Low Cost Marketing Solutions For Small Business
In today’s small business environment you have to market your company in order to succeed. According to the small business administration you should invest up to 7% of your sales back into marketing. I know 7% is a lot, but we are talking about growing your company, your livelihood, your life. I also know that funds are tight, so here are 10 low cost marketing solutions for your small business.
Blogging
By now you have heard about blogging and how important it is for your small business. I am going to tell you again blogging for your business is extremely important. According to HubSpot, businesses that blog generate 55% more traffic than businesses that do not blog. The best part about blogging is it is free.
Email Marketing
Email marketing is alive and well, don’t let anyone tell you otherwise. Recent studies have shown that email marketing generates a 4,600% return on investment. Not too bad. There are plenty of cost effective email marketing platforms that you can take advantage of, many cost under $10 per month. So start to build your email list and start generating more revenue.
Video
Video can be intimidating, but if you are comfortable in front of a camera it can become a very cost effective marketing solution. DIY video is becoming easier to produce. You can buy an entry level camera and cheap lighting for around $1,500 or less. Videos increase people’s understanding of your product or service by 74%, so it is worth giving it a shot.
In today’s small business environment you have to market your company in order to succeed. According to the small business administration you should invest up to 7% of your sales back into marketing. I know 7% is a lot, but we are talking about growing your company, your livelihood, your life. I also know that funds are tight, so here are 10 low cost marketing solutions for your small business.
Blogging
By now you have heard about blogging and how important it is for your small business. I am going to tell you again blogging for your business is extremely important. According to HubSpot, businesses that blog generate 55% more traffic than businesses that do not blog. The best part about blogging is it is free.
Email Marketing
Email marketing is alive and well, don’t let anyone tell you otherwise. Recent studies have shown that email marketing generates a 4,600% return on investment. Not too bad. There are plenty of cost effective email marketing platforms that you can take advantage of, many cost under $10 per month. So start to build your email list and start generating more revenue.
Video
Video can be intimidating, but if you are comfortable in front of a camera it can become a very cost effective marketing solution. DIY video is becoming easier to produce. You can buy an entry level camera and cheap lighting for around $1,500 or less. Videos increase people’s understanding of your product or service by 74%, so it is worth giving it a shot.
Social Media
It is not too late to put your social media marketing strategy together. 1 in 4 people are using social media to share, network, and find products/services. It is safe to say that your customers are also on Facebook, Twitter, or any of the other social media platform. Start to engage with your customers outside your store and get social.
Social Media Advertising
Set aside $25 – $50 per month and advertise to a targeted audience. Social media give your company the ability to target potential clients by zip code, gender, interests, and so much more. In order to get the very most out of your ad spend, give something away for free. This will help create a buzz and promote social sharing. The free offer could be as little as an eBook or free checklist.
Create An Online Contest
People love to get stuff for free. Create buzz by giving away free products or services. There will be a cost for the winner, but the amount of leads you can generate will offset your expense. Make sure to embed the contest on your website and generate traffic to your site.
Customer Referral Program
You current customers are your best source of new business. Encourage your current customer base to refer additional customers to your business by creating a program that rewards them anytime a new customer mentions their name. For example, an auto body shop can give away a free oil change to customers that have referred 5 new customers to the auto shop. It is a low cost give away to gain 5 new customers. It will also keep your current customer base coming back.
Partnerships
Are there companies inside your industry that could act as a referral engine for your company? Establish a joint venture with them to continue to provide referrals to each other. For example. Punch In The Face Marketing has partnered with a local print shop to help generate contacts with local small business, in turn we send all of our printing to them. Partnerships can be very valuable, just make sure that the partnership benefits both parties involved.
Host An Event
Can you host a class or educational event that the community can benefit from? Host a local event to get more potential customers into your place of business. Post flyers at libraries and coffee shops promoting your event. Partnerships could also come in handy to promote your event. This will help people get to know where your office or store is located.
Join Your Local Chamber Of Commerce
Your local Chamber of Commerce is a great place to get to know people in your community. Your local Chamber of Commerce will hold networking events and help you get noticed in your local community. The cost is usually reasonable, depending on how big your business is. For example, Punch In The Face Marketing paid less than $300 to join for a year and the membership has led to many leads and connections. Your local Chamber has tons of resources available for you to use.
Conclusion – Low Cost Marketing Solutions For Small Business
Any small business marketing consultant will tell you how important marketing is to grow your company. The fact of the matter is, if you are not actively promoting and marketing your company your competition is. Use these low cost marketing solutions to grow your business.
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