It’s a dilemma that most small businesses and startups face: You must market and advertise, but you’re strapped for cash. Fortunately, ideas, energy and imagination can make up for meager marketing budgets. Whether you’re an established company or a nascent business, the marketing formula is the same. You’ll need to start with:
1. The right message
2. To the right audience
3. At the right time
Here are a few ideas for stretching your marketing budget:
Maximize Internet marketing opportunities
The Web has opened up a world of low-cost marketing opportunities, from email and e-newsletters to blogs and podcasts. Also, consider search engine marketing and programs like Googll Ad Words, which charges on a pay-per-click basis.
Ideas and Resources: If you want to send an e-newsletter or conduct a low-cost email marketing campaign, try ConstantContact.com (as low as $15 per month). To build a list of prospects, sign up visitors to your Web site (a no-brainer) by offering a gift (a short report, 10 tips from an expert, or something humorous) or rent a targeted email list at Postmaster Direct.
Seek publicity
Send out press releases and look for “hooks” to get your company covered in print or on TV or radio. Also, make the most of trade showsby speaking on industry panels to position yourself as an expert in your field. (Speakers and panelists at trade shows often receive free registration.)
Ideas and Resources: PR Newswire.com details the components of a press release and offers other tools for publicizing your business. MarketingSherpa.com also features many publicity tips.
Adopt Guerrilla Marketing techniques
Guerilla Marketing is described as “a proven method of achieving profits with minimum money.” After 14 million books in 41 languages, Jay Conrad Levinson’s low-cost tactics are still going strong. Some of his tried and true tips include writing a column for your local paper, sending “off-season” cards (instead of holiday cards), and even slipping your business cards into relevant books at the bookstore or library.
Ideas and Resources Learn more about Guerrilla Marketing at www.gmarketing.com.
Harness the power of Word of Mouth marketing
Word of mouth, or buzz marketing, has been generating buzz of its own as a powerful and inexpensive marketing discipline. Create your own customer evangelists and let them spread the good word.
Ideas and Resources: Visit Bravenet.com to add a free “tell-a-friend” tool to your Web site, e-newsletter, or emails, or try the low-cost Tell-a-Friend Wizard. For more ideas on how to generate buzz, visit www.womma.org, the Word of Mouth Marketing Association.
Consider low-cost, “do-it-yourself” media options
Before you invest in an elaborate direct mail campaign, consider sending less expensive mail such as postcards or birthday cards to clients. Piggybacking on existing community promotions such as participating in town days, and developing loyalty or frequent-buyer programs are other “frugal” methods.
Ideas and Resources: Try a low-cost postcard service such as Modern Postcards.com. Your business can join an existing loyalty program such as MyPoints.com or establish a custom loyalty program with companies such as Maritz. Find dozens of frugal marketing tips at FrugalMarketing.com.
Additional Tips & Tactics:
* In a world of spam and impersonal emails, try sending personal, hand-written notes.
* Find a related but non-competitive partner and join forces to share marketing efforts.
* Do “grassroots” marketing research by talking to your customers one-on-one.
* Join newsgroups and online discussion groups to position yourself as an expert.
Lou Bortone is an award-winning writer and video producer with over 20 years experience in marketing, branding and promotion. As an online video expert, Lou helps entrepreneurs create video for the web at www.TheOnlineVideoGuy.com. In addition, Lou works as a freelance writer and professional ghostwriter, with a ghostwriting site at www.GhostwriteForYou.com and a blog at www.GhostwriteGuru.com.