This week’s Let’s Talk edition: our experts discuss which marketing channels deliver the highest ROI when budgets are stretched thin. Email? Paid social? Content? See what they recommend.
This week’s Let’s Talk edition, our experts discuss which marketing channels deliver the highest ROI when budgets are tight.
When marketing budgets shrink, tough decisions follow. Do you double down on paid advertising? Invest in content? Focus on email? Every channel promises results, but data tells a different story depending on your industry, audience, and goals.
We brought together marketing leaders, strategists, and practitioners to answer one critical question: which channels actually drive measurable ROI when every dollar matters?
Let’s Talk!
Ginger Kidd, VP Marketing and Communications APAC, Sinch
“In 2026, the marketing playbook is being rewritten. The era of simply broadcasting into the void has been replaced by a more effective approach: the trusted, two-way conversation. This fundamental shift is powered by AI, but not as a “set-and-forget” tool. The future lies in a human-AI partnership.
AI is now a digital employee that requires coaching to handle scalable tasks like customer updates, freeing up human teams for high-judgment work like strategy and creativity. This new model places trust, not reach, as the ultimate growth driver. Customers also expect to interact and take action on the channels they already use. For instance, while email is the clear ROI backbone for promotions in Australia (with 84% of consumers still preferring it), SMS unlocks outsized returns when used selectively for high-value moments like cart recovery or fraud alerts, and is evolving into a rich, two-way conversational channel with formats like RCS.
For businesses on a tight budget, the mandate is clear: make every message count. The smartest investment is to use AI on trusted channels like SMS and email to turn one-way announcements into two-way conversations. This approach not only protects your budget by filtering out bots but also builds the customer trust that truly drives growth, one interaction at a time.”
Mandy Eyles, Regional Vice President Partnerships, APJ at SAP Emarsys
“When budgets come under pressure, the question for enterprise brands isn’t “which single channel should we keep?” — it’s how to make an omnichannel strategy work harder. The strongest ROI comes from being present on the channels your customers actually use and ensuring those touchpoints feel connected, consistent and personal.
For some audiences, email delivers the richest personalisation and the clearest commercial return. For others, mobile channels cut through because the message is timely, relevant and part of a wider journey. What our Customer Loyalty Index shows is that Australians respond when brands use their data well: nearly four in ten say they’d use apps more often if the experience felt more personal.
The brands that see the highest ROI aren’t choosing between channels. Those who meet customers where they are, with experiences that feel joined‑up and meaningful, will experience the business outcomes they need, even in tighter budget conditions.”
Anthony Capano, Regional Director, APAC, Intuit Mailchimp
“As algorithms shift, audiences become more fragmented, and media costs continue to rise, email and SMS have become two of the most reliable, high-ROI channels for building customer relationships and driving retention.
That’s because they’re direct, opt-in and built on first-party data, giving businesses clear insight into how customers engage and what drives meaningful action, making it easier to create personalised, thoughtful and effective campaigns. In fact, according to The Revenue Blueprint report, 61% of performance-obsessed marketers say email has a significant impact on organisational growth, while 55% say SMS drives purchases.
Just as importantly, email and SMS are channels you own. That means you’re not chasing attention; you’re building personal, durable relationships with customers who’ve opted in to hear from you. The relevance, consistency and connection these channels enable help turn interest into action and one-off purchases into repeat business, delivering stronger ROI over time.”
Smitha Virik, Head of Growth and Engagement, APAC, TEAM LEWIS
“When budgets are tight, ROI isn’t about chasing the loudest channel but choosing the most leverage. The highest returns consistently come from channels you own, not rent. Email and CRM-led marketing stand out because they compound over time, cost little to scale, and reach people who already trust you through personalised content. Pair this with high-intent organic search and you’re capturing demand that already exists, not paying to create it.
Content also punches above its weight when it’s opinionated and distribution-led. One strong insight, repurposed across LinkedIn, Instagram, PR, and newsletters, will outperform dozens of generic posts. The key is clarity, not volume.
Finally, partnerships and community-led growth are the most underutilised ROI drivers. Co-marketing with aligned brands, creators, or platforms gives brands instant credibility and access to new audiences at a fraction of paid costs.
