How to rock a small budget like a Fortune 500 powerhouse
Small budget + small team = limited marketing options, right? Notsomuch.
You can (and will) make the most of your small budget with a little advice that’s actionable and doable.
Are big marketing budgets all that different anyway?
When I worked for Monster, the global marketing budget was around $250 million per year. So, in an environment like that, you find yourself spending your budget in increments of $50 or $100K. But I have also worked with several organization with budgets around $1 million. And in those instances, we were allocating budgets in $5 or $10K increments.
But I found that while the size of the increments is different, the decision-making process is kind of the same.
How do you make the most out of what you have?
In a smaller environment, you need to watch your marketing investments closely.
Here are some proven tips to help you do more with less…
- Amplification through a multi-channel strategy – Promote the same message or asset across all of your channels. Make sure it’s consistent on your site, in your retargeting efforts, used across social, and anywhere else a customer or prospect may find it.
- Throw one apple at a time – Think of it this way: if I threw an entire bushel of apples at you at one time, you would probably have a hard time catching any of them. But, if I toss you one apple at a time, you could probably catch every one. It’s the same idea when you send one message out to the market at a time.
- Repetition is the mother of all learning – The more a prospect sees your message on different platforms, the more likely he or she will be to click on it or absorb it.
- Find a theme that tells a story – If your assets are similar, you’re building on the same theme and telling a story across channels and content offers. You make it easier for prospects to follow since they’re not adapting to new creative every time.
- Do something different – Marketers with small budgets need to try to break through the noise in their markets. If your competitors are all using white papers, go a different route. Think of how to cut through the clutter with something that’s different and worthy of their time.
- Hit the replay button on your content – Reusing and repurposing content is a must for small teams and small budgets.
- Do a quick content audit – Run a quick audit to see what you have and then create a content inventory. You’ll formulate your reuse plan once you see a complete listing in one place. You probably have more than you think.
- Consider a facelift – Some of your content may be evergreen and would benefit from a simple redesign. A new look and feel could be just what your eBook needs to appeal to another audience.
- Breathe new life into it – Have a customer testimonial video? Lucky you, you can rework that into a powerful case study. Look for ways to reuse the great content you have in house.
- Look outside too – Find a study online that relates to your industry and polish it up. Highlight the most interesting parts of the study, add images, crank out some charts, and make your own thoughts and predictions based on the data.
- Empower your team – Understand your team’s workload and help them focus on your company’s top priorities.
- Make sure you know what your team is working on and determine if there’s a way to help them streamline their activities. Are they working on high-value activities that generate revenue? As a marketing leader, I made sure I had meetings with my direct reports and quarterly meetings with any level-down staff members. Several times, I uncovered efforts that were taking up a lot of time but not leading to impact for the business. These meetings helped my team focus on the activities that really mattered.
- Remember that unifying your messaging around a core campaign can help alleviate stress from your team as well. They won’t feel that they’re being pulled a million different ways with tons of tactical activities. A big, integrated campaign motivates your team to work towards a goal they feel will have impact.
Don’t let a small budget (or an even smaller team) hold you back! You have what it takes to rock your budget with your small team by your side.
Anything else you would add? What other ways do you make the most out of your small budget? I would love to hear from you.
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