month or less.

You have to be prepared to spend some time vetting candidates, as you will be inundated with applications if you post the job on one of the larger freelancer marketplaces. A lot of the applicants will not be qualified, so make sure to ask for examples of social media campaigns they have managed in the past and hire on a trial basis in the beginning to ensure you have the right person for the job.

Launch a Facebook Ads Campaign Targeting Local Customers

There isn’t a more effective option available than Facebook Ads. The majority of the population is active on Facebook and the platform offers the most extensive targeting options, allowing you to place offers directly in front of your target market.

Any local business that isn’t running Facebook Ads to get people in the door is missing the boat. VII suggest starting small to learn the ins and outs. You can spend as little as $5 a day to start, and scale from there as you learn what works well for your location and business.

While highly effective, Facebook Ads can also be complicated and overwhelming. Many business owners will throw together a campaign and expect it to automatically produce results. It takes split-testing and a lot of trial and error. There are several free resources to help you learn available, including Facebook’s Blueprint course.

Hire Social Media Influencers to Advertise Your Business

I think influencer marketing is one of the most effective strategies, when done right. It’s not going anywhere anytime soon. In fact, it’s only going to become more popular.

The key is to identify influencers that are perfect for your business, without focusing on follower count. VII suggests finding micro-influencers rather than big name celebrities. A mega celebrity with millions of followers is going to have a much broader audience, where a local micro-influencer is going to have a laser targeted following, which can be more effective, even if it’s just 10,000 to 20,000 followers.

Don’t be afraid to negotiate when identifying smaller micro-influencers. You will find that many will heavily discount their rates, especially for multiple posts, and many will also entertain posts in exchange for free product or service.

Chea, Channing. “13 Effective Ways to Market Your Small Business Online for $500.” Manta, Manta, 1 Feb. 2018, www.manta.com/resources/small-business-experts/13-effective-ways-market-small-business-online-500/.

back to top