Tips for Effectively Marketing a Small Business on a Limited Budget
Here are some Powerful and Helpful Tips of Effectively Marketing a Small Business on a Limited Budget.
Important Note: a limited budget is still a budget. You're going to need to spend some money, count on it.
If you are starting a new business, consider this epigram:
A Failure to Plan is a Plan to Fail
Are you in your mind to start a new business or just out of your mind? Find a few smart people that you trust and talk to them about your business idea and set up a time to discuss your business ideas with them.
Take the time to write down the questions that you want to ask and be prepared to write down their answers when you meet with them.
Consider Hiring an Expert Consultant
It would be better to spend a little money to get an expert's opinion than spend a lot of money trying to make a business work that won't.
You can request a marketing consultation via the website.
We’ve got some business startup packages posted on the website.
Have You Developed Your Business Plan?
The bigger the business, the more elaborate and detailed the business plan will need to be. Start with a simple business plan.
Make Marketing Money
If you don't have ANY money to market, then go and make some marketing money. If you have ever heard that it "takes money to make money" you have heard the truth. Another truth is the more money that you make, the easier it is to make more money.
There is a parable of Jesus in the New Testament that I used to struggle with understanding. It is known as the “Parable of the Talents” (Matthew 25:14-30) and in it Jesus tells the story of a “master” who gives some money (talents) to his servants and went on a trip. When he returned, he requested an accounting of what they did with his money. Two of them doubled his money by investing in the marketplace and one of them “buried” his money. This person was afraid of investing it and losing it and then having his “master” angry with him.
Well, the “burier” did make his boss angry, because he did not get a return on his investment. So, he took this guy’s little money away from him and gave it to the guy that had ten times as much.
Why? Because the story is about how business works. People in business want to get a return on their investments. The guy with the most money knew how to make money, so he got more and the “master” made more this way.
It’s just a story about how things work in business and it confirms the truth that the more money you make the easier it is to make more money.
And the reason is simply this:
You know how to make money.
If you have no budget for marketing your business, you don't have a business, you've got a hobby. If you can find anything that is FREE that markets a small business well, then you should package it and start selling it yourself!
What about Word of Mouth Marketing?
The longer you have been in business the easier it is to get more word of mouth referrals. It is practically impossible to get this at first because no one knows your business.
The way to getting leads without paying for advertising is to get referrals. There are a few ways to create shortcuts to word-of-mouth marketing, and they are introduced below. Keep reading.
Minimal Marketing Media
If you are in business, you'll need the business basics. You'll need a website (on your own domain) and some business cards that have your website address printed on them.
Make a Good First Impression
- First impressions are lasting impressions.
- You'll never get a second chance to make a first impression.
- You website should be nice, but it does not have to be fancy and don't distribute cheap business cards. I'd spend a little bit of money to get professional business cards and a simple, professional website.
Bigfoot.Marketing's Starter Package
Bigfoot.Marketing provides a new business package. You can get these things cheaper from other places. I don't think you'll get a better value, however.
Learn More About The Bigfoot.Marketing Business Startup Package by vising bigfoot. Marketing.
Friends & Family First
If you don't have friends, I would work on creating some friendships. If you are "friendly" you will always have friends. We make friends by being a friend. I think we should embrace this philosophy, "It is better to be a friend than it is to have a friend."
Think of it in this way: we should "LOVE" our friends and "USE" things. You won't get far in business trying this the other way around: "USING" people and "LOVING" things.
Let's hope that whatever family you have will LOVE you and be interested in your life and therefore be interested in your business venture(s).
Ask your friends and family to help you get the word out about your business. Make sure they understand what you do so they can effectively refer you. Give them some of your business cards that they can share with others.
Be sure and have business pages for the social media platforms that make sense with your target and make it easy for your friends and family to share your business website socially.
Share Your Website!
You cannot do whatever you want with Facebook, Instagram, Youtube, or any other platform. You can only do what they allow and they can change their terms anytime. Don’t put all your eggs in their baskets!
Get that “Share My Site” icon on your WEBSITE so when your friends and family share your business with their “followers”, it puts a link back to your website.
It is only on your own website that you will be able to “put your best foot forward” and you’ll have the best opportunity to attract and convert new clients on your own website.
Create a Business Booster Deal
You might create some type of "friends and family" offer. Of course, offer it to them and ask them to share this "friends and family" offer wither others in their circles. Tell them to "mention my name" to get the special "friends and family" deal.
Make it clear that you are doing promotion as a mechanism for outreach—and it should be limited (in time or in the number that you will offer). Offers that are not somehow limited in their availability will not create the urgency that you want.
Build Business Buddies
Try and find others in businesses that would make good referrals partners. In other words, you could refer them and they can refer you. These will be business that would SHARE the same TARGET AUDIENCE as your business.
People that would likely purchase your products and/or services would also likely purchase the products and/or services of your business buddies.
Business buddies are also sometimes referred to as "power partners" or simply "referrals partners." There are several networking groups that focus on developing such business partnering strategies.
Trade Time & Talent
If you are just getting started, consider trading your time and talent (offer your service and/or time for FREE or deeply discounted) in order to get a business review that you can post on your site.
Be sure and require that the "trader" has agreed to provide you with an honest review and will mention the work you have provided as a social media post with a link to your website.
This will also help you get your portfolio started, so others can "see" what you have done. These reviews will help you win the trust of others that do now know you.
Stretch Social Systems
Social media platforms provide a lot of potential exposure. They will require an investment of your time. The truth is, your TIME is your most valuable resource. If you've got money, I'd use that instead of my time when I have a choice.
You will necessarily have to spend time marketing and managing your business, but people that tell you "it will only cost you your time" obviously don't value time the way that I do. My time is more precious to me than my money.
I can ALWAYS make more money.
I can NEVER create more time.
Offer Your Advice and Expertise Freely
Don't try to market too much via these social systems. Offer your expertise as a mechanism for creating relationships. Relationships will result in sales eventually.
Start relationships and cultivate them.
If you are using Facebook, find some groups that interest you and engage with them. Be sure and follow the group's rules carefully.