2 minute read

5 Low budget marketing ideas for your business

from Parents in Business Magazine Winter 2022

by parentsinbiz

from Parents in Business Magazine Winter 2022 , page 18

Article from: Parents in Business Magazine Winter 2022

Let’s talk business with Clare

You need to market your business to make money, but marketing costs money. If you feel like you are stuck in a catch 22, you are not alone, but thankfully there are some low-cost, even free methods of marketing that may be the solution you have been looking for.

1. Ask for referrals

Word of mouth was always the best sign of a good tradesman, and nothing has changed in the digital era. Getting referrals from customers is a great way to grow your business. Offering a discount on the next purchase for an existing customer when their friend converts to a sale is a great low-cost motivator and is easy to set up and administer. Enclose information in every item you send out and publicise it across your social channels and website.

2. Collaborate with other businesses

Collab is a buzzword for businesses of all shapes and sizes. The key here is to pick an industry that perfectly complements yours. If they are also a small company selling, the idea of collaboration shouldn’t be that tricky. You can go all in and market each other’s products; maybe you make shoes, and they sell socks, or you can keep it looser and add the odd post for each other. It immediately doubles your audience on social media when they post about you to their fans, and you post about them for your fans. This is also a trust relationship so ensure they have a product suitable for your customers as they trust you,

3. Offer to speak

Setting yourself up as an industry expert is a great way to gain the trust of prospects, and it helps solidify your brand. If you know your stuff, do not be afraid to use it. Offering yourself up as a speaker to groups that contain your demographic is a great way to get your name known. Events are always keen to have speakers onboard, and free ones are incredibly enticing. All this costs you is your time, and the payback could be valuable.

5. Apply for business awards

Here’s the deal if you have ever wondered how business award winners even got their hat in the ring to start with. They nominated themselves! Not everyone is aware of this fact, but most business awards are self-nominated, and you will then go up against anyone else in your category, and who knows, you might even win. This is a great platform to gain traction in your industry. Don’t forget to blog about it, too - your social channels are a great place to show off your nomination (as we say, most people are unaware these are self-nominated) and if you win or place as a runner up, be sure to shout it loud!

If you are not comfortable standing up and speaking in front of an audience, writing for an industry publication can have the same outcomes. Be sure to check your facts and figures, cite your sources and spell check the document before submitting it. Again, this doesn’t cost anything but time, and you can credit yourself and your company to help raise your profile and get your name out there.