By David Holland

June 23, 2021


0 comments

If you are a small business owner who is looking to grow but has limited funds, this post will show you how to reach your goals. You may think that the only way to grow a business is by spending more money, but that isn't always the case. There are many things you can do without making any major investments or taking on new debt. Having a lack of capital has been the hardest hurdle to overcome for many businesses around the globe. This is because money allows the business to buy the necessary goods, services and supplies it needs for growth. However, no money does not mean that your business is doomed! This article will share different strategies for growing and marketing your small business on a budget!


1. Use a CRM

According to data compiled by HelpScout, it costs 5 to 25 times more to acquire a new customer than it costs to keep a current customer and a simple 5% increase in customer retention rates can boost profits by as much as 95%. The first thing is to use a CRM. (customer relationship management) system to stay connected with your customers. This allows you the opportunity to retain customer loyalty and improve sales by providing a more personalized experience for each individual person or company.

Advanced CRM solutions like Keap take things much further even on a budget. You can automate contact and follow up with your leads using high-level personalization.

There is no ambiguity about the results that come from using a CRM. According to Nucleus Research, you can expect a ROI of $8.71 for every dollar spent when you use a CRM solution and data from Salesforce shows that using a CRM can boost sales by up to 29%, productivity by up to 34%, and accuracy in forecasting business outcomes/results by up to 40%.


2. Use email marketing

At an ROI of 4,200%, email marketing is one of the most lucrative forms of advertising. In simpler terms, for every $100 spent on marketing, you'll get around $4,200 back. As a small business, it's is an essential tool in your arsenal. It's the equivalent of a handshake in medieval times; it opens doors and paves new opportunities for you to explore.

On a budget, it should be integrated into nearly every aspect of your business, from sales to customer service interactions. One successful company that has mastered this is Wistia with its blog dedicated exclusively to email-marketing. In addition to this, Wistia actually has a video on their blog page regarding the importance of email marketing.

In order to build an email list , you'll need to have a form on your website that people can sign up for, or simply ask them when they make their purchase. Some of the main benefits of email marketing are increased conversion rates and higher customer retention rates. Once someone is subscribed to your list, it's important not to bombard them with messages too often, but have a healthy balance.

Several tips on building a mailing list on a budget:

  • Make sure you have opt-in forms in every noticeable place on your website (sidebar, post footer, popup, etc.) to encourage people to join your email list. Buffer was able to increase its monthly email subscribers by 130% simply by adding sign up forms to more places.
  • You could offer an incentive (could be an ebook, ecourse, a coupon, or some other incentive). As these are especially conducive for attracting subscribers to your email list.
  • Be wary of using too many images in your email. It can cause delays or even trigger spam filters.
  • Run a giveaway as a way to build your list - Josh Earl was able to add almost 200,000 people to his email list in 11 days just by running a giveaway.


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About the author

Nice bloke with practical ideas. Former Procter & Gamble, Kraft and IBM sales and marketing executive. Became a business owner 20 years ago. Started multiple businesses including EXELA which is the most successful Keap® & Infusionsoft™ reseller in the EMEA region.

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