When starting out a company, savvy business owners dedicate a healthy portion of their budget to marketing. After all, they are savvy because they see value in hiring content marketers, videographers, and article writers knowing that they should prioritize content for their website and social profiles.
But how does one go about budgeting their content marketing expenses? Better yet, during tough economic times, how does one cut content marketing expenses without compromising a brand?
During tough economic times, some companies are forced to shut down and/or lay off employees. They are under so much pressure to cut down expenses that they might decide to completely cut content marketing expenses altogether. Doing so may save them money but it may come at a compromise to their brand.
So, how do you cut content marketing expenses without compromising your brand?
Make Use of Analytics
You probably have a multiplatform content marketing strategy, which is great. However, it’s now time to go back to the drawing board to figure out which platforms are giving you the biggest return on your investment.
Make use of content auditing tools like Google Analytics to find out where you should be spending your money and which platforms you need to eliminate completely.
The tracking and monitoring features of Google analytics are comprehensive enough and the best part is that for the most part, the platform is free.
If you want to get the most out of Google Analytics, make sure you combine your findings with extensive research from other platforms.
Research Your Audience and Focus on Them
Focus on a customer retention strategy. Sometimes businesses focus so much on reaching new customers that they completely forget about the existing ones. What you may not know is that it costs you five times more to reach new customers than it does to sell to existing ones.1
Here’s the thing, when a prospect purchases your product or service, it’s because they trust your brand. They are more likely to come back if they feel appreciated.
This is why it is smart to nurture existing client relationships.
Send an appreciative text or mail once in a while and try offering them exclusive offers.
Create More Content Internally
Unless you’re working with a local content marketing agency, outsourcing content marketing tasks can turn out to be a costly strategy. This is especially true when you are using various channels for your digital marketing strategy. You will have to hire freelancers to curate your newsletters, video and blog content, and it will cost you a small fortune.
Focus on creating more content internally. It might take some time for you and your team to start churning out perfect content but in the long run, it will be a worthwhile investment and as you will be in control of the content quality and if done right, you’ll learn more about your customers and their needs.
By creating more content internally, you’ll get to cut content marketing expenses and still have a long term marketing plan for the future.
Use Low-cost Content Promotion Tools
Creating content alone is not enough; you also have to share and publish it on other platforms so that it can generate engagement. Sharing content manually takes time but the good news is that there are many free and affordable content promotion tools available that can help you automate this process.
You could use a sharp stick to dig a hole but a shovel is much better right? Because it gets the job done easily and quickly. That’s the same way content promotion tools work. HubSpot, Buffer, and even our own s.agency41.com, are tools that help you publish your content across your social media platforms with ease.
Other helpful tools include Evernote for organizing your content ideas and Canva to create graphics.
Repurpose Your Old Content
One of the best ways to cut content marketing expenses is by reusing the content you already have. This is not to mean you repeat the content exactly as it is. Think of it as turning a broken vase into an outdoor flower pot. It is the same broken vase but the flowers make it look beautiful.
Recycle your content in other formats like infographics, podcasts, videos, e-books, etc. Find out which format is popular with your audience and amplifies your brand image.
Bonus Tip: Focus on Organic Traffic.
Paid adverts are great but you know what’s better? Leads from organic traffic.
Leads from organic traffic are your greatest assets because they are more likely to convert. Think about it; you didn’t have to use the money for them to interact with your content. They did it out of their own free will because they liked what you have to offer.
Is it Possible to Cut Content Marketing Expenses Without Compromising Your Brand?
But you first should figure out which content marketing tactics are yielding results and focus on growing them.
Work with a qualified team of content marketers and you are good to go!