3 High ROI Marketing Strategies For Small Businesses

Everyone wants a high return on investment (ROI) for their marketing efforts, but small businesses generally have tighter budgets and need to choose their marketing carefully. There are three areas of marketing that are more likely to pay off for small businesses.

Email

Email marketing has one of the highest ROI rates because it is essentially free. If you want more sophisticated email marketing, it will be worth the investment to use software that helps you create and manage email lists. Aim for weekly emails, such as a newsletter, which you can use to give updates about your company to subscribers. Ideally, you will include a small promotion in the email. The principle of exclusivity can attract and retain people on your email list. Many small businesses offer special promotions to people subscribed to their newsletter or they may be the first to find out about new products. Emailing subscribers more often than weekly may push people to unsubscribe.

Mobile Ads

Internet ads can be challenging, especially since the invention of ad-block software. Many ads that would normally be viewed via desktop/laptop are not seen because of ad-blocking software. Although it seems like internet ads would be a waste of money, the ROI comes from ads viewed on mobile devices. People often do not have ad-block software on their mobile devices, so their exposure to ads is higher.

Depending on your niche, you may find partnerships that allow your ad to be seen by more people. For example, some free games that allow people to win money or gift cards require the player to view ads as part of the game. This creates more exposure for the advertised company, while the game developer receives a small amount of money in ad revenue. Advertising on social media platforms is another popular option. You do not need to formulate a specific ad campaign, but having your business page displayed as a sponsored post may be enough to increase your exposure.

TV Ads

Small businesses, especially those that rely on local customers, are missing out on a sizable ROI if they are not invested in either traditional TV advertising or ads on streaming services. There is no better way to target people in the local area than to make your business known on TV. You may need to understand your demographic to determine which platform is best for your business and when you should display ads. For example, you may find young professionals who are in the market for a new car are more likely to use streaming services. As a car dealership, it would be best to advertise on streaming services and probably at night or on weekends when these people are likely binge-watching their favorite shows.

Having a smaller budget does not mean your advertising cannot make a sizable impact. Learning where to invest your advertising budget will make your efforts worthwhile. Contact an ROI advisor to learn more.