How to hit marketing goals with limited time and budget

Whatever business you’re in, you should know the importance of good marketing. Well, you should if you’ve got any sense about you.

It’s a chicken and egg scenario. What comes first? The marketing strategy that helps you bring in more revenue? Or the revenue that helps you afford the marketing?

The truth is, marketing success is attainable whether you’re a company with a budget of £100 or a multinational behemoth with a budget of £10m. You just have to realistically evaluate what success looks like for your size and budget.

Although the overall goals of both companies in this scenario are the same – namely to make more money and sustain a viable business – they should be working to achieve different things with their budgets and/or time allocations.

In this short blog, we’re going to look at what you can do to prioritise your marketing when you’re working with a limited budget. While you won’t be seeing the same results a 7 figure sum could bring, being shrewd with your resources can set you on the track to growth and a brighter future.

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Step 1: Determine your marketing goals.

Are you looking to grow your online presence? Do you need to reach a specific client or stakeholder? Or maybe you want to run a PR campaign to get national news coverage? Once you know your goals, you can determine the best methods to achieve them. For example, if you’re a town planner looking to reach a specific stakeholder, you might focus on targeted email campaigns or social media ads.

Step 2: Look at your budget and be realistic.

Let’s be real, you can’t run a national PR campaign on a budget of £100. So, be realistic about what you can achieve with the money you have available. Think about the best result for the money you’re willing to spend and pursue that. For example, if you’re a developer, you might focus on creating high-quality content for your website and social media channels rather than spending money on expensive advertising.

Step 3: Measure success.

Don’t waste money on marketing activities that are nebulous or unmeasurable. It’s our mantra: if you can’t measure it, don’t do it.

Choose methods that will have tangible results and allow you to pivot when things aren’t working or double down when they are. For example, if you’re an architect trying to increase your online presence, you might track website traffic and social media engagement to determine what’s working and what’s not.

Step 4: Be patient, be realistic about your goals and don’t expect everything all at once.

Marketing is a marathon, not a race. Focus on the things that can have the biggest impact relative to the time commitment and budget you have available. For example, if you’re a new business with limited time and budget, you might prioritize networking events and industry conferences to build relationships and get your name out there. The basics of marketing needn’t cost an arm and leg.

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Remember, marketing is an ongoing process. Don’t be afraid to try new things and adjust your strategy as you go. If you want help making your marketing budget work for you, contact Luma Marketing today. Our team of experts can help you reach your goals and get the results you’re looking for.