The key is to design systems that compound. That’s where real ROI lives. By prioritising channels that are scalable and adaptable, brands can ensure every dollar spent is accountable and aligned with business objectives.”
Nathan Schokker, Founder, Wave CRM
“If it’s B2B, your channel has to be LinkedIn, hands down. Time and again, with a small amount of time budgeted to it, and literally zero dollars spent = eyeballs, impressions, engagement, leads and actual opportunities flow. Even in the “dull” weeks of January, plenty of time for conversations to begin and grow, meetings booked and deals closed. Not a dollar spent, just some focused time. Everyone assumes decisions makers are still enjoy their holidays, they aren’t, they’re waiting for a conversation to start.
LinkedIn mixed with reengaging those contacts from last year or the year before that fell off the radar. Easiest marketing you can do and brilliant bang for your buck!”
Marcus Rossato, Head of marketing APJ, Klaviyo
“When budgets are tight, the highest ROI channels aren’t the loudest — they’re the ones you already own.
Too often, brands default to channels like paid media when pressure mounts. But the right email and SMS flows, as well as effective automated customer service, consistently deliver stronger, more sustainable returns by owning the customer relationship — not just chasing clicks. In turn, they drive repeat purchases, increase average order value, and cost far less than acquiring new customers through paid ads.
In fact, Klaviyo’s report with James Hurman shows repeat buyers continue to outpace new customers when it comes to revenue contribution, particularly during peak retail moments.
Customer service is another overlooked growth channel. When powered by AI and connected to a brand’s customer data, it doesn’t just resolve issues — it recommends products, supports reorders and turns post-purchase moments into conversion opportunities. With 88% of Australians open to AI managing order tracking, returns and personalised reorders, service becomes a revenue lever, not a cost centre.
So, the smartest play in a lean market is to stop chasing cold traffic at all costs, and start investing in your own audience. Ultimately, the most sustainable growth comes from the relationships you’ve already built.”
Heather Marano, Director, Green Door Co
“One of the highest ROI marketing channels is winning awards.
It’s something I discovered myself a decade ago when I was first building my business, Green Door Co, and was recognised with a B&T 30 Under 30 Award. The exposure and credibility took my new business to the next level. I was immediately sold on the power of awards, and I’ve since built my entire business around helping other businesses enter and win awards.
Awards are a fast track to winning credibility in the market. Awards shine a spotlight on your business and signal that you’re the real deal. If you need to quickly build your reputation in the market, awards are the way to do it.
Awards are an excellent way to gain a competitive edge. An award is a third party endorsement which benchmarks your business above the competition, signalling to your customer that your business is the best of the best.
We’ve had clients leverage awards success to attract investors, sell their businesses, win bigger contracts, or build government and corporate partnerships. Awards are a cost-effective investment in achieving lofty strategic goals.”
Elise Balsillie, Head of Thryv Australia and New Zealand
“When budgets tighten, the smartest marketing decisions are the ones that turn effort into momentum quickly. High-ROI channels are rarely the loudest, they are the most connected.
The first place I recommend small businesses look at is owned visibility. Your Google Business Profile, website and reviews already sit where customers are searching. Keeping details accurate, responding to reviews and posting updates consistently drives real enquiries without paying for reach. It is slow burn trust that compounds.
Next is direct communication. Email and SMS outperform almost every paid channel when used with intent. The mistake small businesses make is broadcasting offers. The opportunity is relevance. A short and timely message that solves a specific customer problem converts far better than any generic campaign.
Referrals remain one of the most underleveraged growth engines. Not by asking for favours, but by designing moments worth sharing. Follow-ups that thank, educate or surprise customers turn satisfaction into advocacy.
Finally, reuse what already works. One strong customer story can become a review highlight, a social post, a website update and a follow-up email. ROI improves when content works harder, not when more is created.
The businesses I see growing are not chasing every channel. They are building a small ecosystem where marketing, customer experience and follow-up reinforce each other. That is where platforms such as Thryv play a critical role, by helping small businesses connect the dots and turn limited budgets into sustained growth.”
Nishita Khatter, Managing Director, Blue Moon Marketing
“When marketing budgets are tight, the focus must shift from broad awareness to high-efficiency conversions. As Managing Director of Blue Moon Marketing, I always advise clients to prioritise two specific channels that consistently deliver the highest ROI: Email Marketing and Local Search (SEO/SEM).
