Episode 22Marketing on a Budget
Having a good idea is only half the battle of building a brand. New businesses have to rise to the challenge of discovering how to utilise a low budget on the right marketing strategies. Tonight, our host Peter Applebaum and the expert panel will explore the most effective strategies of marketing on a budget.
Samantha Khater and her two siblings are the founders of Dessert Boxes, delivering thousands of gift boxes filled with donuts, sweets all things delicious, all around Australia. Dessert Boxes sells its products primarily in Sydney and Melbourne but also delivers interstate. One key to their success is the bold, cheeky and edgy tone they use to present themselves to the market. Their unique marketing approach and the journey they took to grow their business from the ground up is perfectly suited to tonight’s topic of ‘marketing on a budget’.
Case Study Key Takeouts
- As a new business, you need to innovate and disrupt your industry. Stand out from your competitors by creating your own positioning in the market.
- Every business with limited funds should utilise the strengths which come along with social media. It comes at a cheap cost and you are reaching mass awareness.
- Using social media influencers could really broaden the reach your business is achieving. For example, you can offer an influencer your products free of charge in exchange, they will post them on their social media channels and expose your brand to their thousands of followers.
Social Media Queen
CEO and Co-Founder
Panel Key Takeouts
- Community building is important for growing your business and creating really valuable PR content.
- Test and measure is essential for the success of your campaigns. Take the learnings from the previous campaign and adjust the next one to suit the strengths and weaknesses you have seen.
- Know your target audience so well that you can allocate your marketing budget the most effectively. Not everyone’s audience is online so if you are targeting offline audiences, put your budgeting there.
Caller Key Takeouts
“What are the best cost effective tactics for attracting B2B clients and what would you consider the most cost effective strategies to reengage with past B2B clients?” – David Packenas
- B2B is extremely focussed on building and sustaining the relationship. For example, face to face meetings and updates about the business to partners and potential partners.
- Networking events and LinkedIn is a great way to maintain direct relationships with the owners of different businesses.
Crystal Clear Data
“What is the most cost effective way to get the most return?” – Peter Bui
- Review your business model and database and find ways in which you can bring back past customers to your business.
- Social media is low cost and help you to achieve mass awareness.
- Utilise platforms which have a community who are already looking for your products. For example, Facebook groups, community websites etc.
PB Web Development
Marketing Tech Key Takeouts
How to get the best return on your digital investment.
- Email is 40 x more effective than Facebook and Twitter
- There are many online platforms you can use for your email campaigns e.g. Mailchimp, Constant Contact, Aweber or Active Campaign.
- Focus on your email list and what you can offer them
- The better the subject line the more chance there is that your email will be opened
- Your offer needs to be appealing enough for your audience to speak to their wants and needs – don’t focus on YOU, focus on THEM!