An
orange seller, used car salesman or manufacturers need marketing. Running a profitable business is no bed of roses
especially startup companies.
Whatever
the type of business such as service oriented, retail or wholesalers without
proper marketing the business may fail. Even if the business attracts
reasonable customers you need to position your enterprise to make profit.
The best way to achieve profitability is
through marketing.
60 low cost Marketing Ideas for Small Business Owners
60 low cost Marketing Ideas for Small Business Owners
Types of Marketing
1 Branding
2 Advertisement placements
3 Pricing
4 Introducing a new product
5 Freebies
6 Discounts
7 Public relations
8 Direct marketing
Create a Marketing plan
The first important step is to
realize that without a marketing plan there would be little improvement.
Creating a good marketing plan is important to your business success.
Marketing is a very critical business strategy
that attracts new and existing customers. In order to have a good marketing
plan the following areas should be thoroughly explored.
A workable marketing plan should
work on a budget and develop a strategy. There is no need to overspending to
get your message across.
Your strategy could involve promoting your business
to a target audience and demography. Another consideration is adequate research
into the current and existing trends.
This is done by taking a crucial
look at your competitors to learn what they are doing right or wrong. After
doing the research settle on a marketing strategy.
Marketing
Tips
Type of marketing
There are many types of marketing
platforms to take your business to the next level. Some of which are branding,
advertisement, pricing, giveaways.
Other marketing strategies are ‘Buy
one Get one free’, discounts, public relation, direct marketing, media and
electronic. More marketing strategies
are better product, new quality products and advertisement placement.
Direct marketing could involve hand bill,
posters, banners and paid advertisement placement.
Marketing
your Skill
Why
promote your company
- To increase Sales
- Attract clients
- Gain more publicity
Why
Marketing
Marketing allows the business owner test
the pulse of his customers. Understanding their needs and shopping preference
provide valuable information.
The business owner uses this informed to streamline
strategies to grow the business. Marketing diligence using statistical data to
effectively increase your organic growth is important.
Organic growth may emanate from
increased purchasing power of customers. This translates to more products
purchased and a new customer base.
Old customers attracting new ones giving the
customers better choices. Doing your research before embarking on a marketing
strategy reduces the risk.
Knowing your customers preferences
optimizes your marketing plans. The data
helps in the marketing process by helping to reduce costs.
Other benefits involve a reduction
in cost of production and increased sales. There are many ways to launch a
marketing strategy some of which are highlighted bellow.
Using a Marketing Research Company
The common practice when a business
wants to start a marketing campaign is to employ the services of a marketing
company. Both large and small
enterprises use their services for better results some of which are insight
generation which involves tested strategies that are consumer oriented.
They provide branding opportunities with the
aim of profitability, by identifying the need of the customers through new
products or services with an aim for profitability. Market leaders know the
power of branding their products or services, proper branding can transform an
ordinary product into a premium one.
Customer Rewards
The purchase and reward system is a
very effective tool to deploy when marketing your products or services. Many top brands us this method to shore up
sales, appreciate old customers and get new one all in one marketing plan.
Customer rewards can be all
inclusive or exclusive to only established customers. The marketing strategy depends on the focus of
the business. Customer rewards may include giveaways, discounted products, high
end limited edition offers and so on.
Affiliate Discounts and Gifts for
Old Customers
Marketing tips for your small
business could involve offering old customers some sort of incentive like free
discounts. Buy two for the price of one
or small royalty on sales is a tested way of encouraging old customers to
introduce new customers to the product.
Online affiliates that use this
format abound giving incentives, coupons and cash rewards for every new paying
customer an old customer introduces to the product or service.
Market Research
The business owner needs to do
market research before he can determine the type of marketing that could effectively
represent the business. Market research is done by professional marketing
service providers for a fee or through surveys.
They use questioners, hand outs,
door to door participation, research, and random interviews. Other methods are
employing the use of focus groups and customer demography.
All of the above is simply to offer
better services to your customer base through proper pricing, packaging and
after sale service delivery.
Budgeting
The business should work within its
means, having a huge budget channeled towards marketing does not always
translate to increased sale. The business should use only the amount they can
afford and tailor the marketing strategy to fit the budget.
