How To Grow Your Small Business (With Little Money)

6 min read

We know how frustrating it can be to try and scale, and grow small business. Especially when there’s not a lot of money to go around. If you want to learn how to grow your business today, then keep on reading. We’ll explain 3 inside tips that we at Social Ninja use everyday to help our clients maximise their use of social media platforms, and generate new business with little to no expenditure. A little pre-curser, the effectiveness of these 3 tips is amplified tenfold when you apply money to them (even just a little bit).

Low Cost Social Ads

Social networks are where the majority of millennials spend time interacting, consuming content, and learning about current affairs on a daily basis. So, it’ll make sense to put your company smack bang in the middle, right? Well, you’ve just got to make sure that you spend wisely to get your content in-front of the right people.

 

This is why you need to spend your money on low cost social ads. For the purpose of this article, we will focus our attention on Facebook. One of the cheapest ways is through retargeting. Have you ever been browsing on a clothes store, Asos for example, and added an item or two to your cart but never checkout? Then, only to find in your Facebook feed a range of similar products to what you were looking at before? Well, you’ve officially been retargeted too! Retargeting on Facebook is when you show an ad again to a person who has previously interacted with your business. For example, you may have an e-commerce store. You can use retargeting on Facebook to show your ad to people who have previously visited your store and browsed through a few items.

 

Retargeting is an effective way of recovering lost customers and engaging with your current customers, because not everyone’s ready to buy the first time. This type of ad is one of the best ways of keeping your brand top of mind in customer’s heads, as you can show an ad that features complimentary or similar products to what the customer was looking at before.

 

Agency Inside Tips

Here’s an agency tip from us. If you’re starting out without a lot of money to spend, we recommend focusing on retargeting to high intent audiences and to not worry about website traffic. The reason we say this is because website traffic is very broad and not as defined as using high intent audiences.

 

Focusing on add to carts is another effective way of using retargeting to reach clients. When people abandon a cart, it can be due to the cart totally being too much, or they may have only really been browsing. Whatever the reason, these people are obviously very interested in your business and the products that you sell. You can use retargeting to allow them to see other styles or varieties of your products. Maybe one of those may just take their fancy.

 

Quote abandonments, similar to add to carts, is a great basis for retargeting ads to start from. You may have the most simple, easy to follow quote. But sometimes, they just need an extra prod to get them across the line. Instead of having those awkward follow-up calls often, why not let retargeting do part of the work?

 

Create a list, and check it twice!

Once you’ve been in business for a while, you will develop a little customer list. Ideally, this should comprise of the clients first and last name, along with mobile and best email. The benefit of all this information is that you can use this to build a custom audience on Facebook based off past and current customers. This audience can then be the basis of an ad group for which you can try to sell services or other post-sale items to. Retargeting to people who have previously purchased from you is much easier to convert as they’ve already done business with you, they know you, your processes and your products (or services). After all, it’s much easier to keep a customer then to win a new one.

 

Dynamic Retargeting

If you’re in the e-commerce sector, you’re in luck because you can use dynamic re-targeting. Dynamic retargeting is similar to what we mentioned in our agency tip on add to cart retargeting, except this takes it to another level. Imagine being able to show a potential customer, someone who’s already been browsing your online store for a while, the exact same products they were looking at in their Facebook newsfeed? This is dynamic retargeting.

 

With dynamic retargeting, you can also tailor particular images, copy and positioning to best suit their demographic. A purchase made can be complimented by an ad like this, where you as the e-commerce seller provide  the exact same product, but in a different colour. Or, complimentary items for the customer to buy. For example, using Asos again, your customer may have bought a t-shirt and a pair of sneakers. Why not show them new pairs of socks, or this season’s latest coloured chino pants to allow them to create the perfect outfit. Dynamic retargeting is much more powerful because it allows you to really tailor ads to customers, provide the most value possible without coming across as spam.

 

Low Cost Google Ads

If your a new business and you’ve Googled yourself, and you’re not on the first page, then I’m sorry to say but you’re pretty much invisible. Investing in branded Google Ads is a great way of making sure that customers can still find you. Whist search engine optimisation (SEO) doesn’t have the same comparable ad cost, SEO is a much longer-term vision and something that should be implemented from the beginning.

 

Google Ads is cost effective because not many businesses will be bidding on your business name. Most companies will be bidding on generic keywords. When bidding on generic keywords, this is where the cost starts to rise steadily. The more competition, the higher the cost to bid on keywords.

 

Agency Inside Tips

Rather then bid on generic keywords, why not focus on bidding on words that are unique to your business? Like ones that feature your name? For example, if you own a hair salon, the majority of competitors will be bidding on keywords such as “hair salon Perth” or “Hair salon near the city”. Why not bid on “Sharon’s hair salon”. This will be a more cost effective way of getting your business name on the first page and to build awareness for your business, without the large ad budget

 

 

Conclusion

Let’s dissect some of the golden points from this blog post

 

  1. Run retargeting ads on Facebook as they’re a great way of keeping your brand top of mind for customers and showing them similar items to what they’ve seen before
  2. If you have an e-commerce store, focus on running dynamic retargeting ads on Facebook so that you can show the customer exactly the product they were searching for previously to keep that demand steady
  3. Run low cost Google Ads that focus on including your business name in the keywords to get your business on page 1

 

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