Marketing Strategies without Breaking your Bank


Marketing Strategies without Breaking your Bank

Optimizing your advertising budget is a must especially when you are just starting your business. With the rising cost of popular advertising media, it is a challenge to make your way through without sacrificing a huge chunk of your capital. Going all-out when it comes to advertising does not automatically equate to increased profit. To boost your sales, you must combine strategy with a bit of ingenuity. Your advertisement must be repeated a few times to create an impact on your customers’ buying decisions.[1] Below are some inexpensive marketing strategies that can help improve your business:

Car Magnets

Consider using your own vehicle as a mobile advertisement. Take advantage of the traffic by promoting your business on a cleverly designed car magnet that will catch people’s attention while you’re stuck on the road. The best thing about these car magnets is that it is easy to place on your vehicle without damaging the paint. You can freely remove it when you need your car for personal trips.

Flyers

Flyers are still one of the least expensive ways to advertise something, which is why flyers are still abundant especially in parking lots, side streets, and commercial places. To reduce the chances of getting your flyers thrown in the bin, you may double it as a discount coupon. By adding more value to your flyer, people will think twice before throwing it away, and finally get to keep it.

Social Media

Creating a social media account is almost free, but you have to spend a lot of time to catch the interest of your target customers. To maximize its effectiveness, you must ensure regular interaction by posting messages which are relevant to your business. You can also share short videos, and photos of your recent work in your account, providing a better view of what your business is all about.

Online Videos

If you cannot afford a TV commercial, then online videos can be your best friend. For almost free when you use your own camera and computer, you can produce a low-cost video advertisement. Tutorials, tips, and tricks can be uploaded to different web channels and shared to your target costumers.[2] This method is very helpful for those who are offering handyman jobs, landscaping, or other industry related services.

Cross-promotion

Small businesses can benefit from each other through cross-promotion. This can be done by local merchants teaming up in offering their products and services. For example, a local makeup artist may offer discounts when a customer avails the services of a local photographer, and vice versa.[3] Through the extended network, both businesses gain each other’s customers, boosting each other’s sales because they do not compete with each other.

Community Sponsorships

Local events within the community provide opportunities to make your business presence felt. Taking part in fundraisers[4], school programs, walk/run for a cause, and seminars are a good way to gain new customers. Food, small tokens, and discount coupons may be given to the guests, thus opening your doors to new inquiries.

Referrals

Asking for a referral may the best marketing strategy of all time. After providing high quality products and services for quite a time, nothing beats an honest referral from a satisfied customer. This should be the aim of every business owner out there – to establish a deep connection of trust among its customers, and the friends and relatives of such people. All it requires is hard work, dedication, and honesty is dealing with every customer.

[1] http://sbinformation.about.com/cs/marketplansample/a/impactplan.htm
[2] http://www.smallbusinesscomputing.com/News/Marketing/10-affordable-small-business-marketing-strategies.html
[3] http://www.entrepreneur.com/article/223917
[4] http://www.entrepreneur.com/article/223917