Low-Cost or Free Small Business Marketing Ideas

The economy has forced both large, corporate marketing departments and small businesses to reevaluate and reduce their advertising budgets. The Association of National Advertisers reported in August 2009 that 74% of marketing departments were reducing their marketing budgets. At the same time, it is likely you are seeking new customers to replace those that may have left for economic reasons. We have ideas for you to continue marketing for little or no money!

There is no need to completely eliminate your traditional marketing efforts like print advertising or direct mail. But now is a good time to try some of the new methods also. Right now, you need to be trying everything out so you can see what works and what doesn’t. With these methods, there is no harm or loss in trying!

Social media is the most talked about of all of these marketing trends. By interacting on Twitter, joining groups on Facebook and LinkedIn you expose a large number of new contacts to your business. Be diligent. This form of advertising through “relationship building” takes time.

Treat your current customers like the gold that they are. Personally pick up the phone and call to thank them for their loyalty. Send them a card or note in the mail. Stop by where they work to say hello. Don’t peddle. Let them know you are seeking new business but do not make that the reason for the contact.

Build a referral network. What is this exactly? Essentially it is a network of individuals who refer business to one another. Let your accountant, your attorney, your doctor, your computer maintenance person or anyone else that you do business with know that you are looking for new business. Let them know you’d be glad to refer to them if they would do the same. Feel confident in those people you refer business to! But be sure to let your trusted contacts know you are seeking referrals.

A great way to meet like-minded people you respect, and to build your own reputation, is through community involvement. Whether you are volunteering at a soup kitchen or for Habitat for Humanity, you get the opportunity to tell people what you do while providing a genuine service. You can also let people know your business is involved with certain organizations by adding their logos to your website.

A well-developed spiel about your business is important so you can answer the question “What do you do?” with aplomb. This presentation is called your “elevator speech” because it is short enough to deliver on an elevator ride. Be sure you flesh it out a bit if you are in a traditional business. If you own an auto supply store, don’t just say that. Say “I own a business that supports both casual drivers as well as car collectors by carrying one of the largest inventories in the area. What kind of car do you drive?”. This opens up a whole new conversation.

Spend some time making sure your blog and website are search engine optimized (SEO). SEO improves your rankings on major search engines like Yahoo and Google and is improved through using links, changing your category titles or using good keywords. You can do much of this yourself. If you lack confidence, get some help. I can give you insights into this and have articles on this topic on my website.

I have a wealth of information about marketing for small business and entrepreneurs on the My Small Business Mentor website and blog. Check it out!

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