Six low cost Ideas for Marketing a Small Business

The harsh economic conditions have made it tough for many businesses to stay afloat. And, if you own a small business, you might be struggling more than most. How can you attract new customers if you do not have the money to market your business? It is difficult to market on a shoestring budget but not impossible. The following ideas for marketing a small business will help you obtain new customers without taking on large marketing expenses.

1. Cold calling

Even the most confident business people have trouble making cold calls to generate leads, yet this tactic can be effective. You may make 100 calls with no success. But if call number 101 gets you connected to an interested party, it might open the door to a great opportunity. The following steps will make cold calling more successful.

a. Conduct research to develop a list of businesses that are a good fit for your products or services

b. Create a telephone presentation that is quick and to the point

c. Try to get a meeting or at least permission to send additional information

2. Network

Networking is about building positive relationships in which the parties involved help each other. You can build and maintain a network in the following ways:

• Volunteer at organizations
• Join professional groups
• Attend seminars, workshops, conferences, and other professional events
• Join networking groups
• Provide members of your network with business leads, information, and support

3. Offer free information

Speaking at seminars and panel discussions, holding workshops, writing articles, or offering consultations at community events will help you establish yourself as an expert in your field. It also gives you the opportunity to generate new leads and build your network.

4. Ask family and friends to help you promote your business

Informal advertising via family and friends can help generate new business. Ask them to spread the word about your business, distribute flyers, and hand out your business cards.

5. Develop partnerships with colleagues and conduct joint promotions

Connect with owners of businesses that complement yours and run joint promotions. This enables you to save money as well as build your network.

6. Place marketing materials in business correspondence

When mailing routine correspondence to customers, include special promotions or useful information. This will keep your business at the top of their minds and may even prompt them to pass your information on to other potential customers.

Although marketing requires an ongoing expenditure of time, it can be done effectively on a small budget. These marketing tips for small businesses will help you attract and obtain new customers.