Email marketing remains the undisputed king of ROI because it leverages your existing customer base. It costs significantly less to retain a customer than to acquire a new one. By using segmented, automated workflows, you can drive repeat business with minimal ongoing spend.
Secondly, you must capture high-intent traffic. When a budget is limited, don’t waste it on “top-of-funnel” awareness. Instead, invest in Local SEO and highly targeted Google Search campaigns. These channels put your brand in front of Australians exactly when they are ready to buy.
Finally, never overlook Conversion Rate Optimisation (CRO). There is no point in spending money to drive traffic to a website that doesn’t convert. At Blue Moon, we believe in “Smart Designs, Sharp Results,” ensure your landing pages are seamless, mobile-friendly, and lead-focused. Efficiency isn’t just about where you spend; it’s about making every click count.”
Debbie Hatumale-Uy, Chief Marketing Officer of Realise Business and Founder of Only the Sweet Stuff
“When budgets are tight I don’t think like a media buyer. I think like a small business owner who has had to make every dollar work.
I’ve built businesses from the ground up and now sit in the CMO seat at an organisation dedicated to helping small businesses grow. And in both worlds the answer is the same. The highest ROI never comes from paid channels on their own. It comes from what happens once people enter your world.
Paid Meta is powerful for momentum. It creates traffic and demand quickly, which matters in online business. But its real value is unlocked when it feeds into something meaningful – strong organic content, a personal brand people trust, and a community that makes customers want to come back.
Organic builds trust before the transaction. Personal brand carries credibility when buyers are deciding who to purchase from. Community compounds results through repeat customers, referrals, user-generated content, and word of mouth. That ecosystem is what reduces acquisition costs and increases lifetime value over time.
The question I always ask is simple. Once someone enters your world, what makes them stay?
Smart growth is not about more spend. It is about building connection that lasts.”
Satya Upadhyaya, Marketing Technology Leader, ANZ
“When budgets are tight, asking “which marketing channel delivers the highest ROI” is usually the wrong place to start. Channels on their own do not create value. ROI is created by how well an organisation connects customer identity, intent, decision-making and execution across a number of touchpoints.
In practice, the strongest returns under budget pressure tend to come from channels built on first-party relationships. Email, owned websites and apps, loyalty programs, customer portals, and tightly targeted paid search consistently outperform broad reach channels. This is not because they are more creative, but because they sit closer to known demand. They cost less to operate, allow better timing, and make it easier to decide who should be contacted, who should be suppressed, and what offer actually makes sense. When money is limited, reducing waste matters more than chasing reach.
Personalisation plays a critical role. Strong performers use data and predictive models to decide whether to engage a customer at all, which channel to use, when to act, and what outcome they are optimising for.
The same thinking applies to omnichannel. The goal is not to be present everywhere, but to coordinate a small number of channels so they work together around customer intent.
Ultimately, the highest ROI in constrained environments does not come from picking a “best” channel. It comes from designing a system that focuses on spending where identity is known, intent is clear, decisions are adaptive, and channels work together to move customers forward with minimal waste.”
Billy Loizou, AVP & General Manager, APAC, Amperity
“When budgets get tight, the best ROI usually comes from channels you already know well. Email, loyalty programs, onsite and in-app experiences, and paid retargeting tend to outperform because they’re built on first-party data you already have, not new spend.
The bigger shift isn’t about picking a single “best” channel. It’s about making what you’re already doing – work better. Brands see stronger results when they stop sending the same message to the same person multiple times, or guessing at timing and relevance. This comes down to having clean, connected customer data.
We see teams improve ROI by fixing data quality and identity first, not by adding more tools or channels. When marketers can clearly see who a customer is and what they have actually done, campaigns move faster, personalisation feels more natural, and spend goes toward what’s proven to work.”
Jonathan Reeve, Regional Director, ANZ at Eagle Eye
“When marketing budgets are tight, we see the highest ROI rarely comes from chasing new customers – it comes from deepening relationships with the ones you already have. Loyalty programs and personalised offers consistently outperform many other channels because they focus spend where it matters most: existing, engaged customers. As Tim Mason and Sarah Jarvis have highlighted in their work on loyalty economics, there is often significant untapped potential within already loyal customers – people who are predisposed to spend more if brands give them the right reasons, recognition, and rewards.
