Limited Funds Doesn’t Mean Limited Marketing

A small business has a great product to offer potential clients but the marketing budget is close to or in the red. Is there any hope of spreading the word and avoiding a major financial issue?

In a day and age when small businesses are attempting to do more with less, effectively marketing one’s company when funds are tight can be like walking on egg shells. 

That being said, business owners should remember that they don’t have to blow up the marketing budget to reach out to potential customers. Employing low-budget marketing to inform the public what they have to offer them, can definitely lead to increases in sales revenue.

Knowing the Audience

Most importantly, small business owners need to know their audience and how they and not the competition can assist customers. In doing so, they should ask themselves several questions and be prepared to provide the answers:

• What message are they trying to get across to current and potential customers?
• What makes their product/s different from that being offered by the competition?
• What marketing methods have they used up to this point? Which ones have worked and which ones should be shelved?

Assuming they can provide answers to those questions, they are best served in reviewing their marketing budgets for the last few years and looking to see what they spent. If they’re spending too much and not receiving the desired results, then it is time to rethink their strategy.

Among the ways to get the message out and cut costs are:

• Network through social media sites like Facebook, Twitter, etc. to spread the word regarding their small business….it is free! If they have not already, it is a good idea to join relevant professional groups in their community.
• Start a company blog and be available as an expert in their line of business to local media.
• Team up with companies that offer special advertising deals. In a tight economy, many businesses are watching their pennies.
• Obtain feedback from current customers to determine what is and isn’t working. Current customers can also serve as a company’s best mouthpiece.
• Unless the message isn’t working, repeat it often. The idea is to have the consumer recognize one’s brand without a second thought.

Many small business marketing budgets have been sliced and diced in recent bad economic times, but that is not the case everywhere.

For small businesses that are willing to market themselves in the good times and bad ones, the rewards can be worth it.