3 Tips if You Only Have $1000/mo to Spend on Marketing
3 Tips if You Only Have $1000/mo for Marketing
Here’s how to get the most bang for your buck.
1) Don't focus on ALL social channels + ads on multiple ad networks.
If you spread yourself too thin, you're not likely to see big results in a short period of time.
With a limited budget, you are likely better off focusing on a few strategic organic channels (Facebook, LinkedIn and Twitter) and one ad network. Keep in mind, the more money you spend on a single ad network, the sooner the algorithm can optimize, meaning faster results and better ROI for you!
This is not the case for brands selling highly-Instagramable products - like beauty / weight loss / fashion etc. OR a blog-based business whose content could easily explode on Pinterest (think recipes, mommy tips, wellness, personality tests, home decor, etc.) In these situations, it makes sense to add either Instagram and/or Pinterest into the mix.
If you do decide to spend your marketing budget on social, keep in mind that this will likely require months of hard work and testing to get optimal results.
Also remember that other marketing channels can produce 18x more ROI than social media.
You'll see better results by being strategic than you would by throwing spaghetti at ALL of the social media 'walls'. :)
2) Decide how soon you need to see ROI
If you quit your day job and are living on cans of beans and need to see ROI like, yesterday, DON'T spend that $1000 on marketing! Put it away in your emergency fund (okay, well maybe spend $100 on re-stocking your pantry with healthy foods), and get a part-time job so you can at least cover rent + food.
But really, if you are in this situation you likely have a ton of DRIVE to be successful, so you might want to consider DIY-ing most of what needs to be done (assuming you don't have a full-time job).
There are plenty of Facebook communities full of FREE advice for new entrepreneurs, and learning the basics of marketing will be tremendously helpful when you do start hiring contractors or an agency to help you grow.
With such a tight budget and no wiggle room for testing, your expectations are likely to be totally unrealistic at best. Any contractor who agrees to unrealistic expectations for an extremely low price, likely has no idea what their doing and is trying to scam you. Like you, they're probably figuring things out as they go along, which can make for a great junior employee or project-based contractor, but not a miracle worker.
If you've got some financial security, you've tested your business idea, and you intend to build a meaningful business (not a ponzi/get-rich-quick scheme) - consider investing your marketing budget in SEO instead.
For most businesses, SEO is the best choice for long-term revenue and growth.
SEO a significant investment and the results can take 3-12 months to see, but if done right, it can be some of the best money you'll ever spend.
Depending on what's left over of your $1000 budget, email marketing, content marketing, PPC and building an organic social media presence are also important next steps, and the order of importance depends entirely on your business. Just keep in mind the strategy from point #1, and don’t spread yourself too thin.
(Feel free to contact us if you're not sure which avenue would be best for your business).
3) Learn Facebook Ads
Most experienced FB ad consultants charge a minimum of $1000-2000 bucks a month for the ads management, and obviously your ad spend is on top of that.
If you hire someone to do your ads for you when your total marketing budget is only $1000/month, you'll likely end up with $0 in ad spend after paying the consultant.
You can sometimes find someone who is still learning FB ads to work for a cheaper rate, but results may be mixed (they'll be testing their skills on your campaigns) and $1000 is still a stretch to include their fee and your ad spend.
In this case, I highly recommend learning FB ads for yourself so you can start testing and developing audiences which will help you understand your product or offering even better.
Despite all of the research you've done to develop your perfect audience personas, you'll almost always be surprised by which audiences and strategies actually convert on Facebook, which is extremely helpful info for when you do hire a professional.
There are some free online resources to learn the basics of Facebook ads, but the best way to start creating ads that convert ASAP would be to take an in-depth class from an expert.
The course I can recommend without hesitation is Claire Pelletreau's Facebook Ads Course (affiliate link).
I owe all of my Facebook ads knowledge to Claire, having learned directly from her via her Facebook Ad Consultant Incubator program and her Absolute Facebook Ads Course, and I truly can't recommend her enough.
Keep in mind that FB ads are not a magic pill and CPMs have been steadily climbing, meaning results are more expensive and tricky to get than ever. They're not impossible, but expect to start seeing ROI around the third month; sooner if your offer and funnel are already optimized, or longer if you still have some major optimizing to do.
Have just $1000 to spend on marketing?
Contact us with details about your business goals and we'll do our best to send you some strategies to help you out.