Tag Archives: effective marketing

10 Low-Cost Ways to Market your Business

Too many small-business owners think marketing is like a trip to the dentist — something you just gotta do every six months or so.

But when marketing is continuous and targeted rather than occasional and shotgun, business gets easier. If prospects have a positive view of your wares and reputation before you call or before they start shopping, you’re that much closer to nailing a sale.

The next news flash is that ongoing marketing isn’t tied to a price tag. It’s defined only by putting the right message in front of the right person at the right time.

Here are 10 ideas for doing that — on the cheap.

1. Take steps to make customers feel special. Customers respond to being recognized, especially in these rush-rush, get-the-lowest-price times. “Even with a Web-based business, good customer service is possible,” says Denise McMillan, co-owner of Plush Creations (www.plushcreations.com), an online retailer of handcrafted travel bags. McMillan encloses a small, rose-scented sachet in every jewelry and lingerie bag she sells and also sends a handwritten thank-you note. “The sachet and note cost pennies but add something special to the purchase,” she says.

2. Create business cards that prospects keep. Most business cards are tossed within hours of a meeting. Instead of having your card tossed, create one that recipients actually will use — say, a good-looking notepad with your contact info and tagline on every page. “The business card notepad is referred to almost daily, kept for 30 days or so and carries a high remembrance factor,” says Elliott Black, a Northbrook, Ill., marketing consultant who specializes in small businesses.

3. Stop servicing break-even customers. If this idea makes you gasp, think harder. You’re falling for the fallacy of increasing sales instead of boosting profits. If you stop marketing to unprofitable customers, you have more time and resources for customers who actually grow your business. “More than likely, 20% of your customer base is contributing 150% to 200% of total annualized profit (TAP); 70% is breaking even; and 10% is costing you 50% to 100% of TAP,” says Atlanta marketing consultant Michael King. Take a detailed look at your customer profitability data and then direct premium services and marketing to customers who count. (Microsoft Outlook 2010 with Business Contact Manager can help you analyze customer histories.)

4. Develop an electronic mailing list and send old-fashioned letters. Most businesses have harnessed the power of e-newsletters — and you definitely should be sending out one, too. It’s very cost-effective. But exactly because e-mail marketing is now nearly ubiquitous, you can quickly stand out by occasionally sending personal, surface mail letters to customers and prospects. Just make sure the letter delivers something customers want to read, whether an analysis of recent events in your field, premium offers or a sweetener personalized for the recipient (a discount on his next purchase of whatever he last purchased, for instance). “This mailing has to have value to those that read it, so it reflects the value of what you offer,” says Leslie Ungar, an executive coach in Akron, Ohio. “Remember, the best way to sell is to tell.”The process is simplified by creating a letter template and envelope or customer label mailing list in Microsoft Office Word in Office 2010, which you can print out. The mailing list is easily created in Excel and then imported into Word.

5. Boost your profile at trade shows and conferences. You can quickly create signage, glossy postcards with your contact information, product news inserts or an event mini Web site — all with Microsoft Office Publisher. Check out its versatile features.

6. Combine business with pleasure — and charity. Spearhead an event, party or conference for a cause you care about. That puts you in the position of getting to know lots of people, and shows off your small business leadership skills. “I host an annual baseball game where I take hundreds of clients to a Cubs game at Wrigley Field,” says Kate Koziol, who owns a public relations agency in Chicago. “Last year, I took 300 people and we raised $10,000 for a local children’s hospital. Few people turn down a game and it’s a great networking opportunity for guests. It lets me reconnect with current clients and impress potential clients.”

7. Create a destination. Bookstore chain Barnes & Noble has its coffee bars. Furnishings giant Ikea offers child-care centers and cafeterias. Why? So customers gravitate to the stores to enjoy an experience, to hang out for a while. Sunday morning at Barnes & Noble becomes a pleasant weekend routine, rather than a shopping errand. Steal this idea. This tip isn’t limited to offline destinations, either. Using pay-per-click advertising, you can cheaply drive traffic to a one-time news event or specialty offerings, points out Jay Lipe, a small-business marketing consultant based in Minneapolis. Lipe set up a Web site for Games by James (www.gamesbyjames.biz), a retailer of board games, and quickly attracted customers via pay-per-click ads. “The effect was overnight,” says Lipe. “Traditionally in the marketing world, it takes weeks or even months to generate acceptable awareness and traffic. Here we saw traffic spike overnight.”

