Large businesses are reducing their advertising budgets so it is no surprise small businesses are as well. In fact, 74% of corporate business marketing departments indicate that they are reducing their advertising budgets. So, if advertising budgets are falling, but the need for new business due to recession losses is rising, how can you continue to market your business?
There are many non-traditional marketing methods that are often free or very low-cost. They aren't meant to replace your usual marketing strategy but to supplement and grow it. Because they are so inexpensive and low-risk, now, in these financially leaner times, is a great time to test them out.
Social media is the most talked about of all of these marketing trends. By interacting on Twitter, joining groups on Facebook and LinkedIn you expose a large number of new contacts to your business. Be diligent. This form of advertising through "relationship building" takes time.
As a small business owner, you should know that every time you lose a customer and have to replace them, it costs you real money. Take care of the customers you already have! A simple thank you card in the mail, a phone call or visit go a long way in reminding them that they truly are appreciated. It also goes along way in making sure they think of you when someone asks for a referral.
Build a referral network. What is this exactly? Essentially it is a network of individuals who refer business to one another. Let your accountant, your attorney, your doctor, your computer maintenance person or anyone else that you do business with know that you are looking for new business. Let them know you'd be glad to refer to them if they would do the same. Feel confident in those people you refer business to! But be sure to let your trusted contacts know you are seeking referrals.
A great way to meet like-minded people you respect, and to build your own reputation, is through community involvement. Whether you are volunteering at a soup kitchen or for Habitat for Humanity, you get the opportunity to tell people what you do while providing a genuine service. You can also let people know your business is involved with certain organizations by adding their logos to your website.
Be prepared to answer the question "What do you do?" This is known as your "elevator speech" and is called that because it should be short enough to give on a short elevator ride. If you are in a traditional business like HVAC or plumbing, don't just say "I'm a plumber". Say something like "I own a company that excels at both residential and commercial plumbing contracting and we are known for our stand-out customer service". Practice and be polished.
Search engine optimization is the process of ensuring that your website or blog ranks as high as possible in search engine results. There are simple steps like adding outgoing links, keywords and title changes, that you can make so that sites like Google and Yahoo can find you. Try to do some of this yourself or ask your webmaster for help. Check out other articles about SEO on my website.
Stay caught up on small business marketing ideas by subscribing to my blog and reading the website.
There are many non-traditional marketing methods that are often free or very low-cost. They aren't meant to replace your usual marketing strategy but to supplement and grow it. Because they are so inexpensive and low-risk, now, in these financially leaner times, is a great time to test them out.
Social media is the most talked about of all of these marketing trends. By interacting on Twitter, joining groups on Facebook and LinkedIn you expose a large number of new contacts to your business. Be diligent. This form of advertising through "relationship building" takes time.
As a small business owner, you should know that every time you lose a customer and have to replace them, it costs you real money. Take care of the customers you already have! A simple thank you card in the mail, a phone call or visit go a long way in reminding them that they truly are appreciated. It also goes along way in making sure they think of you when someone asks for a referral.
Build a referral network. What is this exactly? Essentially it is a network of individuals who refer business to one another. Let your accountant, your attorney, your doctor, your computer maintenance person or anyone else that you do business with know that you are looking for new business. Let them know you'd be glad to refer to them if they would do the same. Feel confident in those people you refer business to! But be sure to let your trusted contacts know you are seeking referrals.
A great way to meet like-minded people you respect, and to build your own reputation, is through community involvement. Whether you are volunteering at a soup kitchen or for Habitat for Humanity, you get the opportunity to tell people what you do while providing a genuine service. You can also let people know your business is involved with certain organizations by adding their logos to your website.
Be prepared to answer the question "What do you do?" This is known as your "elevator speech" and is called that because it should be short enough to give on a short elevator ride. If you are in a traditional business like HVAC or plumbing, don't just say "I'm a plumber". Say something like "I own a company that excels at both residential and commercial plumbing contracting and we are known for our stand-out customer service". Practice and be polished.
Search engine optimization is the process of ensuring that your website or blog ranks as high as possible in search engine results. There are simple steps like adding outgoing links, keywords and title changes, that you can make so that sites like Google and Yahoo can find you. Try to do some of this yourself or ask your webmaster for help. Check out other articles about SEO on my website.
Stay caught up on small business marketing ideas by subscribing to my blog and reading the website.
About the Author:
With 30+ years consulting experience, Steven Schlagel provides training and coaching for startups, entrepreneurs and small business owners. Check his site for more articles to increase your success!
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