Marketing On A Budget

Marketing on​ a​ budget
Many business owners put off beginning to​ market their business until sales increase .​
While this may make perfect sense to​ an​ accountant,​ it​ is​ more often than not a​ poor choice for a​ business owner to​ make because until something is​ done to​ increase the​ sales they will usually stay where they are or​ decrease.
It can often be difficult for established companies to​ set aside the​ time and financial resources necessary to​ effectively market their company,​ and it​ can seem impossible for a​ fairly new company .​
You can solve half of​ this equation almost immediately by hiring a​ professional marketing company .​
Now you​ just need to​ figure out where to​ find the​ financial resources to​ complete the​ other half of​ the​ equation .​
This can be accomplished with a​ little bit of​ research .​
There are many reputable marketing companies out there that will be willing to​ work with a​ company that may have limited financial resources but under the​ circumstances you​ will need to​ be realistic with your expectations.
Most marketing companies probably won't be willing to​ offer you​ extended billing terms .​
They have to​ cover themselves financially and if​ you​ are unable to​ make the​ investment now they may feel that you​ will be unable to​ pay them in​ the​ future .​
You may have to​ work with them for a​ while before they will be willing to​ offer you​ any sort of​ extended billing terms .​
Don't take it​ personally - you​ don't expect to​ walk out of​ the​ grocery store with a​ cart full of​ groceries and then pay next week .​
Until your marketing company is​ comfortable with the​ situation you​ shouldn't expect any different .​
If you​ don't have the​ resources available to​ invest in​ your marketing then you​ may want to​ consider taking out a​ personal loan from your bank or​ using credit cards.
Some of​ the​ marketing companies that you​ approach may be willing to​ reduce the​ price of​ their services to​ help you​ get started .​
If this option is​ available to​ you,​ it​ can make a​ significant difference in​ what you​ can accomplish with a​ particular sum of​ money .​
There are some things to​ consider in​ this scenario .​
If you​ are paying reduced rates you​ should expect that the​ marketing company may not be able or​ willing to​ meet with you​ and take your calls at​ times that are convenient to​ you​ .​
By offering lower rates they may need to​ fit you​ in​ when they are able to​ .​
Most will also not offer extended billing terms for clients that are already getting reduced rates.
If you've gone through all of​ the​ marketing companies but have been unable to​ find one that you​ felt comfortable with and would work with your situation,​ then you​ may be forced (at least temporarily) to​ handle it​ yourself .​
This is​ still a​ workable situation - you'll just have to​ be creative and put a​ little more time into it .​
Below are some tips to​ stretch your marketing dollars.
1 .​
Produce a​ co-op brochure or​ direct mail piece .​
You can collaborate with other companies related to​ your business but in​ non-competing niches .​
For example,​ if​ you​ own a​ restaurant that specializes in​ authentic Mexican cuisine,​ you​ could find a​ grocery store that specializes in​ Mexican foods and produce a​ brochure or​ direct mail piece with them .​
This would cut your cost in​ half and allow you​ to​ expand your exposure,​ you​ would both benefit from a​ similar clientele,​ and you​ could both immediately benefit from each other's existing customers.
2 .​
Offer to​ volunteer your services in​ exchange for recognition .​
If you​ owned a​ catering company you​ could offer to​ cater a​ networking event in​ exchange for them mentioning your company in​ their handouts .​
You now have the​ opportunity to​ market your company to​ all of​ the​ attendees of​ the​ event.
3 .​
Offer to​ do a​ Q & a​ session to​ the​ public on​ a​ local talk radio channel .​
They usually discuss various subjects throughout the​ course of​ their radio program and many companies have used this to​ their advantage .​
a​ mortgage broker using this method of​ marketing would quickly be established as​ a​ local expert and would remain in​ their prospects minds since they would hear them at​ least once each week.
4 .​
Offer a​ contest to​ create a​ buzz about your business .​
a​ great contest for a​ car dealership would be to​ offer contestants the​ compete to​ win a​ car by simply putting there hand on​ a​ part of​ the​ car and not allowing them to​ move it .​
As the​ contestants become fatigued they will move their hand from the​ car,​ becoming disqualified .​
The last person remaining wins the​ car .​
Many car dealerships have used (and continue to​ use) this method with much success because people will usually jump at​ the​ chance to​ win a​ car and it's the​ sort of​ thing people talk about.

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