Small business owners have to market their businesses smarter than before these days – With the recession looming with no visible end, every single penny counts. Many small business owners today are bootstrapping and going frugal.
If you are interested in low budget but effective marketing, I have some tips to share you Here are 5marketing tips to help you find (more) customers and close more sales, quick:
Don’t advertise like the big guys
Unlike us the smaller counterparts, big businesses advertise to build brand name and nurture future sales. We simply don’t have the budget to do so. Instead, DIY your advertising and/or outsource it to low-cost advertising companies, even freelancers. Make sure you always include an offer in your advertising that get prospects to be more inclined to respond.
Always offer lower cost alternatives
Prospects simply want to hang on their money as much as they can, as long as they receive satisfying result. They want lower price for the best result they can get. Instead of burning your own business in a price war with your competitors, consider creating a “light” version of your services or products by stripping out non-essential features that will keep yours appealing to a certain segment in the market.
Alternatively, offer a premium version of your service or product
Not all prospects want cheap prices. Many are willing to pay a premium to receive high quality product or service. On contrary to the point above, you can actually combine several products or services into a premium package that is offered at a higher price tag.
Go online
You should go online for either promotional purpose or selling your products or services. It’s low cost, easy to learn and easy to do. Blog for your small business enhance your branding, while setting up a website will reach more customers from a rapidly growing number of online shoppers. Don’t forget to use available social media, such as Twitter, Facebook and LinkedIn to build a community that can get you marketers and business evangelists.
Try unconventional marketing methods
Spy on your competitors, and learn what they are doing in common. If you do your homework well, you may find an innovative idea or two that will increase your profitability while avoiding competition. One idea: Conventional mail box is not obsolete, yet – You can sponsor your local event flyer (ask for an exclusive sponsorship) that will generate considerable sales leads in exchange for a small amount of money.