“I had to put marketing on the back burner for a while because of cash flow. I know you”™ll probably tell me that was the wrong thing to do, but I didn”™t feel like I had any options. How can I implement some low-cost/no-cost things in marketing without spending a lot of time doing it, so we don”™t completely disappear from our clients”™ and prospects”™ radar.”
Thoughts of the day: Today”™s marketing world gives you a lot of low-cost/ no-cost options that are also not going to eat up tons of time. It”™s smart of you to be aware of your cash flow and to know when you need to cut back spending. Focus efforts toward those prospects and client groups you want to most reach, rather than trying to be everything to everyone. Think creatively about who can help you with marketing for little or no cost, until you can afford to spend more.
The good news is that there”™s a lot you can do to market your business for little or no cost and that”™s largely thanks to the Internet.
Do some research on what your competitors are doing. This can be done pretty easily using the Internet, or even making a few mystery calls. Once you see where they are marketing, it doesn”™t always make sense to try and compete with them on the same platform. For example, if they”™re not using YouTube or Pinterest, have your team brainstorm ways to use them. Don”™t ignore the places your competitor is marketing, but trying to out-market them is not going to be cost effective.
Hosting a small event for prospects can be done easily and it can be cost efficient. Set a budget, let”™s say $300, and invite people for networking and appetizers or a 6-foot sub. Throw in an educational component and you”™ll have people talking about your company. Word of mouth is still the most effective way to get new, good, customers, so don”™t dismiss an event with only 20 people.
Consumers”™ today love to see companies that show support for charities. Donate your services or products to a local charity or organization and use social media to let people know about it. Use your wording carefully to ensure that people believe your company is genuine in its reasons. Think about partnering with another local company and work to better the community around you.
Social media is free for the most part, and if you”™ve been hesitant to get on the social media bandwagon remember that marketing is about getting your name out there. Figure out where your prospects are looking for information and you”™ll narrow the energy you need to expend to achieve an impact. You can find out this information just by making some calls to people you know. This information will help you focus on high-potential activities.
Spending when you don”™t have the money is dumb. So is letting your company disappear from the public”™s radar because you are short of funds. Long term, build a budget for marketing by putting aside a few dollars each week that can fund more expensive efforts down the road.
Line up some helpers for marketing, people that are efficient at using the Internet. This typically means younger and less expensive people. Hire interns. You don”™t have to pay them a high salary and it gives them an opportunity to make an impact. Call the local schools, ask for the intern department. Tell your employees you”™re looking to hire people part time who are the age of their children and see who pops up.
The simpler the task, the lower the skill level needed, so make it simple. While entry-level students may be quick on the Internet, they know nothing about your company. Ask your employees to help develop themes ”“ what your company is about, why people work with your company, who your target is, and why.
Whatever you do, don”™t give up or ignore the problem. You competitors certainly won”™t. Do what you can now to create a foundation for later.
Looking for a good book? Try “Free Marketing, 101 Low and No-Cost Ways To Grow Your Business Online & Off” by Jim Cocrum.
Andi Gray is president of Strategy Leaders Inc., strategyleaders.com, a business-consulting firm that specializes in helping small to midsize, privately held businesses achieve doubled revenues and tripled profits in repetitive growth cycles. Interested in learning how Strategy Leaders can help your business? Call now for a free consultation and diagnostic process: (877) 238-3535. Do you have a question for Andi? Email her: AskAndi@StrategyLeaders.com. Visit AskAndi.com for an entire library of her articles.
