Making The Most of Your Marketing Dollars
Today I begin a series that will be near and dear to the hearts of most business owners: Marketing on a Budget. As a Business Strategist developing plans and programs for the success of companies both large and small, I’m often asked to include a marketing plan in the initiatives that I create. There’s usually a caveat to that request though: ”But, I don’t want to spend a lot of money.” Small business startups, as well as established businesses, struggle with budget concerns at one time or another. This typically causes marketing dollars to be the first casualty of budget cuts. Bad move! There are effective marketing options that are available for little or no money. Use your marketing dollars prudently, and that budget money will turn into profits that are greater than you ever imagined! Over the next several days I’ll be sharing inexpensive ideas for marketing your business to both existing and prospective customers.
The key to effective marketing is to be constantly visible to your target audience in a consistent manner. First and foremost, keep in mind that everything that leaves your hand, your desk, and your office is a vehicle for marketing and publicity. Secondly, recognize that a successful marketing strategy is not one action, but the cumulative effect of all business actions. Keeping these things in mind, let’s begin with the easy stuff:
Business Cards Don’t out-think yourself by being stingy with your business cards. Perhaps the person that receives your card isn’t your ideal contact, but they’ll most likely know someone that’s been searching for a reputable provider of the very service in which you excel. Drop cards in fish bowls for drawings at local restaurants. Leave a brief note of thanks for good service on the back of your card as your leave the dry cleaner, the restaurant where you had lunch, the library, the auto shop, liquor store, anywhere that you have an ongoing relationship.
The Faberge’ Organics commercial that ran during the 70′s was offering Marketing 101 when it proclaimed ”I told 2 friends, and they told 2 friends – and so on, and so on…” Provide people with the ability to market for you. Business cards aren’t expensive. Give several away when you meet a prospect. Don’t hesitate to ask an existing client to share your card with others that they feel can benefit from your product or service.
It’s your business and no one is going to market it as energetically as you will, and most won’t market it at all if you don’t initiate the process! Be consistent in your efforts to keep your company visible to your target market constantly.
Today’s Challenge: Give away 25 business cards within the next 24 hours. Leave a comment on this post and let us know how you shared your card.
Thanks for your comments, Merrill! The old saying “You’ve got to spend money to make money.” applies in a number of situations; however, so often a simple change in habit or adaptation of a new process can cost little or no money and provide a gold mine in return. You’re so right, although budget considerations must be taken seriously, it’s imperative that a business not lose their position in the marketplace by disappearing into obscurity because of budget reductions in the wrong areas.
Great information Dale!
You’re right on target with your comments about companie that reduce marketing budgets.
It’s almost like the contrarian concept for investing – the best time to buy is when everyone else is selling.
Marketing is the same idea. Spend more on marketing, not less. Because the ones that do will have less competition from everyone else who’s buting their heads in the sand.
And when things turn around, the companies that people will remember are the ones that continued to advertise and promote.
For example: Some of the biggest companies in the country such as DuPont and Hewlett Packard (and more) started in the Great Depression.
And I like your idea about using business cards any time you can. Your suggestions, along with a business card that has a great headline and call-to-action could be a very powerful and inexpensive lead generation tool.
Merrill
Crestview Marketing Services