What are the Average Marketing Costs for a Small Business?

Small businesses are the foundation of any market; they’re what people depend on to find the best kinds of businesses available. Small businesses are made up of people who dared to dream that they could make a difference in the world. They’re filled with people who believe they have what it takes to succeed.

Yet, they also face unique challenges. As markets get increasingly crowded and larger companies nudge small businesses out, things can seem hopeless. The marketing costs behind these larger companies’ success can dwarf a small business’s entire revenue.

That doesn’t mean there isn’t any hope for small businesses, though! In fact, small businesses are in a unique position to reclaim their markets and bring customers back into their doors. All it takes is a little clever marketing to reignite the spirit that caused entrepreneurs to start their companies in the first place.

And it doesn’t even need to cost that much, either! To learn about how much it may cost to market your small business, and what it can do for you, keep reading below!

Your Marketing Costs Cover Many Different Things

The first thing to realize about marketing is that it’s an umbrella term for several different things. Your marketing budget will cover your PPC and advertising costs, it may cover an SEO strategy and a rebranding campaign, and that’s just the start. There’s a reason most companies have whole marketing teams — a lot goes into good marketing!

That doesn’t mean you can’t afford a marketing campaign for your company, though. It just means that you need to be smart with where you put your money. It means that it’s extra important for you to make smart decisions, so you don’t lose money on marketing costs.

And to learn more about the different aspects of marketing that you can invest in, just keep reading below!

Can You Afford to Not Have Advertising?

Advertising is fundamental to marketing; it’s what people think about when they think about marketing. Advertising is unique in that it’s the most direct form of marketing. Instead of trying to build a brand or sway public opinions, it sends a simple message to audiences: your company is here for them.

Advertising can also be used as a platform top practice other marketing tactics, though. In fact, that’s what it’s used for the most, now. Every mascot placed in an advertisement and every print ad’s design is meant to achieve something else along with its main goal of attracting attention.

With a good advertising campaign, you can create a brand for your company. You can distinguish yourself from your competition, which will attract customers.

Since advertising is more like a platform than an actual marketing strategy, it costs more. It can cost up to $10,000 per month to advertise your business. By targeting local audiences you will drive that price down, though.

Marketing Evolved Beyond Commercials and Print Fliers

Modern marketing isn’t as focused on attracting attention as it once was. Instead, most modern marketing focused on shaping people’s attitudes towards companies. It’s about positioning companies in advantageous spots throughout their market.

To do that, there are a few significant strategies marketers will use. They may develop an SEO strategy, which will raise the company’s presence on search engines. Whenever someone looks for something related to the company, they will find it and that makes the company seem like a market leader to the customer.

Marketers may also use content marketing strategies to boost a company’s image. Content marketing mostly centers around hosting written or video content on a company’s website so that people can view it before they make a purchase. This content influences people’s decisions and convinces them to purchase from a company.

It also develops a company’s brand, which is fundamental to successful marketing. Without a good brand, you simply can’t compete in any market — no matter how good of a company you are. Advanced marketing techniques are always worth the investment, and it can even be cheaper than advertising!

Social Media Is Almost Free for Companies

The advantage small businesses have over larger companies the very fact that they are small businesses. For most consumers, large companies appear like hulking monstrosities they only work with out of necessity. Small businesses appear more human, and therefore more approachable on a personal level.

Social media is the perfect avenue to take advantage of that. It’s fundamentally about connecting with audiences and engaging them as if you were with them in-person. By engaging your audience on social media, you will look more approachable and more people will choose to work with you, instead of your competition.

And the best part about social media marketing is that social media is free! It costs nothing to set up an account on Facebook, Twitter, or Instagram. However, you will want to hire an expert to handle your social media presence; otherwise, your social media posts can backfire.

Outsourced Marketing Can Save Costs

Not all small businesses can afford to handle their marketing alone. Marketing isn’t about the immediate payoff and profit that most businesses are used to. Successful marketing requires thinking about long-term strategies. 

Not all companies can wait for their marketing to pay off. Luckily, there are companies who cater to these companies and handle their marketing for them. For example, this marketing company will work to attract attention and customers to your company in the long term.

That way, you can focus on the present and work on making the most out of your company. All it takes is a consultation and a contract before people start flocking into your doors! 

Good Marketing Means Better Profits

The best way to succeed in any modern market is to invest in your company’s marketing. No matter the marketing costs, it’s always worth it to invest in some aspect of your brand or your digital presence. Without those things, your company may never get the attention it needs to succeed.

And the best way to learn how to market yourself successfully is to keep reading our website here. Our website has all the materials you’ll need to put together your next great campaign. And if you ever need advice on how to market yourself, our forum of fellow business owners will be here to help you out!

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