Personalisation is especially powerful when it’s data-led and timely. Offers that reflect real customer behavior – what people buy, when they shop, and what motivates them – feel relevant rather than promotional, increasing redemption and reducing wasted spend.
In challenging conditions, efficiency is everything. Brands that invest in loyalty and personalisation can stretch limited budgets, replacing mass-market promotions with targeted, measurable activity.”
Geoff Main, Marketing Director & Founder, Passionberry Marketing
“When working with startups through to nine-figure businesses, this is a common question I get. The answer is rarely about finding a new channel. When growth is the challenge, ROI comes from doubling down on what’s already working and adding a small number of focused tests around it.
The strongest ROI almost always starts with your existing audience. Email, CRM, retargeting and founder-led content are channels you’ve already paid to build – ignoring them is wasted money. Close behind are partnerships: affiliates, referrals and co-marketing give access to warm audiences with trust built in. They take effort to establish, but often outperform paid media on both cost and lead quality.
For demand capture, search still matters. Google and Bing continue to perform in 2026 because buyers are already signalling intent – but only if positioning and landing pages are clear. LinkedIn is harder than it used to be, especially for cold outreach, but can still deliver ROI via lead forms, founder authority and retargeting. Volume plays are fading; relevance is what converts.
Beyond that, paid TikTok can work for awareness and message testing, Reddit can perform in specific communities, and LEO can deliver strong ROI over time. The key is leverage: reuse the content you’re already creating to engage warm audiences.”
Iris Chan, B2B Marketing Leader, Resultation
“It’s important to recognise that channels should not be viewed in isolation — they are part of a bigger equation that includes objective, content and audience. The marketing channel alone will not deliver the desired ROI without the other critical success factors.
Having clearly defined objectives is key to determining the most effective vehicles to use. For example, the best-performing channel for driving high-intent leads further up the funnel may not yield the intended results if deal acceleration is your goal.
By the same token, it is crucial to identify which channels are engaging your buyer personas cost-effectively. Some channels have extensive reach but are not trusted nor frequented by your target personas which means they would not convert well.
Finally, content is the game changer. Just as a car with a turbocharged engine will not go far without fuel, content plays an integral role in the efficacy of marketing channels. The channel is a conduit or receptacle – they need to be fuelled with content that is relevant and of value to the right audience to produce strong ROI.
If you visualise these four elements — channel, content, audience, objective — in a Venn diagram, you can prioritise the channels that sit in the intersection based on cost.”
Maria Kathopoulis, CEO & Chief Marketing Officer at UNTMD Media
“When budgets are tight, reach is a luxury. Intent is the priority.
Data consistently shows that Google Search delivers the highest ROI for constrained budgets because users are already problem-aware. WordStream reports that high-intent search campaigns convert 2–3x higher than paid social cold traffic.
Second is CRM-driven email and remarketing. These channels monetise existing demand.
Retargeting typically delivers 30–50% lower CPA than prospecting, because trust is already established.
The mistake most businesses make is spreading spend across too many platforms. Focus wins.
One channel at profitability beats five channels at breakeven.
PR and authority can also quietly boost ROI. Edelman’s Trust Barometer shows that brands perceived as credible see up to 25% lower acquisition costs, because trust reduces friction.
The playbook is simple: capture intent, nurture trust, then scale. Anything else is gambling.
Advertising is multiplied salesmanship. Tight budgets demand disciplined salesmanship, not noise.”
Peter Curran, Founder & Business Development Manager, Digital Surfer
“What I try to educate businesses around when it comes to ROI and selecting platforms is making sure you’re hitting people at different stages in their sales journey. This really does differ a little between businesses, but a solid strategy, at the very least, needs:
- A long-term, organic search SEO strategy, which is easy to expand as your business grows and has a good ROI when you’re implementing the right factors. One of our clients saw a 2100% increase in conversions, averaging at around 64 leads a month with this alone.
- A solid ads strategy, especially utilising retargeting, to meet people on the search results at the exact time they’re looking for what it is you do best.
