Overcoming Inbound Marketing Challenges - What if I have no budget?

Inbound Marketing Challenge: How to Implement Inbound with No Budget

Overcoming Inbound Marketing Challenges - What if I have no budget? http://scalablesocialmedia.com/2014/11/inbound-marketing-challenges-money via @scalablesocialOne of the biggest barriers to entry to inbound marketing is a lack of budget.  So, what is a business to do? Not market at all? Just wait for business to flow in on its own? That is just going to lead to a bigger challenge, the “my business is in ruins” challenge. And we can’t help you there! So, before it goes that far, let’s find a way to make it work.

Stop Spending Money on Ineffective Marketing

Is there something you’re doing now that used to work, but just isn’t working as well now? Perhaps you’re still spending money on television or billboard advertising. Or, maybe you’re sending your sales team to several trade shows that just aren’t living up to your expectations. Used to be those brought in a decent amount of business, but perhaps now you are just throwing money away trying desperately to return to the days when that worked.

It’s nothing to be ashamed of. Most of us have those skinny jeans in the back of the closet just in case one day they fit again. Ditch the ineffective marketing AND the “some day” jeans and live in the present.

Look! You’ve found some money to invest in inbound marketing.

Oh, and if you aren’t spending ANY money on marketing or advertising, it’s time to rethink some things. Namely, how important is it to you that this business succeed. “Very,” you say?  Thought so. Then it’s worth the investment.

Do Some of Your Marketing Yourself

Are you spending time making cold calls by phone or in person because that’s what you’ve always done? Are you seeing a diminishing return on your efforts? How many hours a week could you instead spend writing blog posts or ebooks or networking on social media?

While this isn’t cash you can spend on a marketing agency, it is time you can spend doing some of the marketing yourself – saving what there is of your marketing budget for those things you aren’t equipped to do or don’t enjoy doing.

Use Free Tools

Some of the best marketing tools out there have free versions that are plenty powerful for beginning marketers. Some of our favorites include:

  • Mail Chimp – Email marketing
  • Buzz Sumo – Competitor research and content inspiration
  • HootSuite – Social media scheduling and monitoring
  • Buffer – Easy, on-the-fly social media scheduling
  • Canva – Create and edit images online, easily
  • WordPress – Website and blogging platform
  • Feedly – Easily find great content to share

Don’t Demand Perfection

Want to start a blog, a podcast, or to create ebooks or videos for your business? All are within reach for most business owners, particularly if you have a talented employee or two. They may not be as polished as you would like, but it is so much better to be useful to your customers than to hold back while you wait for your “some day” when you can afford the best in production.

Spend the Budget You Do Have Wisely

Paid ads like Facebook Ads and Google AdWords can provide a quick boost, but as soon as you stop paying, the traffic will stop, too.  And, unless people are going to call you as soon as they hit your site, if you don’t have any way to capture leads when people visit your site, you’re basically throwing your money away anyway.

Prepare to spend several thousand dollars on a full inbound marketing strategy. If you don’t think you’ll be able to implement it all right away, ask your agency to help you prioritize to get the best return for your efforts. When you have the strategy in hand, you can begin to put elements into place that will start to boost your traffic, leads and sales, so that hopefully soon you can hire an experienced marketing agency to do it all for you!

How much does a full inbound strategy implementation cost? Well, many companies are surprised to find out that in most cases, you can expect to pay upwards of $3,000/month. The best agencies become your marketing department. When you think of it that way, it doesn’t sound so expensive. Not to mention the fact that for many companies, not doing inbound marketing is just not an option anymore. So, whether you plan to try to do it yourself or bite the bullet and get some help, it’s time to invest in your business.

Summary
Article Name
Inbound Marketing Challenge: How to Implement Inbound with No Budget
Description
You say there is no budget. But it’s there – you’re just spending it somewhere else that isn’t working. Let’s find it and make it work!
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About the Author Alisa Meredith (311 Posts)

As co-owner and chief inbound marketing consultant at Scalable Social Media, Alisa Meredith spends a lot of time keeping up with online marketing trends for the benefit of our customers. Computers have been a passion of hers since her first T1-99, so inbound and social media marketing is a natural fit.

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