8. Become an online expert. This is the “free sample” approach to bringing in business. Research active e-mail discussion lists and online bulletin boards that are relevant to your business and audience. Join several and start posting expert advice to solve problems or answer questions. You may need to keep this up for a bit. But the rewards come back in paying clients and referrals. “E-mail discussion lists have been my single largest source of clients over the last eight years,” says Shel Horowitz, a small-business marketing consultant based in Northampton, Mass.

9. Court local media. Editorial features convey more credibility with prospective clients than paid advertising does. To get coverage from the local media, whether from the town newspaper, from TV or radio stations, or from trade journals, you need a fresh, timely story. It’s usually worthwhile to hire an experienced publicist to position the stories, target appropriate media representative and write and send press releases. Usually, you can work on a short-term or contingency basis.

10. Finally, don’t let customers simply slip away. Make an effort to reel them back in. It costs a lot less to retain a disgruntled or inactive customer than to acquire a new one. If you haven’t heard from a customer in awhile, send a personalized e-mail (you can automate this process), inquiring whether all is well. For a customer who suffered a bad experience, pick up the phone, acknowledging the unpleasantness and ask if there’s anything you can do. A discount can’t hurt either. Being kind to customers is the smartest low-cost marketing you can do.

Source: http://www.microsoft.com/business/en-us/resources/marketing/customer-service-acquisition/10-low-cost-ways-to-market-your-business.aspx?fbid=uMphmXSrgZ2

Posted in Marketing Strategy | Tagged , , , , ,

Three Effective, Budget-friendly Ways to Advertise Your Small Business Online

Pay-Per-Click Ads
I’m always surprised when a small business doesn’t take advantage of pay-per-click advertising. Usually they reason it out of their budget by saying that it’s only useful for big companies with a widespread brand — that couldn’t be more wrong. Google AdWords, for example, is one of the most targeted forms of advertising you can buy into. They even recently launched Google AdWords Express , which automatically determines the most common search phrases for your type of business and plugs your ad anytime those phrases are searched for by someone who lives close to you. If nothing else, it increases awareness as people begin to see your business’s name pop up in their search results. It is also cheap, and the analytics are easy to digest, so there isn’t any reason to not test it out at least once.

Blogging
Cross-blogging remains one of the best ways for people to find out about your business, especially if your business is based online. You send in a couple of articles to different media outlets related to your industry from time to time, and people will begin to see your name, your picture, and the name of your company popping up all over the place. Remember, though, that you can’t just write advertisements and expect the readers to only want to read posts about how great your brand is. We cross-blog with a few different businesses, and while the majority of our blogging partners are great, there are a few who think assaulting readers with a blatant advertisement about their company is a good use of a blog post. When you do blog remember that what you write needs to convince the reader to trust you enough to take your opinion seriously. Look to writing up posts on how-to topics, stories about your successes and failures, and lessons learned in the business to start building up trust and a distinctive voice for your company. If all your post amounts to is ‘BUY MY STUFF NOW BECAUSE WE’RE THE BEST!’ that trust will not be built.

Social Media Marketing
And that doesn’t just mean using Facebook, even though Facebook is an important part of any good social marketing strategy. Small business owners sometimes struggle with social marketing, unsure of what kind of content or message they should be posting, or even where they should be posting it. Facebook, Twitter, and Google+ are the main three sites your business should have a page on. Facebook and Twitter have a strong user base, and Google features Google+ profiles in local search results, making it easier for your business to stand out from the competition. As for content, it is okay to occasionally advertise specials and sales – these deals are one of the main reasons people follow the social accounts of businesses – but mainly social marketing should be used to better connect with your customers and keep your business at the forefront of their mind. If you constantly advertise, they will either tune you out or unfollow your accounts. They are doing you a favor by following you and allowing your business to maintain this ongoing conversation, so treat that relationship with a bit of respect. Unless you outsource or hire someone else to handle them, the biggest expense that cross-blogging and social marketing accrue is time. Pay-per-click advertising, especially if you are a smaller business, costs very little. But all three of these new marketing channels can really help new customers find your business, as long as they are used correctly. A well-placed Google advertisement and active Facebook profile may not get you the same attention as a $4-million Super Bowl spot, but it will help your business to grow and establish strong relationships with your customers.

Source: http://www.huffingtonpost.com/deborah-sweeney/three-effective-budget-fr_b_3690082.html

Posted in Online Marketing | Tagged , , , , , , ,