There’s absolutely no doubt that marketing can be expensive. You need to invest quite a bit of money to gain traction in any market nowadays. While word of mouth is great, it is not nearly as good as you may want it to be since it won’t get you the kind of momentum and traffic you’re looking to build. The challenge for business owners on a shoestring budget is to achieve the right balance. Here are some marketing tips for small business that do not cost an arm and a leg to execute.
1. Carry Business Cards
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Having business cards with you all the time allows you to exchange information with prospective clients in a quick and credible manner. You’ll meet potential vendors, employees, or clients as you go about your day to day business. Business cards are cost-effective and are a great way to generate leads with people with whom you have a rapport with. Make sure the cards match your branding and have your name, website, number, and social profiles.
2. Network
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As a small business owner on a tight budget, you can market your business by making the most of your existing network. Reach out to people and let them know what your business is all about and what you can do for them. You don’t even have to reach out directly to everyone you know. You can simply make a Facebook post to let your friends know about your business. You should also make a point of attending industry meetups. Introduce yourself and participate in all the activities. People usually refer work to each other in these circles.
3. Incentivize Referrals
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You don’t need to set up an expensive online referral program to make this work. You can simply let your clients know that you’ll be giving them 10% off on their next purchase if they send a referral that turns into a customer your way. Make sure to send out email reminders of this offer every now and then even to past clients who have not brought you business in a while. Referrals from existing clients are usually warmed up and ready to spend.
4. Form Partnerships with Related Businesses
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You can work with other small businesses in your niche that offer complementary products or services. You can have a shared referral program where you send each other clients. For instance, a client who walks through your door and spends some money can get a discount redeemable at the partnering business. You can also offer package deals together or go in together on prizes for social media contests.
5. Start Writing
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Content marketing can be a great way to generate leads without using tons of cash. This is one of the easiest marketing tips for small business. It allows you to improve your organic search rankings and provides your customers with valuable information about your products and services. If you can write, then you don’t even have to hire someone to do it for you. Just set up a blog on your site and start putting out content regularly. Make su5re to set goals for your content marketing so that you can track progress effectively.