11/ 07/ 2006
Cheap ways to advertise and market your business on a shoestring budget
Not every small-business owner can afford to launch a slick marketing or advertising campaign or pay for a public relations professional to help with publicity. For most small-business owners, it is up to them to create a buzz about their products and services. If your marketing/advertising budget is limited, how do you promote your business enough to attract a steady stream of new and loyal customers? It may be easier than you think. Here are a few cheap tricks to try.
Narrow your target. Pick the best people to market your product/service to and devote your resources to reaching that group. Know where they live, how much money they make, where they hang out, what groups they belong to and what they read. Send out postcards or e-mails to gauge interest before making cold calls. Sell your product/service to people who will influence potential customers and possibly sell them on what you have to offer. Find out the strengths and weaknesses of your competitors and develop your message from there.
Make every ad count. Whatever advertising medium you focus on, invest in one that will reach the majority of your target audience most often. Publicize the products/services that are most popular and will generate the greatest return. In your message, spotlight a need that you can fulfill or a problem that you can solve, then test your message out on a mentor, adviser or friend who represents your customer base. Play to your strengths by picking one distinctive trait about your business and blowing that up. Find a way to track your ads or direct-mail pieces so that you know what pays off, and eliminate what isn't working.
Go over-the-top. Sometimes the best publicity stunts are the most ridiculous. Use your creativity and imagination to come up with quirky ways to grab attention for your business. Put magnetic signs on your car or stand on the street corner in an old-fashioned sandwich board displaying one or two key products and wave to passersby. Gather a group of positive picketers to march around your business, hoist signs and cheer about how great your products/services are. Subtler tactics can work, too, like free giveaways on special holidays, special sales for specific community groups like teachers and policemen, block parties in a target neighborhood or sponsorship of a half-court shot contest during a high-school basketball game.
Develop a reputation. Making yourself known and sought after for your expertise is an easy way to publicize your business and the products/services you offer without spending a dime. Volunteer to speak at meetings for local service organizations. Team up with local merchants or government agencies to host a free seminar. Check with your local community college about offering a workshop. Doing so may cost you in personal time, but it will pay off in the credibility you'll build among potential business partners, contacts and customers. Offer to write an op-ed article in your local newspaper or call into a local radio talk show to give your two cents on a topic relating to your business.
Become media friendly. Instead of viewing reporters with suspicion, look at them as your best friends; they can help you get exposure you couldn't afford otherwise. Local newspapers, community newsletters and television stations always need sources who can provide a local angle on a myriad of issues. Offer yourself to the press as a resource for quotes or information. Send press releases when applicable and share your story with reporters, supplying them with great anecdotes to use and sources to interview. If you want to get your name out beyond your community, pitch your story to trade or educational journals in your industry or offer to write an article for free.
Get involved. Join the local chamber of commerce or trade organization to network and attend meetings and events so that you can connect with other business professionals on their schedules .Donating your services to local organizations or sponsoring a local event will also give you free visibility and the chance to meet influential community members who might be able to help you later on. Most of all, being civically active is good publicity in itself because it shows your commitment to community.
Pound the pavement. Walk around the neighborhood of your business locale and introduce yourself. Print up business cards to hand out generously. Just a few quick visits to a couple of local businesses may yield regular referrals -- publicity that you can't buy. Also, leverage your existing relationships with friends and family and ask them to spread the word about your business or refer others to you.
Partner up. Find non-competing businesses related to yours that cater to a similar market and discuss the possibility of offering special or joint deals with them. If you have a dry-cleaning business, for example, talk with a local formal shop owner about carrying coupons for discounted dry cleaning during prom season. Some businesses like restaurants and movie theaters or office supply stores and printing services are a natural complement to others. Look for merchants or businesses that attract the type of customers you want and brainstorm about how you can work together. Cross-promotion arrangements can provide ongoing revenue that benefits both parties. Approach local professional groups about offering special deals to their membership or sharing your insights with members for free.
Go cyber. Face it: These days nearly everyone uses the Internet. That means that a local customer may be more likely to find you on the Web than by driving past your business. Find a tech-savvy high-school or college student to help you set up a Web site and dress it up with snazzy tools and text. Include keywords specific to your location and specialty so that people can easily find your business in a search engine. Consider a listing on a Yellow Pages site like Yahoo Local or cost-per-click advertising like Google AdWords, which only charges you for actual clicks or leads for your advertising. Buy space associated with cheaper, less common terms than general words, which are expensive and competitive. Join an online networking community or start a blog to expand your business' Web presence. E-mail newsletters are also a great way to keep customers updated on new products/services without paying printing costs.
Need more low-cost alternatives for marketing and advertising your business? Check out these dirt-cheap options:
For $10 or under, you can:
- Provide a gift certificate to a charity sponsoring a fund-raising event and get your name recognized in the program for $10.
- Send a promotional package to a prospect by overnight mail for $9.95.
- Furnish a customer with one month of free e-mail he can use to contact you for $8.95.
- Give a valued customer a ticket to a local sporting event for $8 or present a box of chocolates to someone who recently placed an order for $5.
For under $5, you can:
- Set out a plate of gourmet cookies for customers who visit you for $3.49.
- Record a tape describing your business and products and send it to someone who is thinking about buying for $3.50.
- Give a potted plant to a prospect's secretary for $2.99.
- Blow up a favorite advertisement into a poster for $1.75.
For under $1, you can:
- Create a table tent that can be strategically placed at a luncheon or trade show for 75 cents.
- Provide an important customer with a marketing calendar noting key product and shipping dates for 49 cents.
- Purchase and send a local postcard to a long-distance customer just to let him know you're thinking of him or her for 45 cents.
- Enclose a product circular with an invoice for 5 cents.
