Trying to expand your reach while lowering your marketing costs 20 years ago would be nearly impossible. I would almost argue it was impossible, but now with the internet, you can cut a lot of cost from traditional marketing and expand your reach on the internet. Of course the most obvious way would be by incorporating an inbound marketing program in your business. Taking away from traditional marketing and moving that budget towards content marketing can help you expand your reach while lowering your marketing costs. But for this article let’s go in an even more cost reduction direction... Socials. And after reading our blog, check out our other resources which includes a cost reduction eBook.
Believe it or not, your audience is out there on the social networks. Social media has taken over in the past 10 years. There are numerous amounts of people on Facebook, Twitter, Google +, LinkedIn, Instagram, Pinterest and Youtube. Your specific industry will ultimately decide which platform will be best for you. You should also be aware of the Social Etiquette on these sites. And the best thing about all of these platforms is that they are FREE. So essentially you are expanding your reach without increasing your marketing costs one bit. So now to reduce marketing cost you just need to lower your current advertising spending for the amount of reach you are gaining on the social networks. Now I did say essentially no marketing cost but technically these platforms are not free. They do take manpower to run. It’s not just something you can set up and expect it to run by itself. You need to monitor your socials and place new content on them for others to find and learn more about your company.
Each social is set up very differently so each one will have a different audience that uses them. Let’s take a little look at a few stats around each social.
- Facebook: Skews young, but the 45-54 year old bracket has seen a growth of 45% since 2012. 73% of households of $75,000 and above are using Facebook which kills twitter who only have 17%. Lastly, Facebook is highly diverse in the fact that 86% of it’s users are outside the U.S.
- Instagram: 68% of their users are women
- Twitter: Also skews young. 27% of 18 to 29 year olds use twitter, while only 16% of those in their thirties and forties use twitter.
- LinkedIn: Skews towards males and is a highly international website.
- Google+: Male dominate. 70% of their users.
- Pinterest: Female dominate. 84% of their users and are dominated by tablet users.
Facebook, Google+ and LinkedIn all allow you to set up a business page for your company. It allows you to interact with customers and other businesses. It is a good way to host giveaways to people who like your profile or share your posts. Making connections on these sites will increase your reach as long as you post content consistently. The content you post is vital to expanding your reach. The better your content is, the better the opportunity of it being shared through your connections. Premium content is vital to online marketing. These sites also give you the opportunity for paid advertising, but this would not help you reduce your marketing costs.
Twitter allows you to interact with customers on a personal level. You can get a better understanding of your target demographic while promoting your business in your tweets and also hosting giveaways. It is a real time connection with potential customers and you are also given the ability to hashtag posts to increase your reach. Using hashtags are a good way to promote content that you post on twitter. You can also learn a lot of information from your customers on twitter. Just don’t use your twitter account like this.
Instagram and Pinterest are great ways to get your products in front of plenty of potential customers. Pinterest gives you a better opportunity to offer more information than Instagram, but both can get your products in front of potential customers. On Pinterest you can share infographics and create contests like facebook and twitter. These mediums are better used for visual products and tend to skew towards women.
Lastly, youtube is a great place to promote content through videos. You can create your own youtube channel and start creating an audience by posting regular videos. Videos can be used in a variety of ways from informational webinars to how to videos. It is a great way to inform people and tends to be more captivating compared to the other socials since it includes all the different factors of sight, sound, motion and emotion.
Socials are the best way to expand your reach without expanding your marketing budget. Yes, it will take the manpower to work on these socials so essentially it is not free, but it is much more cost effective compared to the regular outbound marketing techniques.