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Marketing on a Shoestring Budget

Marketing on a Shoestring Budget

Everyone is talking about it. The stalling U.S. economy is on everyone’s mind.

If you are a business owner, the economy is hitting your business directly and maybe in a more personal way. I know many business owners that have seen their sales slow to a crawl. On top of dealing with day-to-day business operations, we must remain proactive in bringing in that elusive new customer. Making the phone ring or having new customers walk through our door should be a top priority of any serious entrepreneur.

Even in difficult times, a business must continue to market and promote itself – in fact it should do so with a heightened sense of urgency. Try these common sense and creative ideas for reaching out to that critical new customer.

Never underestimate the impact of community relations. Some people call it networking, but it goes further than that. Get involved with your neighborhood or community associations and organizations. You will raise your company’s profile when you can show sincere concern for what is going on around you.

Do you have a real good story to tell about your business or product? Reach out to the press or start an effective PR campaign to get your messages to your prospective customers. An effective PR program doesn’t have to cost an arm and a leg. In fact, if it’s planned out correctly, it can be a very cost efficient way of reaching out to new customers.

Have you considered tapping into new markets? For example, take a good look at your current marketing and promotional materials. If your brochures, signs and even Website are all in English, then maybe it’s time to get your messages out in Spanish. The Hispanic market is one of the fastest growing and most lucrative spending machines in the nation today. If you are not reaching out to them, believe me your competitors will.

Don’t forget your professional associations. Just about every profession or industry has such an association. It’s a great way to hear the latest news from the trenches, gather new ideas for your business and let’s face it a way to vent and cry on someone’s shoulder on what’s happening in this depressed business climate.

If you are not putting technology to work for you then you are basically missing out. As an example, sending out emails cost pennies and is a very cost effective way to bring in new customers via an email marketing campaign. The content must be compelling and you must have something to say or offer to new customers. If your e-newsletter is good enough, guess what, it will get forwarded on to another potential client – that can be called an e-referral.

I’m still optimistic that the economy will improve with time. Until then, I highly recommend that you take proactive steps to keep reaching out to new customers. The more active you are in promoting your business, the further ahead you will be when the economy turns around.

We want to hear from you, let us know if you have any other ideas on how to market your company on a limited budget.

Posted by Ramir Camu on 10/02 at 12:10 PM in BusinessMarketing

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