A solid marketing strategy is important in any business. But, when your business is new and every advertising dollar counts, it is even more critical to invest in advertising that shows immediate results while being very cost effective. There are many avenues in which to invest. Below are some ideas that have proven to be inexpensive ways to market new or small business.
- Social Media
While social media in itself is not sufficient, using Twitter and Facebook and other social media sites to market your business has its place. No matter where someone hears your name, they will turn to the Internet to find you. It makes good sense that when they turn to the World Wide Web; you make it a memorable experience. There are plenty of “Do it yourself” website tools and programs that are free or inexpensive and some are quite good. Remember though, in this day and age any teenager can put together a website. So take the time to make sure yours looks professional and keep the information up to date. Once you have gone line, do not neglect your site. Emails and inquiries should be answered promptly and the site must appear well maintained in order to be effective.
Blog often and pay attention to your SEO content as this will determine your position on Google searches.
- Targeting and remarketing
In order to make your advertising budget work, you must use it to target the right clients or customers. If there is a particular area of the city that you want to reach, you need a plan that zones in on that area. Demographics to help you create your plan of action will include the age of the customers, income levels, professions and home ownership. Once your target has been established the data must be maintained and used again. Of course over time this demographic plan will expand or be adjusted.
While this information can be obtained on your own, there are companies who specialize in establishing a target audience for businesses. This is a cost effective way to go as it will allow you to use your energy and time to actually call on the clients you find. Leaflet drops are the fastest way to approach the new demographically determined area. Putting your information in the hands of those who need it is priceless and a very smart way to market.
- Watch your competition
In order to be bigger and better than your competition, you must know what they are doing. Though you may not see the bottom line, you can easily judge if a strategy is working for them. Businesses make it a point to know what the next guy is trying. Stick with tried and true marketing plans, but be open to expanding and including plans your competitor is using. Let him spend his money to see if something will work. If you see him enjoying success, you can incorporate the plan. Be aware that it is not just about how much new business he is drawing. You must also consider the cost factor. If he is pulling in 2 new clients a month, but spending a fortune on advertising; he will not succeed. Approach but approach with caution.
- Use local directories
Many companies today refuse to list their business information in the telephone directory. Telephone books are something we used with our rotary phones. However, in order to be found you must be listed. This is how people will find you when they “Google” your company!
- Make Your Customer an Offer
Communicate with your customers. Listen to them. They have a completely different perspective than you.
Each customer you do business with, knows about 200 people. Offer your customer a discount by recommending your service to their friends and family. If they are happy with your product or service, a coupon for a discounted price will be worth trying for. You could offer a discount coupon to the customer they bring in as well. This makes the customer feel they are doing their friend a favor by getting them a great deal.
If you need more information on marketing; a good place to visit is Letter Box Media.