Let’s face it; today’s economy is tight! This makes it increasingly difficult for small businesses to allocate the funds that are necessary to advertise. In fact, marketing budgets are typically ALWAYS the first to be cut when cash flow issues and/or concerns arise.
The truth of the matter is, when times are considered to be “tough” this is the time when your brand SHOULD be marketed! It is a known fact that an economic downturn will result in less funds at the disposal of clients, customers, and other consumers. When these individuals ARE ready to make a purchase, you need your brand to be in front of them!
This means that you must market your business on a consistent basis! If you are operating on a very low budget, continue reading! Here, you will be introduced to 3 super cheap ways to market your business – even in the toughest of times, money-wise.
Method #1: Build Relationships
Any business professional will tell you that it is cheaper to keep a customer than to get a new customer. This is why it is imperative that you place an emphasis on building relationships with those that are part of your customer base. You may launch an email campaign, start a blog, or even create pages on social media platforms in order to connect with your customers and develop solid relationships with them.
If you build relationships with your customers, it is quite likely that those individuals will pass along information about your business. Essentially, this is free advertising!
Method #2: Place an Emphasis on Referrals
If you are attempting to market your business on a budget, it is imperative that you ask for referrals. While most people will not, openly, offer information on referrals; they will likely offer referrals if they are asked. By obtaining new referrals, you will be able to connect to consumers that may take an interest in the products and/or services that you offer! In fact, referrals could result in a vast array of opportunities for your business!
Method #3: Give Something Away
Now, the whole point of a business is profits; however, did you know that you have the potential to receive a lot of profits by giving something away? Yes, it is true! Consumers that have the unique ability to experience the services and/or products that you have for free will be more willing to make an investment into your business at a later date.
You may provide a free informational product, a free trial, or any other type of “freebie”. You are sure to find that this is a wonderful and easy method of attracting new customers!