On A Tight Marketing Budget?
Are you on a tight marketing budget? What can you do about poor sales and struggles to find a way to make your name heard in your industry? It is not always the easiest thing to convince people to buy your products, especially if you have a hard time getting the money you need to market to the customers in the first place. What can you do if you are on a tighter marketing budget? How can you market and still save money? Here are some effective methods we use in order to market on a tighter budget.
Tip # 1 - Free marketing
Never discredit how nice it can be to use social media and other free marketing tools to your advantage. You will be able to do a lot when you have an online presence that was created for free. You can start with the use of social media and then move around from there. Social media is great as you get to reach out to a global audience for free. In just seconds the information you post can be all over the world and will help to expose your small business to customers that you would not be able to reach in any other way. Look for other programs and methods that you can use in order to market the business without needing to spend a great deal of money to do so.
Tip # 2 - Niche marketing
Another way to gain money and market is by finding your niche market and to properly market to them. When you find the right people to market to, it makes it simple to gain money from them. Use your customers surveys and market research tools to help you find out where your niche market is so that you can start sending them promotional materials. If you have a solid niche market, you will find that it is pretty easy for you to generate a nice amount of sales from them and to be able to count on these sales when you are in need of quick cash.
Tip # 3 - Referrals
To find a new market to work with, ask your existing customers for some customer referrals. Referrals are great as they will be able to help you find new people to work with but they really allow you to understand how to expand without needing to pay market research firms thousands of dollars to come up with contacts for you. With referrals you are able to have solid leads as your existing customers will end up telling others about your company and when they should expect a phone call from your company. This way the person is ready and waiting for a call so you can get in touch with them and to make an impact. Just know that you need to give your existing customers a discount or something amazing in return for the names of their contacts that they are willingly turning over to you.
Tip # 4 - Partnership
Can you rely on a partnership with another company? This will be great in getting new customers as you can broadcast the company to a new audience based on their name. The two companies will help each other based on the reputations that you have along with your ability to focus on making new customers interested in what you have for sale. Work hard to make the difference with a partnership that shows you have a good customer base that can support the other company you are working with. It is important that you have something of value to give to the other company if you expect them to work with you and help you find new customers.