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10 Ways to Market Yourself for Little or No Cost

In this economy, it is becoming harder and harder to move your business forward. You have less time, less money and more needs.  So how do you keep your sales funnel full without breaking the bank?  Advertising prices don’t seem to be affected by the economic downturn.  Newspapers, magazines and trade papers are still charging large amounts of money for little bits of space…and paper versions of these mediums are quickly becoming obsolete.

Digital versions of most publications are available online, but digital ads can still be cost prohibitive for small businesses.  Reaching your appropriate audience can be a gamble, and sales people are just guessing as to what sections of their site may be beneficial to your business.

In regards to television, ads have come up against a new threat – the DVR. Given the opportunity, who doesn’t want to zoom past all of the commercials and go directly to their favorite show?  The same goes for radio. Less and less people are tuning in to traditional radio and are now turning to their mp3 players, satellite radio and streaming internet. Again, these advertising avenues can break the bank.

So, with that being said and done, how do you capture the attention of buyers, and how do you do it with a limited budget?  Here are 10 ways to market your business for cheap (or even free) in a bad economy!

Online Marketing
1. Social media – The web abounds with social media platforms, but a business can start by working with the big four: Twitter, Facebook, LinkedIn and Google Plus.

  • Twitter allows you, in 140 characters or less, to send snippets of relevant information to your “followers.” By using hash tags (#), you can highlight the important topic of your tweet and also post a link to a corresponding article, blog post or photo.
  • Facebook is used by many for personal reasons, but it is also a great business tool. You can display photos, update followers and create a conversation with those interested in you.  Be sure you set up your Facebook profile as a business and not a person.  https://www.facebook.com/business
  • LinkedIn is a great tool to promote yourself and your business. Setting up a personal profile is important as well as setting up a business profile. By setting up a personal profile, you can “link” to all of your business associates, former co-workers and friends in a business atmosphere. There is also a plethora of business information and networking opportunities available on LinkedIn. You can also start or join specialized groups in your industry where you can learn and exchange ideas.
  • Google Plus has just opened up its social media site for business and the verdict is still out as to how this will affect the other social media forerunners. However, it can’t hurt to set up a Google + for business and see if their type of engagement works best for your business.

2. Search engines – List yourself in search engines. You can do this either manually or with the help of a program.  Many web hosting companies offer programs to help you get listed which can be easier than doing it yourself.  In previous years, you could appear high in search engines without doing anything more than building a website. Nowadays it takes work to stay at the top. If you are in a very competitive business then you will want to hire a professional marketer to do this.

3. Directory listings – This can be especially important for local businesses that work within a certain geographic demographic such as landscapers, pet grooming and other service industries. However, each industry has directories. Find yours by doing an internet search for your category and see where your competition is listed.   These are just a few of the many great directories available:

4. Online forums – If you work in an industry where you are considered an expert then be sure to search industry forums. From computer programming to foam insulation, potential buyers are looking for advice. Be the expert and help them with their issues and they are likely to look to you when they make a purchase decision. Just be careful to follow the advertising rules for each forum. Be sure to log in often to the best forums to insure you get to be a part of relevant conversations!

5. Blog – Hey, you’re reading one now! If you’ve got something to share, this is the place. Potential customers, as well as current customers can keep up with what is going on with your company, your industry and your product or service.  Keep blogs relevant and timely. Also be sure to send out a tweet (Twitter), a LinkedIn update and a Facebook post directed to your blog so that your audience knows to look for new information. Furthermore, be sure to make it easy to find your blog from your homepage.  Many high-profile bloggers invite guest bloggers to add to their blog. Be prepared with a few great ideas.

6. Press releases – Be sure to highlight big events in your company with press releases. Hiring upper management, taking on a new product line, getting a certification – all can be released. Be sure to keep your press releases relevant to your audience and use a free online service to help spread the word.  Also try to submit to industry publications directly so that they notice you.

Working with Others

Sometimes the most unexpected acquaintance can be the key to your next big deal. Mingling strictly online can leave you missing out on a very good avenue of profitability. Here are some ways you can work with others in person and over the phone to take your business to the next level. Remember to dress the part! People make assumptions on what they perceive. Be sure to look professional. In your industry that may be a clean polo with jeans, and for others it could be a suit.

7. Start networking – Most areas have networking events, leads groups and other get-togethers that allow you to mix with people with similar goals. These can include charity events, social groups, church groups, rotary meetings and industry events.  Regardless of the reach of your business, networking locally can keep you in touch with other movers and shakers that can help your business grow.  All new acquaintances can be a possible avenue for business. Be on the lookout for these key players:

  • Media – Reporters, editors and other media professionals need to be in-the-know and have a tendency to attend great events. Introduce yourself. You never know when you’ll get a call to comment on a story or be the story yourself!
  • Co-operatives – These are businesspeople that are in similar industries to your own, but do not compete directly with you.  If you are a landscaper, a home builder would be a co-operative. He or she may have had multiple inquiries for your service, but no one to refer. Get to know the one-off industries that could help you, and in return you can help them when the opportunity arises.

8. Friends, neighbors and family – These are people that know you, trust you and like you. However, they don’t know to spread the word unless you ask them to.  Also, ask them about opportunities in the companies they work for that may work for you.  It’s OK to say, “I’m looking for new business. Do you have any ideas?”

9. Be the expert – OK, so there’s thousands of others that do what you do. Then make yourself special. Delve into an aspect of your business and learn it from stem to stern.  Niche experts are often asked to speak at seminars, help at industry roundtables and work with the press. Don’t forget to always carry business cards, always be open to new ideas, and never be afraid to ask for advice! Expert or not, there’s always room to grow.

10. Referrals and Testimonials – When you do a great job, ask the customer for a testimonial or a referral. Word-of-mouth marketing is a highly effective and free way to reach new customers. Aside from telling others about their experience, customers can use social websites to spread the word.  In addition, reviews can be given on many aggregate websites like the Better Business Bureau,  Yelp and Angie’s List. Having trouble getting satisfied customers to spread the word? Incentivize them with finder’s fees for referrals that become customers. Spending $25 on a lead fee is worth it if the revenue exceeds $250.

So, don’t go spending all of your operating cash on advertising when a little low-cost marketing goes a long way.  Start simple and grow! With a little hard work and determination, you will reap the rewards of investing time rather than money into your business.

- Vikki F.

Got a great way to save money on marketing? Let us know at our Facebook Page, our Twitter, or by sounding off in the comments below!