Inexpensive ways to market your business
To many business owners start to rely on one or two traditional marketing strategies to attract new business. This can be a mistake since marketing can get old and commonplace rather easily. Savvy business owners will be constantly looking into new marketing ideas and determining which ones will work best for their business. There is a multitude of ways to drive new business to your door. Here are a few:
Referrals-This marketing strategy is one of the easiest ways to generating new business leads. The key here is to ensure that you take a proactive approach, rather than a passive one. Instead of assuming that a satisfied client will refer someone to you, you need to ask for that referral. This is best done at the point of sale, when your customer is the happiest. You want to tell your customers who your ideal client is, and ask for their help in finding these types of clients. You need to get over your hesitancy about this and remember that it is not pushy, it's not begging, and it helps generate new leads.
Networking-This is perhaps the most commonly used approach by small business owners. However, it is often poorly executed, by many people who attend a networking function and take the wrong approach by trying to meet as many people as they can.You should not bounce from person to person; handing out business cards like it is a competition. It is important to know that the most effective way to network is to cultivate relationships, and give referrals to other members first.
Newsletters-This is a very powerful marketing strategy to keep your name, in front of your customers and prospects. You should use your newsletter to provide key insight into business challenges, and then offer solutions to them. Help your prospects and customers solve their problems, by showing that what you offer is the solution. There are many newsletters that are nothing more than advertising, so you need to be sure to provide valuable information to your customer. Keep in mind that while it is less expensive to send a newsletter electronically, you can issue it in paper format.
Writing-This is often an under-utilized marketing strategy, and yet it is an excellent way to become recognized as an industry expert. Remember that every industry has trade magazines, and most are eager, for good content. The Internet is also filled with website looking for material to send to their subscribers and customers. Many business owners report that this marketing strategy alone has helped drive more traffic to their websites, than anything else. You can also begin a blog about your company, its products or service, or anything else that relates to what you do.It is sometimes challenging to come up with ideas, but the investment of time and effort is definitely worth it.
Give out free information and/or samples-Many business owners overlook the suggestion of giving information to interested prospects. Remember that you do not need to give away all the information that is relevant to your product or service. Instead, you can offer information that will help your target market, with their problems. You can also offer potential clients a sample of your product or service, in order to pique their interest.
Offer a guarantee-This is one of the easiest ways to market since a concern many people have when changing suppliers, is the risk associated with the change. Keep in mind that hey may not be completely satisfied with their existing supplier, but the risk of choosing a supplier who may be worse, can prevent them from changing. Eliminate this concern and offer a guarantee, and you may find yourself with a lot more customers.