Budgets can be tight when running a small business. Fortunately, there are plenty of free or inexpensive ways to market a business without spending a lot of money. Here are six tips for marketing a business on a budget and actually seeing results.
Leverage the community
The internet doesn’t have to be the only place where a small business focuses its marketing dollars. Leveraging a community is a great way to create engagement. By sponsoring a softball team or 10K charity run, individuals in the community will become familiar with the brand. It’s best if a business identifies their ideal customer and determines how they spend their time so that they can get in front of them.
Networking still works
Networking is still one of the top ways that a small business can get their name noticed. While this method does require a certain amount of time, it can really pay off over the long run. A strong network can be one of the best assets that a business can have.
Giving informational speeches is an excellent way for a small business owner to become an authority in their industry. A person doesn’t have to be a professional speaker to inform others about a topic. Many organizations are looking for experts to provide good information to their groups.
Collaborate with other businesses
Collaboration is another tactic that can be used by a business to promote their brand. By teaming up with other non-competitive businesses, they can create a bundle promotion, which helps gain exposure for each business. This method opens up the opportunity for each business to be in front of new people who may become customers in the future.
Build strong customer relationships
It’s a lot less expensive to sell to a customer base that trusts a business rather than trying to acquire and sell products or services to a new customer. This difference is why it’s important to establish strong relationships with a customer base that already exists. This can be accomplished by using email marketing.
One way to attract customers to a business is by offering coupons. If a new customer decides that they like using a certain product or service, they will probably come back. This generates an opportunity to expand the customer base of a business. A coupon can also be used to create return visits. For example, if a patron is given a 10 percent discount on a service the next time that they visit, they may come back if they liked the service the first time.