Marketing is an essential function of any business. Tactics vary, messages vary, and budget varies, but all businesses must market in some way. Some businesses have millions to spend on marketing and some have just hundreds or maybe thousands. If you have a very limited budget, consider these four low-cost or no-cost ideas for effectively marketing your business.
- Business cards – when working with limited funds, business cards may be the only print marketing you need. Customers and prospects will expect a business card from you, and not having one makes you appear unprofessional. If your business cards list your Website, which clearly articulates your value proposition, you may be able to delay investing in costly printed brochures or marketing kits.
- Clear, effective Website – another must-have today is a professional Website. Most of us have “friends of friends” who can do your Website on the side, but unless that person is a professional Web developer, that may not be the best solution. With limited budget for marketing, your Website must be the best professional representation of your company because it is the place where prospective clients are going to learn more about you. It’s not enough to just have a site – take the time and budget to make sure that your Website is professional and supports your overall business and marketing plan.
- Social media strategy – if your customers are using social media, then you should be too. The trick is to use it effectively. It’s not effective to just set up a Facebook page and/or Twitter account, and start talking about your business and posting promotional messages. Check out “The Basics of Social Media” to learn how to truly engage using social media.
- Referrals – one of the best ways to gain new customers is by asking your current customers for referrals. Most of your customers will know at least one other person who could benefit from your services, so start asking for the referral. But, remember to ask at an appropriate time and in an appropriate way.
Even though these are low or no cost options in terms of dollars and cents, keep in mind that all will involve the cost of your time. In addition to a financial budget, make sure you create and stick to a time budget. If you spend all of your time working on your business, you won’t be left with any time to work in your business. Setting your goals and timelines in advance will help you balance your marketing activities with the rest of your business activities.
[Image courtesy of greekgod]