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Budgeting Brilliance: Examples of Effective Marketing Budgets

effective marketing
Source-pixabay

Image Credits: https://pixabay.com/illustrations/internet-social-media-network-blog-4463031/

Introduction

In the first quarter of each financial year, the finance department allocates a specific budget to each of its departments to perform the departmental activities without facing any monetary challenges. While the motto of the majority company is to minimize cost and maximize profit, it’s the responsibility of each department to conform to the company policy. The role of an effective marketing team is to achieve its targets for the year and gain traction from the customer base, achieving all this within a limited budget. In today’s blog, we are going to discuss effective marketing strategies that are cost-friendly and will also serve the purpose for which it is intended.

Budget-friendly marketing strategies

While several sales and marketing strategies can increase the demand for the desired product or service in the market, the marketing team must carefully analyze each strategy determine whether it’s a true fit, and accordingly select the best alternative. Some budget-friendly marketing strategies are discussed below:

  1. Social Media Engagement: 

Image Credits: https://images.app.goo.gl/wSSa6g2pVtp8iR5HA

The 21st century is all about digital presence and social media. Successfully handling and engaging with the online audience while giving the brand a massive reach in a limited time frame. It’s the cheapest and most economical way of increasing brand visibility.

  1. Use Hashtags # : 

Another free marketing tactic that can broaden a brand’s reach is to incorporate hashtags into social media posts—on Instagram, Twitter, and TikTok but also for Facebook and LinkedIn. Broad or trending hashtags can help you reinforce your brand identity, but they should not be the only hashtags you use. Location-based hashtags are a must if it is a local business

  1. Active LinkedIn Use: 

LinkedIn is not only for performing professional connections but also for introducing the brand in front of potential clients, investors, and stakeholders who can be a valuable asset to the company in the long run.

How to use LinkedIn to reach your brand’s presence?

  1. Develop e-mail Marketing Plan: 

Email marketing is a great way to get new visitors engaged with your business, as well as maintain relationships with your existing customers. And though email marketing isn’t new, it’s still one of—if not the—most reliable ways to achieve a strong return on your marketing investment.

  1. Create infographics: 

Image Credits: https://images.app.goo.gl/RvzGADgxBGLpiaEh7

Infographics with crisp data will attract the attention of the customer in the fastest way possible. Designing effective infographics using free software like Canva, and MS PowerPoint is highly suggested. 

How to create infographics using Canva?

  1. Guerilla Marketing: 

Guerilla Marketing is a very interesting way of promoting the products of a company without actual promotion. Though it may include some amount of costs, it can bring wonders if works well!

  1. Publish great content: 

Good content is one of the integral components of a brand’s success. Bad word of mouth and fraudulent information can damage the brand’s reputation to massive levels.

  1. Start a Blog: 

A blog can be the one-stop source of information for all the activities related to the brand. The interested customers can easily get updates on the recent initiatives undertaken by the brand and can accordingly interact with the same.

How to set up a corporate blog?

  1. Post videos and reels: 

Short Videos and reels can attract customers within a fraction of the time. Recent studies reveal that audiences these days have a very short attention span, hence it has become necessary to successfully portray the brand’s information within a limited duration of time. 

How to Make Instagram Reels for Business in 5 Easy Steps

  1. Turn employees into brand ambassadors: 

Employees of the organization know the product in the best possible manner. So why not turn them into its own brand ambassadors and give the best authentic feedback to the customer segment.

Now we are going to discuss about few effective marketing strategies adopted by the premiere brands that were budget-friendly and turned out to be equally successful.

  1. BBlunt- Email Marketing

Image Credits: https://images.app.goo.gl/KZJhq6jdsgAFr44h9

BBlunt is a trending salon/ fashion brand, offering professional haircuts and high-quality fashion products. Started in 1994, the brand started as a fashion salon. With the rise of success and fame, it entered the world of beauty products, especially focusing on hair products. They have created a brilliant sample digital marketing plan for FMCG cosmetic products.

Email Marketing

Whenever a customer comes to the BBlunt website and subscribes, they are sent automated emails. These emails are “triggered” or sent whenever a customer does any particular action and on particular times or days.

These emails are designed to prompt people to partake in BBlunt’s services first. They are time-triggered and start going routinely after someone subscribes. If a customer makes an appointment, the emails shown are different and if they don’t choose to make an appointment, the emails will be different.

As time goes on, customers tend to forget brands. To solve that, one can send retaining offer emails or retarget them.

  1. Real Fruit Juice- ORM and Paid Marketing: 

Image Credits: https://images.app.goo.gl/XxNGhGLET1EBJwhq9

Real Fruit Juice is one of India’s most trusted and oldest FMCG brands and a household name. Launched in 1997, fruit juice is one of the most recognized brands in India. Serving millions, the juice is now sold to customers through the medium of eCommerce and websites. 

Online Reputation Management (ORM)

The most engaged and interested customers leave comments on websites such as Amazon And Grofers on products they bought earlier. According to surveys, 78% of consumers trust reviews as much as personal recommendations. This makes ORM very crucial, especially for physical products. To every good review and bad review, a reply and engagement is a must.

Paid Posts

All platforms collect customer data and their interests. A company can make more targeted and differentiated ads for each customer of different interests and appeal to them personally. Paid posts are a great way to acquire new and high-quality customer leads for your brand. 

Reference:

  1. https://iide.co/case-studies/fmcg-digital-marketing-strategy/
  2. https://www.wordstream.com/blog/ws/2020/12/09/free-and-low-budget-marketing-ideas