How to Market Your Business on a Shoestring Budget? Part I
Small business owners believe that in order to successfully promote and advertise their business, they must spend a lot of money to do so. But, when first starting a business, one must learn how to create a budget for advertisement. Small business owners do not realize that are many economical methods to market and promote their business. There are many ways to promote a business without breaking the bank and it can be done on a “shoestring budget”.
Here are some inexpensive ways to market your business:
The first inexpensive method to market your business is networking. Networking involves going to business and social events to gain knowledge and make the right connections. By networking you can create strategic partnerships with other businesses that provide products and services similar to your business. With these strategic partnerships, you can create a great referral source for customers. Also, creating a business referral list for customers is a good way to ensure that one’s business has a regular flow of customers. Whenever one attends social events, it is advisable to have business cards to pass out to businesses and potential clients. Also, ensure that you have your “30 second” sales pitch ready to introduce yourself and your business to others. Networking is critical to promoting your business because it gives you the chance to hone your skills in selling your business to potential clients, it allows you meet other business owners, and it allows you to create business relationships that can last a lifetime.
The second inexpensive method to market your business is by joining business organizations and social groups geared towards your type of business. Joining business organizations and social groups is the best way to connect with other businesses. The membership fees for such organizations are from $0 to $300 per year.
Most business organizations provide the following perks:
- Good events to attend.
- Seminars and workshops.
- Retreat events that focus on relaxation and valuable training at the same time.
- Social mixers where entrepreneurs can mix and mingle with each other.
Social groups and business organizations are a good way to promote a small business and make valuable connections. These business connections can be a good resource for one’s business. Plus, these business connections can create a good support system to deal with the everyday “pains and headaches” of running a business.
The third inexpensive method to market your business on a “shoestring budget” is by using social media. With social media, you can create a special page for your business.
Why it is good to create a social media page for a business?
- Can provide valuable information to the public about the business.
- Keep your customers up to date on upcoming business events.
- Provide valuable information that the public can use in their everyday life.
- Allows the business to keep customers up to date on special sales of products and services.
Social media allows a business to connect with other businesses and share valuable information with each other. To be successful on social media sites, a business has to create a presence.
Here are some good pointers to consider when creating a social media presence for a business:
- Ensure that you have something of value to offer.
- You must have good content.
- Know your audience.
- Know the wants and needs of your audience.
- Share the content of others.
- Do not always have a “sales angle” with your content.
- Ensure that your content can solve a problem.
- You must be present on social media on a regular basis.
These are just a few inexpensive methods of marketing and promoting your business on a “shoestring budget”.
Part I of II “Marketing Your Business on Shoestring Budget” Series.
Donya Zimmerman is a business consultant, mediator, and legal professional with over ten years of experience. Donya is also a public speaker and aspiring author. She has a few books in the works that will be published and released in the latter part of 2015. The books will focus on entrepreneurship, small business, and daily devotionals. She is owner of Family & Community Mediation and Business Consulting (FACMBC) and Powerful Biz Woman (subsidiary of FACMBC). Both are based in Baltimore, Maryland and were established in 2013 and 2014. Services provided by FACMBC: Mediation and Conflict Resolution Services; Business Registration Assistance (Limited Liability Company, Corporation, S-Corp, Limited Liability Partnership, etc.); Business Plan Drafting Assistance; Business Certification Assistance (MBE, WOSB, 8A, 501(c) (3), Hub Zone, etc.); and Business Organization Assistance. Services and products provided by Powerful Biz Woman are workshops: Entrepreneurship 101; How to Stay Out of Tax Trouble and Legal Trouble in Small Business; Start up 101; and Female Entrepreneurship 101. Powerful Biz Woman provides books on the following topics: Entrepreneurship 101; Daily Devotionals for Entrepreneurs/Small Business Owners; Daily Devotionals for Female Entrepreneurs; Small Business Owner Tips; Powerful Biz Tips; and Inner Will Power to Make Your Dreams a Reality. These books will be available starting September 5, 2015. Donya Zimmerman is also a contributing writer with the Maryland Daily Examiner Newspaper and the Leadership Girl Newsletter. Donya Zimmerman has made article contributions to the Simply Inspirational Women in Business Journal for 2014 published by Dr. Cheryl Cottle.
If you are thinking about starting your own small business or non-profit organization do not hesitate to contact Donya Zimmerman because she can show you how to do so. Contact information: firstname.lastname@example.org; www.facebook.com/FACMBC; www.twitter.com/FACMBC; https://dzimmerman36.wordpress.com; www.linkedin.com/in/dzbusconsultantandmediator; www.conflictresolutionandconsulting.com.
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