That’s the core. If you’ve done the groundwork already and have a good, relevant audience on socials or in an email database, then you can also expand out on these strategies when you need to bring in some extra work.
I sound like a broken record, but to get good results and a good ROI, you need to know what you’re already working with. Track everything. Look at your data. And if you have no idea what you’re looking at or don’t have time, get someone to do it for you who will be honest about it. Because there’s a lot of agencies and marketers out there who will tell you to do something as it’s beneficial for them, not necessarily for you.”
Lauren Clemett, CEO, The Audacious Agency
“The biggest mistake is viewing marketing as a broad, unending expense. In 30 years of brand management, I’ve learned that if it has no clear impact on your business, you simply shouldn’t do it.
It’s relatively easy to find ROI in deadline-driven marketing, such as EOFY promotions or Mother’s Day sales, with set goals and conversion flows that require planning and budgeting. The real challenge is the ongoing, evergreen work of brand awareness and profile building. These are essential for long-term growth but lack the pressure of a deadline, making them more likely to blow out.
As a profile-building specialist, I’m always going to say that awards bridge the gap between marketing and deadline-driven results. Compared to paid advertising, they’re low-cost and provide increased visibility and 3rd party credibility, while imposing strict requirements and deadlines that force action. However, you must select awards that align with your brand proposition and resonate with your ideal audience. There’s no ROI in entering a free start-up award if your goal is to be recognised as an established industry leader.
The real ROI is leveraging awards to attract ideal partnerships, talent and clients, so you need to choose awards aligned with your marketing plan.”
Michael Haynes, SME Business Growth Specialist, Listen Innovate Grow
“When budget is tight, the “highest ROI” marketing channels aren’t universal—they’re the ones that align to how your buyers actually choose and purchaseprofessional services.
To identify the best ROI channels for B2B Accounting, CFO Advisory, and B2B Technology companies, you must deeply understand three things:
- Who makes the decision to buy (often multiple stakeholders),
- What each stakeholder prioritises (risk, credibility, speed, outcomes), and
- How they buy—which is crucial because professional service purchases blend self-research with heavy reliance on trusted networks and ecosystems.
That’s why the most reliable high-ROI “channels” are typically partner/referral ecosystems, client communities, and credibility assets that support buyer self-education (case studies, proof points, deep and specific insights pertaining to key business imperatives). By contrast, recent research and market behaviour continue to show that buyers of B2B professional services behave differently from other B2B categories, and many common tactics—like generic email blasts and social media posts—often underperform unless they’re tightly anchored to buyer intent and trust-building.”
Marissa Candy, CEO, The Marketing Factory
“When budgets are tight, ROI stops being a buzzword and starts being a survival skill. Here’s where we consistently see the strongest returns at The Marketing Factory, especially for brands that need results, not noise.
- Email Marketing (Still the Quiet MVP)
If you already have a list, this is usually the highest ROI channel available. It’s owned, predictable, and scalable. Smart segmentation, strong offers, and consistent value beat flashy campaigns every time. Email is where relationships turn into revenue. - Organic Content with a Distribution Plan
Content alone doesn’t convert, but content paired with intent does. SEO driven blog posts, LinkedIn thought leadership, and short form video that answers real buyer questions compound over time. The key is focus. One platform, one audience, one clear message. - Retargeting Ads
When ad budgets are limited, we avoid cold traffic. Retargeting people who’ve already interacted with your brand consistently outperforms broad awareness campaigns. Smaller spend, higher intent, faster conversions.
The Bottom Line
Tight budgets demand precision. The highest ROI doesn’t come from doing more, it comes from doing fewer things exceptionally well, aligned tightly to your customer’s buying journey.
That’s how we build profitable momentum, even when resources are lean.”
Emily Gagen, Owner & Client Gifting Specialist, Momentum Gifting
“When the purse strings are closed up tighter than an alligator’s jaw, stop searching for new clients and start investing in the ones you already have.
The majority of clients move on to new coaches or services because they no longer feel valued or appreciated, and would rather spend their hard-earned money elsewhere.
When automated gratitude becomes a strategic marketing investment, you get a much higher ROI than cold advertising ever will.
Now, let’s be clear, client gifting done poorly is a waste of money. Random, last-minute gifts with no strategy won’t move the needle.
