More often than not, small businesses are operating on a very tight budget. Small business owners are constantly looking for ways to cut costs. They’re worrying about indispensable utilities like optimum internet pricing or the heating bill. If not, they’re thinking about slashing that marketing budget.
What if I told you all three of those things are vitally important to your business? You literally cannot function without an internet connection. Your business needs basic amenities. And your marketing efforts mean the difference between survival and failure. Now, more economical methods of marketing exist than ever before in the past. Digital and social media marketing have taken over the business world.
Done right, you can get a significant return on these methods. However, there is still the even less costly world of personalized marketing for those without much digital expertise. In this blog, I will explore 10 highly cost-efficient ways to market your small business successfully.
List of Ways to Market Your Small Business:-
1. Pitch Perfect
Research evidence shows that the attention span of an adult is between six to eight seconds on average. This is the window of opportunity you have to get someone interested in what you’re offering. Once you have their attention, you have around a minute to build on that and sell your product and service.
Think of it as being on an elevator bound to the fourth floor with a bunch of people. You need a killer pitch to successfully engage the people on that elevator before it reaches the fourth floor. So invest the time in making your marketing pitch perfect for any type of audience.
2. Work your Network
It always pays off to have a professional familiarity with other players on the field. Granted that networking doesn’t always give instant results but it is an important asset to have. A strong network of people builds your understanding of market trends and competitor strategies among other benefits. So get out there and shake some hands and get to know people on a professional level.
3. Think Local
When it comes to marketing, you don’t always have to think globally. Especially when you’re a small business with a limited budget and reach. Instead, focus on your community. Apprise yourself of current events and happenings in your community and capitalize on them.
Sponsor a kid’s sports event or a bake sale. Work with people in your community to give yourself visibility to prospective customers. Understand what your ideal customer persona is and how best to deliver on its needs through marketing.
4. Cultivate Existing Customers
One easy and efficient way to build relationships with your existing customers is through email. Build up an email database by asking your customers for their email address when they interact with your business.
Use this database to send out emails of appreciation, news, promotions and offers to your existing customers. Not only is this going to boost your sales, return customers are more likely to become loyal to your business.
5. Collaborate with others
One good way to get yourself out there is to collaborate with other businesses with related products or services. As long as they are not in direct competition with you, you can be very helpful to each other. Cross-promotion is a great way to share access to separate customer bases. You can promote your collaborations through coupons, website links to direct traffic and social media activities.
6. Public Speaking
There are many organizations that routinely look for expert speakers to address their groups. As an entrepreneur, you have unique insights into the subject matter of your field which can be put to use. Public speaking provides you with a forum to promote your business to a group of people directly. Don’t pass up such opportunities.
7. Referrals Are Key
You should always ask your customers for referrals, without exception. People are ready to give referrals, just not of their own accord. Usually, you will have to ask your customers to do so in order to get your foot in the door with other people. This is a good way to expand your market reach, especially for a small business.
8. Giveaways Work
One great marketing tip is to do a giveaway with a social influencer in your field. It’s a great way to get people to experience your product or service for themselves. Influencers typically have a large following and offer you the opportunity to raise a positive interest in your business. It encourages people to try out what you have to offer.
9. Create a Buzz
A small business particularly can accomplish a lot with a limited budget these days. There are sites that provide resources and stories to journalists from both large media outlets and smaller ones. Either way, both offer you an opportunity to create a positive buzz about your business.
Coupons are a tried and tested a way to attract customers, both for big businesses and small ones. Human nature tells us individuals will go out of their way to avail coupons. It’s also a great way to generate return visits. People will always be interested to come back if they have a reason to.
These ten methods are less cost-intensive than traditional marketing and should help keep your business moving forward. So reconsider letting go of your Optimum 200 service and other amenities. Instead, you can use these methods to boost revenues and keep things afloat.