Here are some low-cost marketing tips every small business owner can implement if they do not have a huge marketing budget. In these tough economic times everyone needs to watch their bottom line, and making prudent decisions on how to spend your marketing dollars effectively is absolutely essential.
The five marketing tips are: update your business card, make a conscious effort to network, interview your current customers, announce something new, and say "thank you."
Update your business card
When was the last time you updated your business card? Think about it as a "remodeling project" for your business. If for any other reason updating your business card will give you the opportunity to contact everyone in your database to send them your new card (see more about announcing something new below)
What does your current business card lack? Is all your contact information correct? Do you have your website listed? Do you offer any kind of unique call-to-action on your card that would make someone interested in following up with you?
Do you have a photo or graphic on your card? It is commonly agreed upon that a photo or interesting graphic will go a long way in helping your potential contact connect with you. This is a low cost marketing tip because you can get 500 full-color business cards for under $75 through many of the on-line printers who specialize in this service. Make sure after you have these new cards created that you use them. Cards in a box serve no purpose. Get them into the hands of current customers and prospects.
Make a conscious effort to network
The most effective form of marketing is word-of-mouth or referral marketing. And one of the main ways to generate referrals is through networking.
This marketing tip involves making a new commitment or increased effort in the area of networking with other business owners. This can be accomplished through joining a formal business networking group in your area, or simply making an effort to circulate at local civic functions (Rotary, Lions Club, etc.)
A word of caution though, networking does take time and will not necessarily get you immediate results. It also is important to have an active networking attitude in which you "give to get." Make sure you help others achieve their success by offering them referrals as well.
Interview your current customers
When was the last time you spoke to your customers and were not trying to sell them something? Most people would rather be listened to instead of spoken to. Perhaps you have heard the old saying that we were given two ears and one mouth for a reason. Now use them in proportion!
This marketing tip is simply something you should put in practice on an on-going basis. Ask your best customers out for lunch, or just spend some time in their office interviewing them about what is going on in their business. Find out about their industry, their sales efforts, if they have any new staff, or any other thing they want to talk about. Be all ears. An amazing thing will happen when you listen. With enough open-ended questions you will quickly find out about what their current needs are and where there might be opportunities for you to satisfy some of their needs.
Resist the temptation to sell on the spot, but rather follow up at a later time by saying something like, "you know when we were meeting you said..." First, this will impress them that you are a good listener and secondly, will give you the basis to offer a solution to one of their needs.
Announce something new
Everyone likes new things. In fact, the word "new" is one of the most effective advertising terms. When was the last time you announced something new at your company?
By creating something new you have any excuse to contact all of your past customers and prospects. Maybe it is a new product or service. Maybe it is even a new business card (see the first marketing tip above). Maybe it is a new hire at your business.
Scale your announcement efforts based on what you new thing is by the media tools you choose to launch it with. Perhaps it is as simple as making a phone call or mailing out a letter. Or you might roll out something new with a press release, special party, or a paid media campaign.
Say "thank you"
The final marketing tip comes at the end of your selling cycle. It is simply a "thank you" to your customers for doing business with you. This does not cost much at all and is probably one of the most powerful and over-looked gestures a company can make.
Send a follow-up thank you card or small gift when someone purchases something from you. Leave a voice mail message or even a simple hand written note. By saying "thank you" makes your customer feel valued and will give you good will for future business with them.
These five marketing tips: update your business card, make a conscious effort to network, interview your current customers, announce something new, and say "thank you" are all effective ways to market your business without spending large amounts of money. Try even a few of these and you will be surprised at the results.
To receive more marketing tips check out the resources at http://www.CompanyMarketing.co.
John F. Hunt is author of "The Do-It-Yourself Marketing Handbook: How Anyone Can Learn to be a Great Marketer"
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