Having a budget for your marketing is essential for any business- small or large. Unfortunately, just knowing that isn’t enough to ensure that you have the budget you need. How can you, as a business owner or employee, stretch that marketing budget and watch it increase?

Know What’s Working & What’s Not

When it comes to marketing your business, there’s no better way to ensure you are conserving your budget and utilizing it in the best way possible than by knowing what’s working and what’s not. Don’t be afraid to try new things, and make sure you’re paying attention when it comes time to continue with or cut out different marketing efforts. When you focus on knowing your data and understanding where your budget is going and why, your business will see positive movement as far as marketing is concerned.

Utilize Your Own Talents

You are likely more creative than you give yourself credit for. If you can’t afford to hire a full time marketing manager right now, don’t. Too often businesses hire when they don’t have the budget or means to do so. You can avoid losing extra money by utilizing your own talents when it comes to marketing and creativity. Take advantage of the free resources at your disposal, like Facebook, Google and Yelp. On that same note, if you can afford to hire a specialist to help with your marketing, that could be very beneficial for you. As long as it’s within your budget, don’t be afraid to let a master take the wheel!

Know Your Audience

Knowing your audience when it comes to your marketing efforts is necessary. Utilizing your marketing budget in the best places means you know who is seeing your marketing, what they want to see, and why you’re doing it. Pay attention to who your customers are, and target their interests and similarities when you’re designing a marketing plan for your business. Making sure to spend your money in the right places is the key to utilizing and expanding that marketing budget!

For more insights on marketing strategy that actually works for small business, subscribe to the FreshLime Newsletter here. Connect with Jay Bean, Founder of FreshLime and Small Business Marketing Expert on LinkedIn and Twitter. And last of all, if any of these tips have helped you or if you have anything to add please comment below. We’d love to hear from you!