How Do I Promote My Business on a Shoestring Budget?
By Latosha Johnson
I know from experience how anxious you feel when you
first start your business. Many entrepreneurs start with limited funds,
so you are probably wondering, "How in the world can I promote my
business without going broke in the process?" Here are some inexpensive
ways in accomplishing your goal on a "shoestring budget":
Directories: Congrats-You found the first method of promoting
your business! Anyone serious about being in business must get their
company listed in a business directory. How else are people going to
find out about you? When people are seeking a product or service they
head for the nearest directory in order to obtain the names of the
companies that sell what they need. You need to get listed in a
directory so people can associate your organization's name with that
product or service (i.e. market research with TargetStars).
Forums: Having a business will not do you any good if you are the
only one that knows about it! Forums are great places to meet people
you are hoping to gain as customers. Make pertinent comments that add
depth to ongoing discussions that will lead others to rely on your
knowledge as a resource. You must establish your credibility while
simultaneously promoting your business, but be careful not too
excessively self promote. In order to gain clients you have to find out
how your product or service will benefit the prospect and you cannot
gain this information if you are doing all the talking. You may be the
solution to the problem(s) they are experiencing, but unless the
prospect understands how you are the solution, you will not be able to
gain them as a client.
Be an author: Share your expertise with other people by writing
articles within your industry. Focus on giving tips that can help people
and not just promoting your business. People want to feel that they
chose your business-not forced. Let your industry knowledge do the
selling for you.
Newsletters: What better method is there to spread the word about
the article you just wrote? You are sure to get the word out about your
business and get clicks on your site by writing an exciting article
(sharing one will work too!) filled with tips people can use (again, it
should not be all about your business-subtly works wonders!) and then
placing the rest of the article on your website by including a "read
more" link directing the reader back to your website. When they are done
reading the articles that you have placed in your newsletter, they will
be more inclined to see what else you have to offer.
Discounts/ Referral Programs: People love a bargain-so give the
people what they want! Once you snag them as a customer they will tell
their friends because no one keeps a good service/product a secret!
Advertising a rewards program will give your customers even more
incentive to spread the word about your business. Remember, the key to
successfully growing your business is to simultaneously attract
and retain customers. Many people focus all their attention on
attracting new customers, but you cannot forget about the people who
played an integral role in getting your business off the ground. The
80/20 rule (sometimes referred to as Pareto Principle) is amazingly
accurate-80% of your revenue will come from 20% of your customers so it
would be in your organization's best interest to not ignore these people
just because you secured them as a client.
Implementing these 5 simple steps into your marketing mix will increase
your organization's visibility. It is not impossible to promote your
business on a "shoestring budget"-it just forces you to be creative!
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