Download Low Cost and No Cost Marketing Strategies

Low Cost and No Cost Marketing Strategies
By Cecil McDaniel
Marketing is not just advertising. It’s
everything that you do from your initial
business concept to the delivery of your
products or services. Even though it is
crucial to all businesses, when budgets
get tight, owners somehow rationalize
cutbacks in marketing. I won’t mislead
you. Any successful marketing strategy
requires money. Effective marketing is
not cheap; however, there are strategies
you can implement for little or no cost.
Remember that the highest cost in
marketing is not marketing!
Selecting a name that sells for your
business doesn’t cost a cent, but it is
critical for business success. Your name
should tell prospective customers exactly
what you do and why they should do
business with you. A poor example of a
business name would be Bulldog
Enterprises, Inc. This could be anything
from a dog breeder to a bail bonding
company. On the other hand, the name
Budget Rent-A-Car tells exactly what the
company does and implies the feature
and benefit of low cost auto rental. Avoid
using your sir name in your business
unless you have achieved celebrity
status. What works for Jimmy Dean will
not work for Bob from Buford. Carefully
consider the name of your business. Is
it hard to spell...difficult to remember
or pronounce...does it create a good first
impression? Bottom line...does it sell?
If it is bad, change it.
Failing to plan is planning to fail.
Developing a marketing plan is free and
can be as simple as a time line of when
to order business cards, networking
opportunities, organizational meetings,
speaking engagements, and deadlines for
publications. Ronelle Genser of Genser
International Consulting states, “there are
three secrets to marketing. Commitment,
Investment (not just of money but of
time, energy, and talent, as well), and
Consistency.” It would be difficult to
have all three without some basic plan.
Business cards are the most basic
and versatile of all marketing tools.
Always use them and hand out two at a
time, but make sure they are effective.
Just like the name of your business,
consider choices and design your
business card. Does it clearly state what
business you are in and what you do? Is
it clear and legible? Avoid unusual
shapes, sizes, and vertical layouts. Use
10 point or larger type on any line.
Consider colors, artwork, or any other
attention getting features. Make sure
that the business card is simple and that
it sells. Believe it or not, there are web
sites you can go to for free business
cards. All you pay is for shipping! You
can also print your own cards from your
PC, but professional printing is
recommended, and for what they can
do, business cards are very cheap.
Network. Be a joiner of groups of
potential prospects. Attend meetings,
hand out and collect business cards.
Offer a certificate for free service or
donate a product to be given as a door
prize. This gets your business free
recognition. I know the owner of a
package store who offers a bottle of
wine as a door prize at all chamber
functions. Every time someone wins the
coveted bottle of wine, the crowd shouts
out his name in unison. He has a good
business! Just as an aside, consider
wearing (and providing for any
employees) nice golf/polo shirts with the
business name and logo. I know that
shirts cost money (the M word), but
you have to wear clothes, so you might
as well make them a business expense
and convert yourself and employees into
human advertisements.
Volunteer to speak for local clubs,
civic organizations, and trade
associations, and any place prospective
customers might gather. The key here
is not to deliver a hard sales presentation,
but use the engagement to promote
yourself and your business through
demonstrating
that
you
are
knowledgeable and have something
beneficial to offer.
Compile a customer list (it’s free)
and then utilize e-mail. Work that
customer base or mailing list via e-mail
as opposed to direct mail. The response
rate for e-mail is 10 percent or more
within 48 hours to 1 week, as compared
to less than 1 percent and up to 8 weeks
for direct mail. E-mail costs less than a
penny per contact, while direct mail
averages around $.50 or more per
contact. Always include some sort of
discount or special offer, and remember
to offer an “opt out” option for those
that do not wish to receive additional emails.
Marketing experts will tell you that
a small business owner should spend
around 50 percent of their time on
marketing, however, around 98 percent
of all small business owners state that
marketing is the toughest part of their
job. There are many more no-cost
marketing strategies. Read and be
creative. Hopefully, you will implement
Business Sense
and benefit from one of the strategies
listed here.
SBDC consultants can assist you
with your marketing efforts. Contact the
Georgia SBDC Network office nearest
you.
Cecil McDaniel is a business
consultant with the Clayton College
& State University SBDC. To find
your local SBDC, call the state office
at 706-542-2762 or locate it on the
web at www.sbdc.uga.edu.