If you just take a look around, you’ll see a ton of small business marketing tips you can use. However, the most important for small business owners will be advice on how to make the most out of a limited budget. Small business owners know that they can’t market and run their business the same way a medium or big sized business can. So here are some tips that you can take to the bank.
1. Focus on building relationships through as many mediums as possible. Send out email newsletters, interact with your prospects and customers in your blog, have a presence on social media sites, and even use postcard marketing. People are doing business they feel they can relate to and if feel they received some kind of value of from you, they’ll likely make the investment.
2. Build referral systems to help leverage your existing prospects and customers. There are many ways to bring in more people to your business through referrals. There are affiliate marketing programs online, customer rewards, contests, and more. The best part of running referral systems is that they are very inexpensive and there are many ways to entice people to send you more customers.
3. Invest in Internet marketing if you haven’t already. The Internet can be one of the most cost effective ways to market your business. Rather than trying to do everything on the Internet, focus on one or two ways to market online and try to get the most out of that strategy. The big mistake many businesses make is trying to do everything online.
4. Joint ventures work well if you have some leverage and don’t have a lot of money to work with. Try finding businesses that are related to yours but not in direct competition. You can do simple things such as referring your businesses to each other’s customer list. You can also cross promote products and services. There are many ways you can work with other businesses. It’s all about being creative here and figuring out how to make it worthwhile for both parties.
5. Advertise small then grow from that. Don’t try to invest a huge sum of money on an advertising or marketing campaign. Test out your campaigns smalls and see if it works out. If it does, you can start scaling up from the results. If not, you can figure out what’s wrong and if it’s worth spending more money. Too many businesses spend a big budget from the get go rather than testing.
6. Set up follow up systems and follow up marketing strategies. They say that most people purchase after 7 contacts but most businesses give up by the third or even after the first. You want to keep following up in as many ways as possible and through multiple mediums. That will increase your ROI for whatever campaign you are running.
So those are some of the best small business marketing tips you can use to maximize your dollar. On a small budget, the small actions make the big difference. There are many ways that small businesses can work around their weaknesses. All it takes is to be as creative as possible and look at things from multiple angles.