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How to Bootstrap Your Digital Marketing

By September 24, 2016 No Comments

In the early stages of your business, or during the initial launch of a new product or service, you may not have an unlimited budget to promote your new venture online. But, this doesn’t mean that you have to skimp on your digital marketing efforts. You can bootstrap your digital marketing.

Even if your business is brand new, you’re probably familiar with the concept of Bootstrapping, or using cash flow and profits to fund the next phase of your business. The concept is battle-tested, and it works.

But, do the rules apply to online businesses? How can you best re-invest profits to grow your business by marketing online?

In the early stages of your business, or during the initial launch of a new product or service, you may not have an unlimited budget to promote your new venture online. But, this doesn’t mean that you have to skimp on your digital marketing efforts.

digital-marketing

Even if your business is brand new, you’re probably familiar with the concept of Bootstrapping, or using cash flow and profits to fund the next phase of your business. The concept is battle-tested, and it works.

But, do the rules apply to online businesses? How can you best re-invest profits to grow your business by marketing online?

Bootstrap your Digital Marketing

  1. Start with Social Capital

Using social media to promote your business on a budget is nothing new. In fact, it’s not even very effective when you try the totally cost-free route. If you have an amazing product or service that goes viral, great. But for most businesses, that’s not happening right away.

You start a Facebook page, an Instagram, a Pintrest account and are faced with the social media equivalent of a writer’s blank page fears: there’s no one there. You can promote to friends, like other pages, and go through the litany of low/no cost promotion options. You should do those. But, it’s going to be a long climb if you rely solely on these methods.

The good news is that Facebook ads are great for small or new businesses on a budget.

Promoting your posts and “buying” likes is amazingly cost-effective. If the thought of advertising, and losing your shirt, on Google’s pay per click program, Facebook ads are for you.

First, for a few hundred bucks, you can grow your audience to several thousand people. If you are focusing on ads rather than followers, the cost is largely the same. So, it’s possible to spend under a grand and get the word out to thousands of potential customers.

If your site, landing pages, product pages, and copywriting are on-point, you’ll generate sales and leads. Now you can use these profits to expand your ad campaigns.

Digital Marketing for Beginners

  1. Do Work In-House… for Now

You’ve decided to take to Facebook to run ads.

Facebook 2

Who’s doing your ad writing?

Who’s doing the copy for your landing pages, product pages, and website?

These should be done by copywriting professionals. Great copy equals leads and sales; poorly written ads and web pages cost you leads, sales, and losses in ad revenue.

But, early on, you may not have the budget to hire top copywriters. You may not even have the capital to hire mid-level writers.

You’ll have to either:

  • Write ads yourself – this is a free option, but comes with an enormous challenge: writing great ads is not easy.

However, writing passable ads isn’t impossible. There are dozens of books on how to write good Facebook ads. Pick one up, study it, practice writing ads (on paper), then try a few out online. Testing is the only way to know if ads work, so take mini-budgets and test two versions of the same ad. Pick the winner and run with it. Once it generates a few sales, take the profits and hire someone better than you.

digital marketing

  • Hire a copywriting intern – there are a lot of talented copywriters still learning their way, or studying marketing in college. One of the easiest ways to land big copywriting gigs is to have a killer portfolio.

Newbies need to build their work, so will be willing to work just to build it up their portfolios. Find a few good writers, have them produce ads and your web copy that generates some capital, then use the profits to hire pros. This method is great because you can continue to utilize up-and-comers to produce content while you funnel profits into getting high-end work done on your sales funnel.

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