While budgets are tight, marketing is probably the first business expense you want to reduce or cut. Whereas traditional marketing strategies are expensive and difficult to measure, small businesses have never had greater access to economical, trackable marketing tools. However with so many digital tools available, how do you know where to start?
Email marketing is the real digital marketing platform with an average return of $38 for every $1 spent. Email and social media marketing are just the start. Here are some of the powerful marketing strategies that help you market your small business on low budget.
- Create an Elevator Pitch
You ought to be marketing all the time — wherever you are. Consequently, you need a convincing elevator pitch. Study shows that the average attention duration of a person is almost about 6-8 seconds. That is all the time you need to grab someone’s attention. If you efficiently engage them, then you only need a little over a minute to sell them on your service or product. Spend some time to create an excellent elevator pitch. The Return on Investment (ROI) will pay massive dividends in terms of creating business opportunities.
- Leverage Your Community
You don’t need to think big in relation to your marketing efforts. Consider locally. What is going on your network? Sponsor a rugby match in your community and print bookmarks and leave them at the local public library. Become acquainted with your best customer and consider about how and where they spend their time. Then search for possibilities to present to your customer with your marketing message.
Put together a team of collaborative, ambitious businesses in your area and agree to cross-promote. You can use vouchers, flyers, reciprocal website links, bundled promotions or social media structures. By teaming up with each other, you can improve and increase your customer base because you will be getting new people.
There is no better way to build a business than to get out there and get to know people. Networking requires a time dedication and it doesn’t offer instant fulfilment; however a solid network is one of the finest assets any business owner can have.
- Give a Speech
Many people hate public speaking. However, there are many businesses looking for certified, subject-matter professionals who can present to their groups. Take a deep breath and volunteer. You don’t need to be a professional providing the statistics you share is useful to the target market. And the advantage — the more you do it the easier it gets. Additionally, it places you as a reputable authority in your industry.
- Create Buzz
At present, a small business owner can accomplish many things without hiring a professional firm. Subscribe to help a reporter out. You can respond to queries from reporters who are looking for ideas for story and sources. Some might be small media opportunities; however others are predominant media outlets that use this service as well.
- Ask for Referrals
Don’t get nervous about asking for customer referrals. Most people say they’re willing to offer a referral if requested, but only a few take the initiative to do it on their own. Referrals make it quite simple to get in the door with new customers. In case you are not asking for them, you are missing opportunities.
- Build Relationships
It is less expensive to keep a customer than it is to get a new one. That is why establishing strong relationships with your customer base is essential. One of the ways you can do that is by means of keeping in contact with people via email marketing. Ask customers to provide their email addresses when they visit your website or store. Then, make your communications educational, beneficial and qualified — something your customers will anticipate to receiving.
- Offer Coupons
Coupons are an excellent way for plenty of businesses to attract new customers. Research suggests that people will go out of their way to use a coupon, proving that this technique is effective in increasing your customer base. Coupons can also make the customer to come back. For instance, in case you give a customer a coupon for a discount, there is a high chance that they will be back.
- Give It Away
In case a person has the possibility to experience your service or product, odds are that they will need to buy more. Don’t be afraid to offer someone a free sample or a trial. In current economic climate, people are even more contented in purchasing something they have been able to experience first.
Hopefully these 10, low-cost advertising approaches will help you engage more customers, build relationships, and in the end keep your service or product center of attention. It is not about the cash you need to invest in marketing efforts, however it is about the effort and time you out into it and notably, the relevance it has for your customers.