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How Do I Market My Business On A Budget?

 

When funds are tight you need to make every penny count!

Here’s what is covered:

One of the best B2B platforms right now for marketing

Why you should consider upgrading your LinkedIn profile

The power behind YouTube and producing FREE content

Whether direct mail works in todays’ environment

The importance of accelerating the relationship of trust

Could podcasts be a way of getting in front of your clients

About this video

In times of uncertainly one of the first things companies withdraw is their marketing spend. Although it is understandable why, this is when you should increase marketing budgets to take advantage as others cut back.

Alex and Rupert bring you methods and tools you can use to not only keep costs to a minimum but most importantly maintaining a predictable stream of hot prospects to your business.

Transcript:

 

ALEX:                    

Hey everyone it’s Alex from Business Growth Bureau along with Rupert Honywood. What we’re actually gonna be doing now is a bit of a bonus session really in terms of how to market your business on a bit of a budget and the reason we’re tackling this is from our LinkedIn community and our webinar community we’re finding a lot of startup business their budget is actually quite low in terms of what you’d expect for marketing it’s actually around £2000 – £5000 per year budget. Now although, you can still do a lot with that money, we want to try and make every penny of that kind as far as it can so what we’re gonna be to talking about over the next few minutes is actually the top platforms and the top ways of marketing right now. Some quite conventional ruse ball and some you may not thought so. (0:42)

In terms of right now Rupert, what is the number 1 would you say for B2b marketing at the moment? (0:50)

 

RUPERT:

In terms of social media platforms, probably the most and the best one on the B2B space or Business to Business space is LinkedIn. (0:56)

  

ALEX:                    

What would be shortly after that? (0:57)

 

RUPERT:

Shortly after that is potentially Facebook and potentially Instagram depending what type of product or service you’ve got. (1:05)

 

ALEX:                    

It’d probably be a really good time to mention like as we all know that Facebook and Instagram are great if you’re a visual individual, if you’ve got visual products or like a clothing brand, a product in that kind of space but it’s still also can be quite free good services that we provide like in terms of you can put out inspirational stuff it’s also free, it’s organic and if you do it right and you use a lot of good Google tips on how to grow your Instagram feed and your Facebook feed and so on and so forth. It’s a lot of organic reach you can actually get through there. In terms of LinkedIn, Why is that so good? (1:38)

 

RUPERT:

Well, LinkedIn it’s very much seen as a professional community and they’re on about 700 million people worldwide on it and about 23 million in the UK and the engagement rates of LinkedIn are very high generally if you connect and engage with people in the right way. The other good thing is that even with the free version of LinkedIn you can still do quite a bit, you will start to hit serious limitations when you start getting quite active on it but even if you had to upgrade that probably is equivalent to £60 or about 75$ a month and you actually get some very powerful tools in the toolbox with that. (2:16)

 

 ALEX:                    

Just quickly while we’re on LinkedIn because obviously people in the B2B space might need to know that. Is there a limit on how much I can use it? (2:21)

 

RUPERT:

The free version you will start to get a notification from LinkedIn. Your account can be restricted til the beginning of the following month. You start getting very active it won’t be fully restricted but there will be restrictions (2:32)

  

ALEX:                   

Is there a number cap on that? (2:34)

 

RUPERT:

I don’t know what the number is and LinkedIn don’t necessarily publish it either. (2:37)

 

 ALEX:                    

Right! (2:38)

 

RUPERT:

But if you do use it to a fairly modest extent that may not be an issue for you and even if it is, if you upgrade for a month and you might be to get a 30 day free trial may be able to get around that one. But actually in real terms you probably need to ask yourself another question is if you genuinely can’t afford £60 a month or £100 a month or whatever it may be, whatever platform it is. It may be that your business model actually isn’t right or you’re just very very early start up because you should be to afford in investing in some basic forms of marketing because ultimately you’re gonna need to really drive things through and that’s the way you can drive things through. (3:17)

 

ALEX:                    

Obviously we spoke about it in another video and just to let you know. We do actually have an entire video devoted to kind of lead generation where we delve in deep in terms of actually what these specific areas look like. But things like the videos you’re watching right now. YouTube’s a powerful tool and it’s free, you can get massive distribution through that as well. What would be another good way that people might not think about in terms of marketing right now? (3:40)

 

RUPERT:

Well, there’s a very unsexy version of marketing especially if you’re in the small business space and that is Networking and joining a certain network organizations. Now you do get people out there saying it doesn’t work but actually the people who’s quite often say it doesn’t work are the ones who don’t know how to engage with people. Perhaps how to say they can’t convey their core proposition properly so the big benefit with networking is if you develop with a relationship of trust and do it right you can find, you can pick up some really nice clients through it. On the downside of it is not very scalable so it’s worth doing but as part of a balanced portfolio of marketing. (4:22)

