A business cannot succeed without involving a sound marketing strategy. Thankfully, there are cheap strategies that a business can use to market its products effectively. These days, the business is better off finding ways to minimize cost without compromising marketability of its products. Now that may be hard to do, but with some help, it can be a bit simpler and doable.
To start, always consider the type of business you’re operating. Understand that not all marketing strategies suit your type of business or market. Analyze the relative effectiveness of the tool regarding getting your message across, the cost it entails, its call-to-action and reach. Next, conduct some research on low-cost advertising schemes available to you. To make things easier, here are several options you can consider.
1. Use radio advertising
Radio advertising is much cheaper than television and print, and it can be as effective in reaching your target customers, particularly those in a particular geographic location. Radio is still popular, especially now that it has transcended to cyber space.
2. Provide free workshops
If you are in a crafts retailing business, you could establish your exposure by offering free workshops or classes using your merchandise. This approach is a great and effective marketing strategy of luring in prospective customers.
3. Join trade fairs
Most of your prospective suppliers and customers can be found in expos and trade shows, so it’s smart to make yourself known to them. This type of event is the perfect time to provide product demos, hand out business cards, and make some sales on the spot.
4. Do cross-marketing promotion
It’s like doing a favor in exchange for a favor. You can partner with one or two other businesses in this effort. By joint marketing efforts, you are increasing your exposure with minimal cost and work.
5. Giving business cards
Card swapping is an old business tradition, but it still works. For entrepreneurs like you, business cards work like identification cards. They give you access to several marketing opportunities, so make sure you always have several in a carrying case wherever you go.
6. Use word-of-mouth
Of course, you have to find creative ways to impress your customers to be the talk of the town. Understand, however, that it’s very easy for bad news to spread rather than good news, so be very careful what tactics you use, and what you communicate.
7. Conduct sales presentations
Most customers are just out there hunting for the cheapest buy; they are the low-hanging fruit. But for you to get good quality repeat clients, try increasing your exposure and boosting your sales by conducting sales presentations at every chance you get. Work creatively with your peers to get yourselves appointments to present your products to other sales groups in local companies; not only might you sell your product to them, but you may be able to obtain new businesses partners with whom to collaborate and grow your business.
Talk about cheap…here are some ideas – for under $10.