10 Tips for Marketing on a Shoestring Budget
Most small business owners face this dilemma at one time or another: How to create a successful marketing campaign that generates revenue advertising without breaking the bank.
The days of social media have certainly made it easier to promote a business, but it’s not the only way, nor should it be. There are several other things you can do to grow your business without ruining your budget. We’ve outlined ten of the best below.
- Elevator Pitch – An elevator pitch should be interesting and short. You need to grab the person’s attention and hook them immediately. Taking the time to really craft a great elevator pitch can truly make all the difference in selling them a product or service. It’s worth it.
- Community – Thinking local can really pay off. Marketing for the bigger picture is obviously a good thing, but narrowing your strategy down to the local community is more important. Engage yourself with the people in your own neighborhood. Volunteer, offer services or incentives with local charities, participate in community events and leave business cards or coupons at local hangouts. Get to know people in order to find out what they need, and make note of how your business can potentially help them. Take every opportunity you can to get your brand and your message out there.
- Collaboration – Find local business (non-competitive ones) that could benefit from a collaboration and contact them. Using bundle promotions, incentives, coupons and more, you can grow both of your businesses at once. Social media can really help with this one, too. It’ll expand your customer base, build a great relationship with another local businessese and help you branch out.
- Networking – There is no better way to grow your business than to do that yourself out there, networking, communicating. Forming friendships and getting the word out about your business organically is really the best way.
- Public Speaking – Some people aren’t super comfortable with this, but if you are, it can really propel you forward. Appearing at conferences and events, and giving speeches full of useful information will give you a credibility and loyalty you might not get otherwise. It gets easier as you go, too.
- Creating a Buzz – Taking the time to polish up your PR skills is always helpful. You don’t have to hire a firm to do it, either. You can do it all yourself, by working on social media and using services likecom.
- Referrals – Asking for customer referrals is a great idea. For some reason, people can be reluctant to do it, but you shouldn’t be. Most people are happy to give referrals when asked. And it never hurts to add extra incentives via coupons and freebies.
- Building Relationships – Keeping an existing customer is easier than recruiting a new one, believe it or not. Taking the time to establish strong bonds with your existing customers and giving them a reason to be loyal is incredibly important. They must know they can trust you, and that you’re there for them no matter what. Engaging them via email and social media is just the start. Keep lines of communication open, and have excellent customer service at all times.
- Offer Coupons and Incentives. Coupons are useful in recruiting new customers, and incentives are good for retaining them. Everyone wants to save, or to feel that they are getting an exclusive deal. These are easy tools to generate repeat business.
- Giveaways – Another easy way to gain customers who are likely to stick around – Free trials and samples are beloved by everyone for good reason. Why not give them a shot?
Ten easy tips to growing your business without spending a bundle. It can be done!
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