When it comes to small businesses, marketing is a balancing act. It costs money to advertise, but it is hard to make money without advertising. Few small businesses have a large budget, so finding the sweet spot that is just the right amount of advertising to increase profit, rather than breaking even or going in the hold on marketing, is a chore. Here are some proven small business marketing options that tend to strike the right balance if used correctly.
If you do a great job at what you do, then a lot of the marketing will be done for you. Word will spread, whether customers are happy or unhappy. Make them happy, and you will likely reduce your marketing budget drastically. The key here is to focus on offering something that others will want to share about, and then getting them to share. You can offer referral incentives, but also be sure customers know the platforms you offer for sharing, including Facebook pages, Twitter accounts, Pinterest boards, and more.
Being involved in the community goes a long way. If people see your business actively supporting community activity, they will remember you. Sponsor that Little League Team, the beauty queen contestant, or the booth at the local carnival. Help throw a summer fun day or father/son or mother/ daughter event. Make the community you live in better, and it can only be good for your business.
It doesn’t always work the way you think it will, but posting regular, useful content in a variety of formats can catch on over time. Contest and promotions on social media can work as well, but the best way to use social media is to build relationships and communicate with your market. Respond to comments and reviews, both negative and positive. Offer incentives for sharing how much they love you, and be consistent.
A well placed ad in the local paper, a radio advertisement, a billboard, and even a flyer on the bulletin board at the library can be successful, depending on your market and what you offer. Many communities have “hyper-local” news sites that cover only things in that town. Talk about targeted marketing opportunities! This is also a great way to spread the news of your community involvement. If hosting a local event, the local media is probably the best way to spread the news.
However you choose to advertise your small business, you are likely to need financing at more than one time over the course of your business. Biz2Credit.com can make that process easier for you. Our network of lenders offers a variety of small business financing tools to fill a broad range of borrower needs. Let us help you find the perfect match for you. Visit Biz2Credit.com today for more information and to get started.