Marketing For Small Business: How To Market On A Small Budget
You are a small business and you only have so many dollars you can spend on advertising. The first step is to sit down and create a strategy to maximize each penny spent. You can write off TV and radio advertising, along with fancy brochures and websites with all the bells and whistles for now. These items will take a huge chunk out of your advertising budget with only limited results.
Now that we have said what is not feasible, you are left wondering just what you can do. It is hard at first to get people to see that the glitz and glamour of an expensive ad campaign does not always mean that you will have increased sales activity. The trick is to make every dollar pay for its use. If you want to know how to make the small advertising budget go further read on.
1. Know your target.
Knowing the types of people that will most likely buy your product or service will help you to target only them. the target needs to see the message at least 7 different times in order to trigger a buying response. An expensive campaign will not allow you to get the exposure needed before your funds run out.
2. Use more than one avenue to market your good or service.
Prospects are everywhere and the more places they see your ad the better their opinion of your business grows. When you are in the paper or on a brochure at a seminar or even on a social media page this gives the prospect the chance to recognize you as a brand.
3. Watch what others are doing
You can make great strides with your dollar by using the power of someone else’s campaign. This is called piggybacking and can be a smart move if planned correctly.
4. Forget mass appeal.
Tailor your marketing campaign specifically to the clientele you wish to reach. If you were selling adult diapers at a discount you would not waste time and money marketing in areas where no senior citizens hang out.
5. Get free publicity by being in the right place at the right time.
Getting your name mentioned on the news or radio program for free is just as good as having your own campaign. It is the best way is to do a charitable act or other good deed. You get your named mentioned and forever linked with that deed. If the local homeless shelter needs blankets and you buy 100, you will get great recognition from the media. Also others who support that shelter will recognize your name when looking for that particular item.
Finally never let the goodwill of word of mouth get away from you. If a customer has had a great experience dealing with your business they will tell others and so on. This type of advertising is worth its weight in gold. Marketing on a budget is all about creativity and you can be really creative with a shoestring.
Pat Lindle is a small business owner and wine broker living in Phoenix, AZ. Pat utilizes the newest cutting edge business techniques and technologies to help wine aficionados buy wine online at his favorite online wine store.