Starting a small business is a bold but highly challenging task, and it requires you to make significant investments. You’ll have to set aside money for the location, utilities, materials, and other vital aspects of your brand.
When your small business is on a tight budget, focusing on your marketing tactics may be the last thing you want to do. However, there’s a wealth of affordable strategies that you can employ to boost your establishment’s presence and attract potential customers.
In the age of all things digital, you now have access to various ways of reaching out to people. If you’re looking to market your small business while on a budget, it’s in your best interest to follow these helpful tips:
Tip #1: Build a Presence in Social Media
Making a social media account is one of the best things you can do for your business. Almost everyone uses it, making it a huge platform for online marketing. Facebook, for example, has billions of active users, making it an excellent platform to start with.
You’ll have a massive opportunity to cater to a large audience with a broad demographic—kids, teenagers, adults, and the elderly all make use of the app. There will also likely be a Facebook group for locals, and you can use those to make pitches, advertise your products and services, and communicate with your prospects.
The best part about it is that you don’t have to hire a tech specialist or pay for hosting services. Creating a page is simple and free. Putting out content isn’t much of an issue as well, but it’s helpful if you post some news, updates, deals, or even stories at least once a month to remind your audience that you’re there.
Tip #2: Establish a Network
Getting to know other small business owners will help generate new leads, learning new things, and creating brand awareness. Establishing a group of non-competing small brands in your area is also a great way to make further referrals. You can also collaborate with them by offering bundles or promos to customers.
Tip #3: Offer Coupons and Other Incentives
Giving coupons, free products, or other incentives to your customers is an easy way to build loyalty. When they have a good experience with your business and you offer them a discount coupon for a future visit, they’re more likely to return and become regulars. They’re also more likely to go out of their way to use coupons, so making use of them is a great way to attract customers into making purchases.
Tip #4: Build and Nurture Customer Relationships
Loyal customers are a valuable asset to any brand, which is why you should strive to build a good relationship with your patrons. Keeping in touch with them through social media or email marketing is a way to nurture this relationship. You may ask them to make referrals or leave reviews on your business pages—these will be instrumental in improving your presence.
Boost Your Small Business with the Right Knowledge
Marketing your small business is no easy task, and putting out paid advertisements can be expensive. Fortunately, there are also some affordable ways to establish a presence and build brand awareness. By keeping these tips in mind, you’ll be better equipped to put your business out there and attract new and returning customers.
If you’re looking for more information on how to market a small business, New Business Centre has just the guide for you. We can provide you with vital information on starting and growing your business, arming you with the knowledge to get ahead. Learn how to boost your brand—contact us today!
With over 30 years experience and having worked with well over 200 Companies, Start up to Exit Strategy, across multiple industries, Kaye has expertise across all things day to day in business which is laid out here in our new business kit giving brilliant insights, shortcuts, and ‘Golden Nuggets’ of information from that experience most new business owners would simply have no clue about.