7 Ways To Market Your Business On A Small (Or No) Budget
When a company is under a tight budget, marketing and advertising is probably the first place that is reviewed for cuts.
Even as conventional advertising strategies are of significant cost and hard to measure, small businesses have access to easy to analyze and inexpensive marketing tools. But with which tool do you being?
Email marketing is the digital channel that most companies use in some way. And with good reason. Statistics show a $38 return for every $1 spent.
Social media is also an inexpensive means, and can be extremely valuable in getting your message out to your clients and future customers.
Using email and social media is just a start. Try these ten marketing strategies that can help you promote your business on a small budget.
1. Develop An Elevator Pitch
Wherever you are, you should be marketing your business. To do so, you need to craft a thought-provoking elevator pitch.
Studies show that the average attention span of an adult is about six to 8 seconds. That’s all the time you need to grasp a person’s interest.
If they become engaged, then you only have a minute to give them your sales pitch. Developing a killer elevator pitch will be time well spent and can pay huge dividends in the future.
2. Leverage Your Network
Who do you know? Who do they know? Having casual business conversations or mining through LinkedIn will assist in your hunt for new prospects and clients. Networking requires a time commitment and it doesn’t provide instant gratification, but a strong network is one of the greatest assets any business person can have.
3. Collaborate With Other Businesses
Create a group of businesses that have similar client basis and develop cross-promotions with them.
There are many ways to take advantage of this collaboration, including using coupons, fliers, reciprocal Internet site links, bundled promotions or social media contests. By collaborating with each other, you can expand your customer base because you’ll be reaching new people
4. Public Speaking
There are numerous organizations seeking out qualified experts who can present to their groups on many different subject matter topics – including yours.
So shake off that fear of public speaking and volunteer. Provide simple to understand information and date and quickly become a recognized expert in your field.
5. Ask For Referrals
Most people of people say they're willing to provide a referral if requested, however only a few take the initiative to do so. Be bold. Referrals make it simpler to get in the door with new customers. Each time to do not ask someone for a referral, you are missing out on any number of opportunities.
6. Develop Relationships With Your Customers
You have heard it before. It is much less expensive to keep a customer, as it is to develop a new one. That’s why establishing sturdy relationships with your clients is important.
Communicate with them, through regular emails, Facebook posts and providing updated information on your website.
Create fun activities as well, such as contests for them to participate it. They will see more to you than just the service you provide.
7. Coupons and Offers
Coupons have been a very successful means to attract new customers. It’s also a great way to reward your recurring customers as well. Free trials and items are also a great way to provide a new customer with their first, and positive, experience with your business.
These 7 budget-conscious marketing strategies will assist you in engaging clients, developing relationships, and keep you in the minds of the consumer. Remember, It’s now much you spend on your marketing and advertising and marketing, it’s about your effort in positioning your company and how relevant it is for your customers.