But when client gifting is done with intention, purpose, and thought, it becomes a powerful retention tool.
It:
- Strengthens client relationships
- Increases brand awareness (yes, they will share it)
- Differentiates you from competitors
- Keeps you top of mind long after delivery
Most importantly?
It turns clients into long-term retainers, often re-signing and adding on additional services they didn’t have to begin with.”
Jonathan Englert, Founder & CEO, Andiron Group
“Those who check ROIs like their pulse and seek marketing enlightenment in spreadsheets will likely miss this big change: earned media from PR is poised to become one of the most powerful and price-competitive sales engine we have ever seen. One leading marketing researcher has found that 89% of the links that AI cite comes from PR. Why? LLMs with their hunger for third-party resource validation and their algorithmic affection for story-telling (i.e., exactly the kind of stuff that traditional media is good at) are in the process of supplanting traditional search as the primary path to your business. This matters because unlike the skepticism and hurdles that traditional search induces, an LLM’s recommendations are 3 to 4 times more valued. That’s why, if the LLMs consistently get your story “right”(that is reflective of what you actually want out there) and it matches the pain points, solutions and needs of your target audience, you have crafted a rich channel that will keep giving. Make no mistake you will have to craft that channel, maintain and update it, but the value will ultimately be indisputable, even for your spreadsheet zealots.”
Casey Greig, Head of Strategy, Audience Group
“Looking for ROI When Budgets Are Tight? Think Performance, Price, Penetration
PERFORMANCE marketing is often the first instinct, because it’s the fastest way to convert spend into short-term revenue. But it only harvests existing demand.
To work, two things must already be true:
• Your product is available where people buy.
• Buyers are in-market and actively looking.
If distribution is capped, so is performance.
PRICE is the next lever.
Which way you pull depends on your market PENETRATION.
Low market share? Discount.
Your biggest problem is that most people haven’t tried you. Discounting drives trial.
Why it works for small brands:
• Trial drives mental availability.
• No entrenched price expectations = no long-term damage.
• Promotions create meaningful volume when your base is small.
High market share? Raise prices.
Discounting at scale trains customers to expect it. That’s hard to undo. When your base is large and loyal, a small, justified price rise beats promotions.
Why it works for large brands:
• Strong brands with high salience can hold price, remove discounting, and still maintain volume, lifting margins.
• Even modest increases generate disproportionate profit.
• Leadership is reinforced by maintaining value.
Resist the reflex to treat every budget cut the same.
Pull the lever that matches your situation.”
Joe Romeo, Founder and Principal Consultant, Aperitif Agency
“There’s power in cold outreach, particularly in the early stages of growth. It’s one of the fastest and most controllable ways to win new clients and grow your sales pipeline. At its core, cold outreach is initiating a conversation with decision-makers who genuinely have the problem you can solve.
The first step is identifying the right list. Spend time curating a targeted group that closely matches your ideal client profile. Relevance matters far more than volume. Next, meet your audience where they are (via LinkedIn DMs, phone calls, direct mail or SMS) and personalise your outreach.
Clearly articulate your offer and frame it around their specific pain point. Your call to action should be low-friction and easy to say yes to, like, “Would it be useful if I shared a free audit?”
Consistency is what makes cold outreach work. Aim for at least 100 targeted outreaches per day to counter naturally low response rates. Just as important is follow-up. Most responses don’t come from the first message, but the second, third or even fourth touchpoint. Tools like instantly.ai make it easier to scale without losing personalisation, allowing you to source and verify contacts, customise copy and automate follow-ups.”
Quentin Aisbett, SEO Strategist, Searcht
“I’m going to step away from expectations here. When budgets are tight, the most critical ‘marketing’ investment isn’t a single channel – it’s Brand.
Technically, Brand isn’t a channel of course, but it lifts the performance of every other dollar you spend across the entire marketing mix. You simply can’t afford to stop-start your brand awareness and reputation.
However, if I have to choose a technically-true marketing channel, I’m going to show my bias and choose SEO.
SEO is a dual-threat to achieve ROI: It captures existing demand (people searching for solutions) and creates future demand (building brand awareness). It is often the highest volume driver of leads/revenue, yet rarely sees the investment of Paid Media.”
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