Secrets to Promoting Your Business on a Small Budget

November 14, 2013
Promoting your business on a small budget

One of the big challenges of starting a business is promoting it. How do you get your name out there when advertising is expensive and you have a tight budget? With so much competition out there you must find a way to differentiate yourself and stand out in your customers’ minds.

It’s not easy, but I have compiled a list of ideas for making use of a small promotion budget.

  1. Create an elevator pitch. You must always be ready to advertise your business. Prepare a 45 to 60-second compelling elevator pitch that will captivate your audience’s attention. Keep in mind that people have short attention spans and in order for them to be interested in hearing your entire pitch you need to capture their attention in the first 4 to 8 seconds.
  2. Attend networking events. Building strong network connections can eventually lead you to the right person who will share what you do and help you spread the word about your business. It is important to remember to always have business cards with you.
  3. Build relationships with your customers. Research shows that it is easier and less expensive to keep an older customer than to acquire a new one, so it is your job to keep customers happy and coming back. Word of mouth is a huge marketing tool, and happy customers may spread their good opinion of your company to friends and family.
  4. Get a website. You can hire a freelance developer or use one of the many website building tools available. Just remember that it is important for your website to have the right content and to effectively showcase what you do. Consider consulting a professional.
  5. Create a blog. Creating a blog is a wonderful way to demonstrate your expertise in your field. It is a way of showing your current and prospective customers that you know what you are doing. Once people realize this they will be more confident in trusting you with fixing the problems they might have.
  6. Use social media outlets. This is one of the most important things you need to take advantage of. Social media can be a great way to spread the word about your business and interact with your customers. Create a profile on websites like LinkedIn, Facebook, Twitter or Pinterest, and use these platforms to showcase what you do. Social media sites are a great outlet to show the human side of your business and to answer your customers’ questions.
  7. Offer coupons. A great way to attract new customers to your business and get your company out there is to do a giveaway or offer coupons. When you offer coupons customers get to try out your products and most of the time, if they like it, they come back and repurchase them.
  8. Volunteer. What a better way to spread the word about your business and give back to the community than by volunteering? First of all you are creating a positive brand image for your company and second of all you are making a difference in people’s lives. Wear a company-branded shirt or cap while volunteering, and leave other volunteers with a positive association between you and your business.
  9. Go the extra mile. People will remember what you did for them if you exceed their expectations. Always go above and beyond customers’ expectations, and you’ll be remembered and talked about.

There are many other ways in which you can gain awareness for your company when running on a small budget. Please share any methods you’ve used in the comments.

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[Image: Dell Inc.]