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Low cost marketing for your small business

phonebeinghungup19146379.jpgMany small business owners, who are facing the challenge of making their working capital go further, often decide to cut their marketing budget. This is serious and can be a fatal mistake for your business. Before cutting your marketing budget, you must consider this-if no one knows about your business, how will they know they need your product or service?Even when the marketing the dollars are few and far between, savvy small business owners are finding low cost ways to market their business.

You may be left wondering if there are ways to market your business that will not cost you a fortune. But the truth is that by using a little creativity and planning you can get the word out without driving your company into a financial black hole. There is no denying that most marketing does take money, but there are some low-cost and no-cost options that you can put into action, that will help you to get the word out about your products and service. However, it is important to keep in mind that while these ideas will not cost you a lot of money, they will cost you time, so prepare for that.

The key to being successful in marketing (no matter what your budget is), is to understand exactly who your target market is, and what the best marketing strategy is to reach them. This becomes even more important if your marketing dollars are limited, since you don't want to waste a single dollar, on any marketing that is not going to be effective. Effective marketing can be both cost and time effective as well.So once you have clearly determine who your target market is, here are some low costs marketing ideas, for your small business-

  • Never miss a chance to network-Make sure that you attend Chamber of Commerce meetings, business alliance meetings, and other organizational meetings that will be attracting your "ideal" client. Gather business cards, from as many people as you can.After getting these business cards, then you begin to phone and email to follow up. Remember that you should do this immediately while you are still fresh in their mind. If they cannot use your services, ask them if they know of someone who can, and get their contact information. In addition, at these public meetings, you should make a commitment to say something that could be useful, to those that are attending. This is a great way to not only share you knowledge, and help others, but it also puts you in the eye of those who could use your services.

  • Create a "useful" handout-This is a handout that when given to a recipient they keep because it has value. This is an integral part of establishing a relationship with a potential customer. When you offer them something of value, they are more inclined to be interested in whatever else (products or services), that you may be offering. Just make sure that you include your name, phone number, email address, website information and your 30 second commercial that tells the recipient about your business.

  • Become collaborative-A great way to increase your marketing power is to find colleagues and business associates, whose business compliments yours and do joint promotions. Many times small businesses can pool their resources not only for marketing, but purchasing and other aspects of running a business.

  • Write letters to editors of local newspapers and business publications-Remember that you need to make them interesting and newsworthy. You will be surprised at how often a good letter will get printed. Make sure to include your contact information and website address.

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