When starting a new venture or in growing a small business, entrepreneurs need to be creative in connecting with customers, building their brand and marketing their business.
Oftentimes with the small business owner or entrepreneur, advertising is not always a practical solution so they have to take a step back are evaluate how to spend their resources of both time and money when choosing an effective marketing strategy.
This week we asked the BizLaunch Community what they has been their most effective marketing strategies and where they would be investing most of their marketing resources this year?
Taking tips from the BizLaunch Blog and our new Facebook Page and we selected five comments from our community entrepreneurs to share.
Here are a few tips from the BizLaunch Community on how to market your small business effectively on a small budget.
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Network to get work
” When I have very little marketing dollars for my business I take advantage of networking opportunities, referrals and word of mouth.” – Susan Pereira Warburton
When the advertising budget isn’t looking promising, getting out of the office and engaging in face to face conversations with potential customers can be a great way of getting new business. Whether you find new clients, get referrals or improve your knowledge by connecting with other business owners.
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Ask for referrals
” Most of my resource investment will be in networking. I recently joined the Board of Trade and attend industry networking events. I also stay in touch with contacts in my database for referrals….and continually add to it for the future. I also find LinkedIn a great resource for making business connections.” – Sandy MacDonald
An opportunity many entrepreneurs overlook when approaching marketing is looking to their existing customers rather new customers for growth. Your satisfied customers are your best marketing, why not ask if they have any customers they know that could benefit from your services. Picking up the phone can often be the most effective marketing tool.
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Invest in great customer service
” I put all my efforts into providing great service – it’s not traditional marketing but my existing customers keep me very busy and new customers come to me regularly based on referrals and testimonials.” – Richard Garand
Instead of spending on advertising to gain new customers, invest resources in improving service levels for existing clients. In addition to the increase in wallet share of existing customers, satisfied customers will pass on the message to others and encourage word of mouth marketing.
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Build your brand as the expert
” Write, write and write until you are known to be the expert. Clients do not choose second best.” Danny Ng
Get out there and build your brand. Comment on industry blogs, take up as many speaking opportunities as possible, offer your time for media opportunities and write about matters that pertain to your industry.
Building your brand is an important and low-cost way of building up the credibility of your company if you have the time to invest. -
Get out there and sell
“I counter your fear of rejection and get out there and sell.” – Lydia Lao
Instead of investing in advertising gather up some courage and get out of the office and get selling. Often small business owners will spend a large percentage of their time and resources on activities that don’t directly relate to sales. In tough times, entrepreneurs need to evaluate where they are investing their time and get back to basics – the activities that generate revenue.
What are strategies are you using in your business to get the name out there and what tips would you give to other entrepreneurs?
Photo credit, Neon Bubble
{ 2 comments… read them below or add one }
Some giveaways can be cheap, can be green (check out this place Simply Green Solutions http://www.simplygreensolutions.com), and can act as mobile billboards that spread product/service awareness will allowing your brand to be a utility in a consumer's life – further deepening the relationship.
Maybe, discounts For Public Workers and family/friends with incentives to provide product Specific and Customer Service-Oriented Testimonials, therefore increasing Word of Mouth Referral Programs, Blogging/responding to blogs in relevant industries using Google Alerts, writing pertinent Press Releases and submitting them online, Loyalty Incentive Programs for Old Customers/Users, Small Market Radio (low rates, loyal listeners) with Relevant Ads Pertinent to Show/Schedule
This really answered my problem, thanks!