 

ALEX:                    

What are the thoughts at the moment on things like direct mail through the post and email campaign especially as well? (4:29)

 

RUPERT:

Email campaigns obviously in Europe and the UK you’ve got things like GDPR which can be a bit of a pain which is a regulated framework but let’s say you’ve got an opted in list so we avoid going down that particular route. Email can work very well but it can be difficult to rise above a lot the noise because there is actually so much stuff being pushed out there all the time but you can get some pretty amazing results if you do things the right way, but it’s all about the time which you’re very passionate about sharing massive amounts of value and doing quite a bit of that for free and that it helps accelerate the relation of trust that people wants they made to transact with you.

Mail through the post is almost uncool it’s become cool again because so few people are doing it but also the cost per letter especially something includes the time in actually printing the letter up in an envelope and posting it and all the other stuff around it is high but for certain types of products or services it can work well. (5:30)

 

 ALEX:                    

You have to bear in mind things like Google pay-per-click obviously depend upon what industry you’re in. Pay-per-click it’s only a click on a website and that could sometimes be up to £50- £60 per click in some of our clients industry. A letter through the post handwritten maybe take you ten minutes or type out on a computer might take you 10 to 15 minutes, sending it is not going to cost you any more than 5 pounds. Sometimes direct mail for the post to specific clients with a key message in it might actually not be a bad way of doing it. (5:58)

 

RUPERT:

Yeah! Quite and especially again if we’re offering a fairly high product or high value product or service and what you have to offer is fairly unique and of course a halfway house between letters you might be to use some form of leaflet drops as well through people’s doors but for a lot of business that’s not suitable. (6:16)

 

 ALEX:                    

Yeah! And of course it’s something I think would be worth just going back to you very quickly. I’m a massive advocate of voice video so on and so forth and you’ll obviously understand that if you followed us so far on the video series or if you’re on our podcast community but voice and video, I think are a massive part in the future.

Time as you know is an incredibly important asset, it the only commodity we can’t make more of. So what you should really be thinking about how do is obviously, how do I get in from of my clients? How do I get in front of the ideal people but don’t think about that in a physical sense how can you get in front of them in terms of the audio that they consumed by you or the visual that they consumed by you as well. So think about posts, think about posters, think about content on

YouTube, on Instagram so on and so forth.

 These platforms especially the next 5 years, I think is going to be very very crucial in terms of where we’re going and hopefully our podcast community agree that that’s an extremely important area -voice is, because you can do that on the go. Video, you really can’t watch while you’re driving but you can listen to podcasts audible proofs there. These kind of methods of voice while you’re driving especially if its good content it voices an incredibly important part of the future. (7:29)

 

RUPERT:

Yeah! I think it’s very interesting as well to look at the people who are around you. For example, we’ve got a very good relationship with someone who specializes in customer services and the amount of value that she can share with other people is phenomenal. So the video doesn’t have to be if you want to put stuff on YouTube for example, doesn’t have to or have podcasts that matter it doesn’t have to be all about you. It could be about bringing other people around you which complement what you have to offer. (7:58)

 

ALEX:                    

It would probably be a good time to mention it not this week because he’s away but next week and the week after. We’ve actually got two kind of special guests coming in where they talk about things like strategic narratives and stuff like that. Now although we don’t personally do that, that’s one of our clients who provides that service. He’s just going to be providing pure value around that so although you might not specifically talk about that subject that you do you can plug people in around you not only to show that you’re the expert in the that field but you can potentially open up those doors for other people. What else in terms of marketing can we do on a bit of a budget? (8:27)

 

RUPERT:

Yeah! Good thing is you can actually experiment with a number of different mediums as it were. For example, again we talked about Instagram already. Twitter is also an interesting one, in fact we’re having this debate just a moment ago. Twitter is almost seen I wouldn’t say it’s being uncool at the moment but actually if you’ve got a lot of very valuable content to share, you can create an interesting article put that out there on some form of posting platform, use a link and obviously drive people through to those articles which again is well presenting you as an expert in your particular space. So some of the ones which were massive a year ago are still massive now but perhaps not quite as trendy as they were still can give you a very good voice. (9:13)

 

 ALEX:                    

Cool! I think that we’re probably kind of finish it off there because we’ve got an entire bit on terms on marketing already as I said we’ve got a serious long summary over on our website, on YouTube channel that you can actually view our lead generation side of things where we talk in depth about different platforms, how to really use them quite well. We’ve also got a bit about prospect nurturing as well. As we always say thank you so much for joining us today, I’m Alex Smith and this is Rupert Honywood. Thanks a lot! (9:36)

 

Rupert:

Cheers! (9:37)