In Focus

6 strategies for making your small budget seem huge

Chad Little
Targeting Posted on November 03, 2008

Introduction

You have a great product, a great website and a great staff. The only thing that isn't "great" is the size of your marketing budget. Roughly $27 billion dollars will be spent in online advertising in 2008, according to eMarketer. With so many marketers occupying the same space, how can a company stay competitive while staying within its budget?

Don't resort to taking up offers from the snake-oil salesmen such as bogus SEO optimization services or overpriced and over-glorified affiliate marketing programs. Instead, use proven ways to compete toe-to-toe in today's online market without breaking your budget.

We have all seen companies get caught up in the losing game of keyword bidding wars over terms that are way too general, or against competitors with deep pockets that are willing and able to spend on loss leaders. A strong presence in today's online market is critical -- but contrary to popular belief, size isn't everything. What does it take for a marketer to compete effectively when money is tight? Here is a list of six key strategies marketers can use to get ahead while staying within their advertising budgets.

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Comments

Cindy Goh
Cindy Goh December 4, 2008 at 4:09 AM

Interesting points on the re-targeting! Will be keen to explore on it :)

Jay Waite
Jay Waite November 13, 2008 at 8:50 AM

Chad,
If you would like, please have D. Richmond visit, www.vizergy.com, who offers a flat fee based, on line booking engine at $99.00 per month. This booking engine will be customized and is easy to manage.
Thanks
Jay

D. Richmond
D. Richmond November 12, 2008 at 9:53 AM

I am the Innkeeper of a b&b on a shore town in the northeast that opened this past October. We have a web site but people are unable to book online. I am trying to convince the owner that this is important and I almost have him convinced but it really bothers me that a 30% commission is charged. I understand paying a commission is the cost of doing business, I have a previous background in travel, but 30% seems excessive. I know it's because it goes to 2 entities, but am I the only one that feels this way?

Chad Little
Chad Little November 6, 2008 at 12:11 PM

Glad you enjoyed the article! It's important for marketers to know what their return conversion rate is and track it. Retargeting is one of the easiest ways to increase your return conversions. If you would like a more detailed look at return conversions, please read another article I wrote that ran on 10/28 titled "The crucial metric you're not tracking” (http://www.imediaconnection.com/content/20858.asp). Thanks for your comment!

Tao Wong
Tao Wong November 5, 2008 at 7:23 PM

Great article, lots of good points. I do like the discussion about re-targeting and return customers.

Chad Little
Chad Little November 3, 2008 at 5:55 PM

Thanks for your comment!
You are right, most marketers, big and small, are facing budget cuts due to the economic situation we find ourselves in. I would argue, no matter the economic situation, all companies should focus on their return conversions (conversions made by customers who have either visited their website and left without converting or have previously made a purchase from that website.)

ENumerys Global
ENumerys Global November 3, 2008 at 10:42 AM

Great perspective on the benefits of re-targeting!
One thing- even big guys are seeing their budgets being chopped, so they have to learn to swing with the economic cycle. Big guys have a significant amount of budget tied to top of the funnel advertising. During weaker cycles it is important to maximize ROI by shifting the budget balance a bit more down-funnel.