One of the most common frustrations I hear from small business owners is trouble with spreading the word about their business in a cost-effective way.
Sure, there are a number of great ways to market your business if money were no object. Billboards, bus-stops, and local newspaper ads come to mind. But what are the low-cost, high-return marketing vehicles for people trying to boot-strap their way to success?
Here are 9 cost-effective marketing strategies that will help you spread the word about your business:
- Facebook fan page. Facebook is a great platform to drive traffic to your website, especially if you host events of any kind.
- Blog. A blog is one of the fastest ways to become a recognized expert in your niche. Maybe you are a consultant that just opened a new practice. By posting relevant, high-quality blog posts, you can garner trust, respect, and ultimately, new clients.
- Twitter. Twitter is great tool for small business owners to monitor and engage with their market. What are people saying about your product/service? Are people spreading the word about you? Are you remarkable enough for someone to tweet about your product/service?
- Press Release. If you have a product/service or story worth talking about, write up a quick piece and submit it to local newspapers. Maybe your product/service will be featured.
- Co-op advertising & buddy marketing. Your purchasing power increases when you pool money/resources with others. If you and a few other business owners go in together, the cost for advertising will go way down.
- Piggyback an event. Research local events and contact the organizers to see if you can set up a booth, table, or even hand out flyers.
- Bartering. Often companies are willing to accept payment in the form of an exchange of products/services instead of cash. If you're strapped for cash, try offering an exchange of services/products.
- Mail outs. Include a coupon, discount, and/or brochure in all your outgoing mail. Direct mail can be a costly marketing strategy, but if you are already doing mailings, it can't hurt to add a coupon or discount flyer to anything that goes out the door.
- Seminars/open house. Events are a great way to get potential customers in the door and start building relationships. Offer a free seminar on a topic of interest or offer to host a mixer for a local networking group or chamber of commerce.
Have you had successes and/or failures with any of these strategies? Leave your thoughts in the comments below.