The lower the budget the more
unhands approach is needed. The bigger
the budget the more professionals you can hire to execute your vision.
Questions
and Survey as Marketing Tools
Surveys and questioners are
important when gathering data that would be used as a guide for marketing
campaigns. The quality of the information is only as good as those interviewed
so adequate useful and correct data is very important.
The researchers play an important
role in gathering this data by doing field work. They need to ensure full compliance including
quality questions and respondents.
Customer Service
Having a good marketing machine
without top customer service is doomed to fail. You get people interested in
your product and the response time from your end is inadequate.
Business owners should invest in their staff
so customer service and experience is flawless like a well oiled engine.
Telecommunication businesses and commercial banks usually have well train and
effective customer service.
Without such responses they would not only
lose business but their customer base.
Blogging as a Marketing Tool
Every business needs to have an
online presence whether it’s a website, blog or social media presence. Ignoring
the full potential of the internet places the business only within its
immediate environment.
Having an online presence is easy and an
effective marketing tool. The entrepreneur could pay a developer to build a
website or use the numerous free and paid hosting platforms to build the blog.
Most free hosting websites have
readymade templates and easy to use formats. The two top websites are blogger and WordPress.
Upgrade and post new content regularly
and remember nothing puts off a customer like unresponsive button. Make sure
your links or tags including a toll free phone number for customer service
works.
Other things are free promotions, freebies and
branding.
Using Media Platforms for Marketing
The common practice is using
electronic media like television advertisements, radio jingles and paid
interviews which are all very effective. The business can sponsor an occasion or event
targeted at their business core customers.
If the business is involved with products that
have something to do with the youths, then targeting the youths through musical
concerts or programs. Newspaper advertisements are also very effective
marketing tools.
Product
Pricing
The products price might be the
stumbling block to success. Without correct pricing there is no competition and
the potential customer may seek other products despite the higher quality of
your product.
A good example is a 450kg sachet of
powdered milk. Although top brands have a wide reach and better branding more
relatively unknown brands seems to steal the market through product pricing.
They offer the same quantity at a reduced
price thereby allowing the shrewd buyer purchase the lower product and denying
the premium brand a paying customer.
To run a successful marketing
campaign the business should effectively merge direct marketing, good sales and
services.
A well priced product and customer
satisfaction equates to sales and profitability. A marketing campaign is all
about new and existing customers and making profit.
Active
Participation in Online Activities
We have highlighted the need for a
small business to have an online presence. The owner can take it a little further by
getting involved in discussion groups.
Join forums, social networking,
commentary and other online activity with a view of marketing his business to
the members. You can get more follower and new customer’s.
The business should use social media
such as Facebook, twitter, MySpace and other online communities. The business
could take advertisements like banners or text links.
Business Networking
Market your business through a networking
platform where professional meet and exchange contact. The business owner might reach people that make
a difference to his business.
Business networking is an effective way of drumming
up new business prospects. Other places
that business owners network is joining associations relevant to the business.
Join communities that do the same
type of business, go to parties and attend seminars and network.
Technology in Marketing a Small Business
The use of technology covers direct marketing
SMS and email listing. It helps identify
demography, spending pattern and so on.
The direct impute from modern
devices like smart phones, i pad, mini laptops make marketing research and survey
gathering seamless. It’s effective and reduces poor communication skill,
invalid data and laziness of the field agent through real-time GPS monitoring
and location finder.
Write Articles
If the business owner has a flare
for writing he can join an article directory. Write content that could complement the
product or service.
The article should reflect the advantages
associated with buying into the services or purchasing that particular product.
Using online press releases is an effective way of introducing new products to
the general public.
It is not limited to your immediate environs but
the entire world. Blog posts and content contributory websites work.
Exchange of links as long as it is
not spamming could also direct traffic to your blog. This method could increase
the visibility of your website and attracting potential customers.
Effective Use of Down Time
When business is sluggish and slow
use direct marketing. Re-introduction
the brand, use effective bulk marketing structure, one on one contact, open
house and engage your customers in interesting ways.
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