As a small business owner, you have a number of effective marketing strategies to reach out and connect with new clients. Spending money wisely  – and creating a solid financial plan – are important regarding this element of your business, and finding new ways to cut back on expenses is a smart move.

Thankfully, the Internet has provided plenty of ideal options to do just that. Online, you can find a variety of social media sites that are perfect for marketing, including Facebook, Twitter and LinkedIn. However, one may be overlooked in the business community: YouTube.

Here are three tips in order to maximize the potential of your YouTube channel:

1. Add some personal flavor
The first thing you should do to your company's YouTube account is make it personal. Amy-Mae Elliott, in an article for the American Express OPENforum, wrote that every profile needs the business' brand, relevant data and links to other sites. This way, when a person stops by, they'll feel like they are visiting the main website. In addition, make sure you add the option to subscribe via one click and a search feature so users can browse older posts. 

2. Connect with fellow YouTube users
As with any social media site, much of the fun is in talking with other users. Elliott recommended engaging with the community online, either in the videos themselves or in the comments. Try to make as many friends online as possible, and keep up-to-date with current events and upcoming changes to the platform. If you do so, there is a better chance you'll build followers and get views.

3. Position yourself as the expert
As a small business owner, you have a fair amount of industry expertise. YouTube is the perfect place to share all that knowledge, either by talking to other people in the comments or creating content that showcases these skills. According to Business2Community, make sure your videos educate viewers. For example, make a short clip that is a how-to video on something related to your products and services. Or, talk about industry trends or offer up a product demonstration. The more you teach people on YouTube, the more likely they are to follow you and buy from your small business.

Therefore, YouTube can be a fantastic asset to your financial plan and your company as a whole, providing a cost-effective and enjoyable avenue for marketing.