Marketing tips for uncertain times

Five low-cost ideas to promote your business

Unless you have been living and working under a rock for the past few months, you know that we are facing a lot of uncertainty in our economic future. These times can be especially scary for those of us in the trenches—the small business owner. To help safe guard against decreasing sales, most of us are looking for ways to cut costs. For many, the marketing budget is the first area to be cut. While it makes sense to carefully watch how you spend those marketing dollars, you are making a mistake if you stop marketing all together.

Good marketing sets you apart in a crowded market place. It keeps you in front of your customer so they remember you when they are ready to buy. It is crucial to make sure that you are still around when times get better. But good marketing does not have to cost a lot of money. Read on for five ways you can market your business for little or no cost.

1. Get out and network

   Any event you attend is an opportunity to meet potential customers and most cost you nothing more than your time—plus a meal or drink. Look for networking opportunities through your local chamber (you usually don’t have to be a member to attend), online networking services like meetup.com or LinkedIn.com, or seminars presented by SCORE, SBDC, or trade groups. From my own personal experience, I can tell you that networking absolutely works. Six months ago I had almost no prospects and now I have more work than I can handle. My main source of marketing has been networking at groups, seminars, and events.

2. Ask for referrals

   The best source of business is a satisfied customer and it is easy to tap into that resource. Follow-up with past customers, either via phone or email, and ask how they are doing. Listen to their responses and see if you can somehow meet the needs they express. Who knows—they may need you right away. Even if they don’t, they will remember you in the future because you stayed in touch.

   Take it a step further and create a referral campaign. Send out a little something, a box of chocolates or movie tickets, as a thank you to those customers who you love working with. Ask them to pass the word to anyone who they think would benefit from your service. If you get a single sale, it will pay for the small amount you spent on the entire campaign.

   Resource: Check out Andy Sernovitz’s book Word of Mouth Marketing: How Smart Companies Get People Talking. He is an expert at getting people talking.

3. Write or present

   If your business is slowing down (and even if it is not), now is the perfect time to show your expertise through a well-written article or presentation. Choose a topic that is relevant to current events or especially difficult for your customers and offer a solution. This newsletter is a good example. You can also submit your article to local newspapers or trade publications. If you prefer public speaking, approach a local group related to your market and offer to speak at their event. You can even present on the web with your own webinar. The options are endless and it costs you little more than the time you put into creating the article or presentation.

   Resource: Michael Port offers great advice on both writing and presenting as marketing in his book Book Yourself Solid. It is a great resource if you need help getting started.

4. Make a killer offer

   Brainstorm to come up with something that you can offer to your customers that gives them a lot of value but does not cost you very much. I know a pest control person who offers free termite inspections. Since we live in Arizona (where there are only two types of houses: those with termites and those who will have termites), this is an awesome deal. When I request my free inspection, I get piece of mind. During the inspection, he gets the opportunity to show off his expertise and suggest other ways that he can help me—like getting rid of the ants that have infested my back yard. You can bet that I will tell my friends and neighbors about him, just like I am right now.

   Resource: If you need a great pest control guy, send me an email and I will put you in touch with him. He really has eliminated my ant infestation.

5. Get creative

   This tip is my favorite because I love thinking of unusual ways to promote businesses. Don’t be afraid to try something new. Just do it on a smaller scale to test its effectiveness. Or better yet try creating something yourself. My good friend, Eric Green, has a cosmetics line that he sells and wants to promote. To set himself apart, he gives out these cool buttons that have a mirror on the back. Every woman I give one to loves it! It is small enough to fit easily in a purse and reminds them about his cosmetics line ever time they use it. The real beauty is that Eric makes these buttons himself. He hired me to create a cool layout that he prints on his home printer, cuts out the templates, and makes the buttons using a machine he already owns. He has a very expensive looking promo piece that costs him next to nothing.

As you can see from these few examples, the possibilities are endless for promoting your business without spending a lot of money. If you are feeling overwhelmed by the options, pick one or two that really speak two you and start with those. If you need a little extra push, I can help you come up with an idea that is perfect for your business. Just give me a call at 480.219.9069 or send me an email. Good luck!