After decades of stagnation, U.S. consumer price inflation has reached its highest level in decades, prompting concern among small companies across the country. Prices are increasing across the board, from office supplies to travel and everything in between. And, as a result, small firms have less financial resources to invest in improving their digital footprint.
Fortunately, even in the face of increased expenditures across the board, there are still options for business owners to expand their internet presence without going broke. In 2022, a small marketing and advertising expenditure can go a long way thanks to innovative marketing and advertising methods. Of course, every small business has its own set of conditions, both in terms of its digital footprint and in terms of its financial situation. Despite this, there are ways for any organization to take a step in the right direction.
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1. Hire contractors, not employees
The freelancing economy exists and will continue to exist indefinitely. According to the Upwork’s Freelance Forward Economist Report, “…freelancers generated $1.3 trillion to the United States economy in annual wages [in 2021], an increase of $100 million from the previous year.” This should be music to the ears of any small business owner operating on a tight budget. It is possible to save money in a variety of ways when you hire contractors rather than workers. You have access to talent all over the world (not just in your immediate vicinity), which makes it easier to find reasonably priced talent. Furthermore, when you use contractors, you save money on overhead because you don’t have to pay for things like benefits, retirement contributions, office space, and office supplies, to mention a few examples.
Additionally, with freelancers, you have the option of hiring them on a short- or long-term basis. For example, if you just require the services of a web designer or copywriter for a few months, you can hire a freelancer on a project-by-project basis. When you don’t have a constant and ongoing requirement for a specific task, it’s more cost effective to outsource it to a third party.
2. Focus on organic growth
Even though the term “organic growth” does not necessarily imply that it is costless, when done effectively, it can be more economical than traditional marketing and advertising tactics. Consider the case of search engine optimization (SEO) (SEO). You will receive visitors as long as your website remains at the top of the first page of search results for a highly searched and targeted phrase. This is in contrast to pay-per-click advertising, in which you are charged every time someone clicks through to your website, which is a more expensive option.
The truth is that getting to the top of page one requires time, money, and expertise; yet, once you get there, the traffic is completely free of charge. If you’re ready to go down this road, keep the following in mind before making your decision: Engage the services of an experienced, skilled, and well-respected SEO consultant to oversee your organic growth.
3. Network, network and network some more
Due in large part to an increase in the number of people working from home, networking with other professionals has become less of a priority than it once was. Additionally, the expansion of online networking (headed by LinkedIn) has resulted in a significant increase in the number of people devoting their time and effort to the digital world. But this isn’t necessarily a bad thing; it’s simply a departure from the way things were a decade or more ago.
There are a plethora of methods that online networking can assist you in improving your company’s digital presence, so get creative! Take into consideration the following:
Develop relationships with possible partners, customers, and suppliers.
- Identify and recruit elite talent.
- Discover marketing and advertising opportunities that are both affordable and/or free.
4. Guest post on industry-specific blogs
Guest blogging is one of the most effective strategies to increase the visibility of your company’s digital footprint without spending any money. It involves publishing articles on industry-leading websites and blogs in order to draw attention to your brand and establish yourself as a thought leader.
It is essential to create high-quality content, put it on the appropriate platforms, and take an original perspective that engages an audience if you want to be successful in this endeavor. It is not sufficient to simply share generic content: it must be interesting and thought provoking in order to be effective. If it strikes a chord with the audience, you will reap the benefits in the form of more traffic, increased email subscribers, and increased sales. With 76% of editors planning to publish between one and ten guest pieces each week, there is a significant possibility to reach a large number of people using this method.
If that isn’t enough to get you thrilled, consider the fact that it is completely free to network on the internet.. All of the things listed above can be accomplished without spending a single money. Start with a couple of social media profiles and you’ll be well on your way.