Marketing is sometimes seen as an expense that small businesses can’t afford, but it’s one of the most important investments a business can make. Marketing is essential for any business that wants to stay competitive and remain visible in the marketplace.

For small businesses, marketing can help them stand out from the competition and attract new customers. It’s also a great way to build relationships with existing customers and increase loyalty. Without marketing, your business may be overlooked or forgotten in a crowded marketplace.

Marketing can build brand recognition and trust. In today’s digital age, customers are more likely to research a business before making a purchase, so having a strong presence online is essential. Investing in marketing can help you create a strong online presence and make it easier for customers to find you.

Marketing is also a key way to increase sales and generate more revenue. Through marketing, you can reach a wider audience and target customers who are more likely to be interested in your products or services. This can lead to increased sales and greater profits.

Overall, marketing is an important investment for any business, big or small. But, the question then becomes, how much should you invest in marketing? And, how do you choose the marketing strategies and channels to make the most of your budget?

The question of how much to invest in marketing is more complicated and personal than can be addressed in a blog post, but we can help small businesses figure out how best to invest their marketing budget. In this blog, we’re going to cover the best marketing channels and strategies to invest in the order that we recommend you focus on them.

#1. Brand search

People who are searching for your business by name are some of the best leads you could ask for. Why? Because they’re already familiar with your business and they’re actively looking for it. This is why brand search ads are so important.

Brand search ads are an effective way to target customers who are already familiar with your business and are actively looking for it. These ads appear at the top of search engine results pages when someone searches for your business, helping to ensure that you’re the first thing people see when they’re searching for you.

If you’re already ranking organically on page one for brand keywords, you may think that brand ads aren’t worth the investment. But, that couldn’t be further from the truth.

For one, there’s nothing stopping your competitors from bidding on your branded keywords, so investing in brand search ads can ensure that your business is always at the top of the search engine results pages.

Additionally, people may search for your brand name using many different variations, from “[brand name] reviews” to “should I work with [brand name],” not to mention misspellings. Chances are, you’re not ranking organically for all of them.

Brand search ads can help you capture more of these searches, and target people who are already familiar with your brand and are actively looking for you.

#2. Retargeting

Not all leads will convert right away. In fact, some of your best customers may take weeks or months to convert, and in some industries, the process can take even longer. This is where retargeting comes in.

Retargeting is a powerful form of advertising that allows you to target people who have already visited your website or clicked on your ads. By targeting these people, you can stay top-of-mind and remind them about your business.

Retargeting also gives you the opportunity to target people who are in the process of making a purchase. For example, if someone visits your product page but doesn’t buy, you can retarget them with an ad for that product.

Retargeting is one of the most cost-effective forms of marketing, since you’re only paying for people who have already shown an interest in your business. It also helps you reach customers who may have otherwise been lost in the noise of the digital world.

There is an old marketing rule that says that it takes up to seven touches for a customer to convert. Retargeting helps you get closer to that number and increase your chances of converting a lead into a paying customer.

#3. Inbound search

When someone is looking for a local service or shopping online for something specific, they often start on a search engine, like Google or Bing.

Inbound search is about targeting people who are actively searching for a product or service that you offer. When someone searches for a keyword related to your business, you can show them an ad or organic listing that takes them directly to your website.

Inbound search is one of the most effective ways to get qualified leads. You’re targeting people who are already interested in what you have to offer, so they’re more likely to convert.

It also helps you capture people who are still in the research phase, as opposed to people who are further down the sales funnel and closer to making a purchase. By targeting people who are still researching, you have the chance to influence their decision and convince them to choose you.

Mastering inbound search requires two things — SEO (search engine optimization) and SEM (search engine marketing). SEO is the process of optimizing your website to rank higher in organic search results, while SEM is the process of using paid ads to appear at the top of the search engine results pages.

For a local business, Google LSA (Local Services Ads) and Maps ads are essential paid search strategies, while e-commerce businesses should invest in Shopping ads.

#4. Targeted outbound

Outbound marketing is a strategy of reaching out to potential customers directly, rather than waiting for them to come to you. It’s one of the oldest forms of marketing, but it’s still an effective way to reach new customers and get your message out.

One of the most effective forms of outbound marketing is targeted outbound. This is when you use data to target specific people or businesses who are likely to be interested in what you have to offer.

For example, let’s say you’re a wedding photographer. You could use targeted outbound to reach out to newly engaged couples and offer them your services.

Targeted outbound is an effective way to reach people who are likely to be interested in what you have to offer. You can use data to hone in on your target market and make sure your message is reaching the right people.

Popular social media platforms, like Facebook, Instagram, YouTube, etc., are great platforms for targeted outbound campaigns. You can target people based on their interests, location and other criteria, ensuring that your message is reaching the right people.

#5. Shotgun outbound

Shotgun outbound is the opposite of targeted outbound. It’s a strategy of sending a message out to as many people as possible, without targeting a specific audience, and includes things like digital billboards, TV ads, radio ads, etc.

Shotgun outbound is an effective way to get your message out to a wider audience and increase brand awareness. It’s also less expensive than targeted outbound, since you don’t have to pay for data or target a specific audience.

The downside of shotgun outbound is that it’s less targeted and you may reach people who aren’t interested in what you have to offer. This can lead to a lower response rate and a less effective campaign overall.

Shotgun outbound is best used in combination with other marketing strategies. For example, you could use shotgun outbound to increase brand awareness and generate leads, and then use more targeted strategies to nurture those leads and convert them into customers.

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Marketing is an important investment for any business, big or small. It’s the best way to reach new customers and increase sales, but it can be hard to know how to invest your budget.

We recommend investing in brand search ads, retargeting, inbound search, targeted outbound and shotgun outbound — in that order. And, Marketing 360® has everything you need to make the most of your investment.

Our all-in-one small business marketing platform makes it easy to build a beautiful website, master SEO and content marketing, drive leads with multi-channel ads, connect with your community on social media and so much more — all from one place.

Learn more and see our plans and pricing. And, for more tips and advice on how to fuel your brand, subscribe to our YouTube channel.