How to Grow Your Business Online Without Breaking the Bank

Running a business can be so expensive, especially as a small business owner. You have to invest in your business if you want it to grow, be successful and be sustainable. However, there are many free and cost-effective ways you can grow your business. Here are some ways you can grow your business online without breaking the bank. 

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Build an Email List 

Even if you’re just starting out, you can start to build your email list. According to Hubspot, email generates $42 for every $1 spent. That translates to a 4200% return on investment. 

In addition to that, you’re in good company, Hubspot says 64% of small businesses use email. 

With an email list, you can not only deliver value to interested subscribers, but you can send sales emails, get feedback and facilitate engagement. 

If you’re worried about cost, there are many email marketing platforms you can sign up for that are free. Some platforms are only free for a certain amount of subscribers and others are just free. Of course, there are usually some limitations with the free plans but you can always upgrade as you grow your list and business. 

We recommend Mailerlite because that’s the platform we use and trust. Mailerlite is free for your first 1000 subscribers and allows you to send 12000 emails per month. 

Tips for Email Marketing 

• Use a lead magnet to collect email addresses. A lead magnet can be a free checklist, ebook, infographic, webinar, or another resource your target audience will find valuable. 
• Send out regular and valuable emails that are proofread. You may want to hire a writer to do that for you.
• Batch your emails and schedule them to go out at regular intervals to save time. 

Create a Website 

Having a website is one of the most important ways you can grow your business online. Many small business owners skip out on having a website and that’s a huge mistake. Not only does your website make you bankable and legitimate, but it’s also an example of owned media. 

Owned media refers to a platform that you own and so you have more creative control over it. This is in contrast to social media platforms where you don’t actually own the platform. Yes, social media is important for growing your business but you should be using your social media platforms to drive traffic to your website and offers. 

With your own website, you don’t have to compete with the algorithm or be kicked off for any number of reasons.

Website hosting is typically inexpensive and you have a variety of hosts to choose from. 

Wondering what you need to include on your website? Use your home page to introduce your business and the problems it solves. If you have testimonials, reviews, or pictures of your product, this is a good place to include them.

In addition to that, you can have a page that tells the story of your business and why you started your company. Storytelling is an excellent technique when it comes to marketing so definitely leverage it on your website.

Tips for Creating a Website

• A clean, simple and easy to load website is better than one that is cluttered and takes too long to load.
• Pay attention to SEO best practises by including keywords you want to rank for, optimized headings and a meta description. Avoid large blocks of text and use headings and pictures to break them up.
• Include a sign up section for your email list, an option to contact you and a blog. 

Start a YouTube Channel

Not only can you make money on YouTube, creating a YouTube channel is free and therefore won’t break the bank. 

One of the myths surrounding YouTube is that you’ll need expensive equipment. That’s not true at all, an affordable mic and ring light are all that you need. 

YouTube is an excellent way to grow brand awareness, generate leads, make money, and grow your online business. 

The key is to come up with content pillars. There are 3-4 topics that you’ll create videos around. Next, you’ll have to create the videos, publish them, engage with your commenters and promote the video. 

If you’re ready to start growing your business on YouTube and creating multiple streams of income, check out our YouTube Masterclass. 

Tips for Using YouTube

• Be consistent. Create a posting schedule you can stick to so you don’t get overwhelmed or burned out. 
• Use hashtags and other optimization techniques to increase the visibility of your videos. 
• Batch videos when you can so that you will have content to post during busy periods. 

Maximize Your Social Media Platforms

There’s a reason most brands are on social media, it works. Social media is an excellent tool for marketing your small business on a budget. It’s free to create accounts and post virtually unlimited content.

If you’re feeling overwhelmed by social media, you’re not alone. The trick is to pick 1-2 platforms you know your target audience hangs out. You can find out where they hang out by conducting a survey or checking the internet for the latest survey done on social media demographics. 

Creating quality content for your chosen platforms on a regular basis can help you grow your business without breaking the bank. Make sure each piece of content you publish has a clear goal. Don’t publish content for the sake of publishing content.

As we mentioned before, you should be using social media to drive traffic to your website and offers. In addition to that, social media is a great place to grow a community. Having a loyal and mutually beneficial community is definitely a great way to grow your business.

If you need help using social media to grow your community, check out our attraction marketing masterclass. 

Social Media Tips

• Create content specifically for your target audience. If you’re not sure what resonates, check what your competitior is doing, check out forums and ask them.
• Create a content calendar so you can keep on track.
• Write down key performance indicators (KPIs) for your social media platforms such as impressions, shares and click through rates. The KPIs you monitor depend on your goals for the piece of content. You’ll be able to access the analytics for most of the social media platforms so you can measure your KPIs.

Collaborate With Other Entrepreneurs and Businesses 

We cannot stress enough the importance of collaboration in business. Collaboration is a great way to grow your business because when done right, you bring more exposure to your business which can help it to grow. 

The good news is, there are many ways businesses can collaborate for free, such as:

• Running joint giveaways
• Creating packages together
• Cross-promote with offers and coupons 

You can also collaborate with other businesses by leveraging their platform to showcase your expertise and build brand awareness and trust, 

She Boss Talk has so many ways you can collaborate with us and they’re all cost-effective such as:

• Guest blogging
• Joining our podcast
• Applying for our shopping guides 
• Other advertising opportunities 

No matter how new your business is, you can collaborate with other businesses and reap the rewards. 

Collaboration Tips 

• Collaborate with businesses that attract your target audience.
• Check out the collaborations the business has done with others first. For example, if you want to guest post, read other guest posts so you have a better understanding of what the company is looking for.
• Always focus on building relationships with other entrepreneurs and businesses. 

Conclusion 

There are so many ways you can grow your business online without breaking the bank. The key is to do research and build relationships with your target audience and other entrepreneurs. Even though running a business can be expensive, there are always ways to do what you need within your budget, the trick is to research and ask questions.

How are you planning to grow your business without breaking the bank?