Monday, 16 July 2007

10 Ways To Market Your Business On A Low Budget

Home based startup businesses tend to be low on funds as a result marketing comes low on their list of priorities.This is a very important issue when one considers the role of marketing in the success of a business.Marketing is what gets the product or service to the target market, promotes it, influences the market response to the product and enhances sales.
The prime objective of marketing is to establish what your clients' expect your service or
product to deliver, exceed their expectations and building a reputation based on exceeding their
expectations.In this article we would look at 10 ways to achieve this objective.

1. Write an article about your business. An article about your business will bring you a lot of
publicity as well as give people an insight into the kind of business you are running.For example
if you are running an ink cartridge recycling business an article about your business and how it
supports recycling and saves used ink cartridges from being dumped into land fills an
environmentally friendly option will bring to people's attention the ethics behind your business
the need to support your business because it is enviromentally friendly.You can then post this
article on your website or blog if you have one.Alternatively you could write the article for
your local magazine.

2.Offer your assitance to your local community by offering to take part in fundraising activities
such as sponsored activities like parachute jumps,marathons and the like.You could offer to teach a skill you know ,for example if you know how to build websites you could teach a class of people from your community .This way you give to your community by providing a valuable service and you gain by getting customers through word of mouth referrals.

3.Contests,Raffles and DrawingsContess,Raffles and Drawings can be used to market your business.A list of all contestants names and addresses or email addresses are taken as part of the registeration process with permission to contact the contestants with information on your service or product.It helps to link the contest to a local event. This form of marketing is ideal for businesses such as restaurants or those that have high traffic.It is a great way to build a database of potential customers.

4. Use small low priced ads in your local newspaper as opposed to large expensive full page ads
in a national newspaper . Instead of a single large ad in the local paper, try several smaller
ads in local shoppers papers.Make use of the classifieds section of your local paper. These can
sometimes give you more value for money than one large single ad.

5. Use creative ways of drawing attention to your business. This could vary from giving out
flyers with information about your business to fridge magnets bearing your company name logo and phone number.Everyone has to go to the fridge at some point.

6.Business Cards
A business card is a very good marketing tool that is very often not used to its maximum
potential.The front and reverse of the business card can be used to convey important information about your business such as special dates and contact numbers.A business card could be attached to all your correspondence,this will help the recepients of your correspondence to have you in mind. If you are given a business card ensure that the information on the card is stored in your contacts file and send them a short note about 48hours after meeting them to ensure your meeting is still fresh in their mind.

7. Always remember to show the customer appreciation for their custom.Express your gratitude by saying "Thank You".This may be done by writing a letter or making a phone call.It is important that the customer knows that you appreciate them spending their money on your service or product.Customers who feel appreciated are more likely to send you referrals.

8. Joint Venture Promotion Collaborate with another company who has products or services that compliment yours and promote each others products or services.For example if you have a business that sells printers you could collaborate with a business that sells paper and ink.They would then promote your printers alongside their ink and paper whilst you promote their ink and paper alongside your printers.The possibilities with this form of marketing are endless.

9. Bonus Offers. Bonus offers can be used to market your business by arranging special offers with businesses who want to share your market.This is achieved by giving the customer a bonus packet with the various offers from the other businesses when they buy a minimum amount.The other vendors gain exposure,whilst you get something extra to offer you customers and the customers get great value for purchase. For a bonus offer to be successful it is paramount that all participating businesses are committed to the offer.

10. Associations Associations related to your market are a great marketing resource.An association provides the opportunity to network, make presentations and publications. Networking ,presentation and publications all increase visibility and consequently publicity
which is a great way to market your business. In some associations your visibility may be increased by using the following tools:
-Search Engine listings
-Links to you website
-Networking opportunities
-Business referrals
-Special events
-Education seminars
-Business directories

Remember persistance is all that matters goodbye and good luck.