Are you feeling the pinch when it comes to your marketing budget? You’re not alone! With the current economic climate, it’s understandable that businesses are looking to cut costs wherever they can. Marketing is often the first to get cut in the wave of uncertainty, however, cutting your marketing spend isn’t always the best option. Doing this can lead to major problems down the line.
Here’s what can you do instead:
Review and clean up your advertising
Take a step back and look at it all, are you getting the best bang for your buck? Whether it be $500 a day or $30 a day, sometimes, brands get caught up in the idea of spending a certain amount each day, but are those dollars actually getting you the results you need? Perhaps you can cut back on certain areas that aren’t as effective, or redistribute your budget to boost a more profitable area.
This is always a good idea, regardless of the economic climate, but especially good to do when things start to get tight.
Review your apps and subscriptions
In a recent podcast episode with Anna from House of Cart (insert a link to the episode), we talked about brands getting “happy happy” – basically downloading and installing too many apps when things could be hard-coded instead. Now’s a good time to review your apps, see if you can cut back and make sure you’re only paying for what you actually use. This process also goes for subscriptions.
Set a reminder to regularly review all subscriptions, these tend to add up really quickly without you realising. Doing this exercise could be a great way to free up cash flow and boost your bottom line.
Consider using influencers
While it’s still a marketing expense, you get exposure, content and marketing material all in one go, from people who usually know exactly what they’re doing.
We’ve seen such great results for clients who engage influencers and then utilise that content in their ads.
Make sure your website is spot-on
A slight increase in on-site conversion rate can make a huge difference to your sales and bottom line.
Here are a few tips to get your website in tip-top shape:
- Make sure the site is running fast enough
- Your call to actions need to be crystal clear
- Check your accessibility; how easy is it to navigate and find the products?
Boost your average order value (AVO)
This goes hand in hand with optimising your website. A small change, like offering a lucky dip option at checkout, can make a big difference. One of our clients tried this and saw a $15 boost in AOV, which made a huge difference in their sales.
If you have a product people love and the passion to make it work, you can succeed. Don’t let the doom and gloom get you down.
If you want some help reviewing your ads and finding ways to save money and increase sales, book in a free strategy session! These no obligation or sales pitch and we may even find some bottlenecks and spaces to save you money and make you more! “
