by Debra Howard
Sales have declined in the last couple of years and you’ve been forced to cut back on everything: employees, vacations, equipment for the business and so forth. You are running a small business and cash flow is extremely limited. How can you justify placing an ad when you are worried about making payroll? You need more customers but what can you do?
Begin with Existing Customers.
To start with, take advantage of existing customers. Hopefully, you have built a mailing list or email list of clients and can start with some direct mail advertising. If you have neglected to collect this information, start NOW! Offering current customers an incentive to buy from you or encouraging them to refer your business to someone else is an inexpensive way to jog their memory about your business and what you offer.
Depending on your business, email or direct mail advertising can offer two incentives for the price of one. For example, if you are running a special sale, offer a coupon for the sale and if they buy, reward them with another coupon for the following month. It is also a great way to track your ROI from your marketing efforts.
Getting the Most from Your Website.
Don’t neglect your website when you are offering a sale or doing something newsworthy. If you haven’t updated your site in more than a year, it is definitely time to add new content and images. Tell your potential customers about any new products or features you are offering as well as adding a “What’s New” or “Company Buzz” page if you don’t already have one. Adding informative articles about your particular industry or products helps customers stay abreast of the latest innovations and also reinforces your professionalism.
Adding a blog is another great way to interact with customers and offer up last minute sales and announcements without contacting your webmaster. Just make sure that you include your website address on EVERYTHING: invoices, business cards, outdoor signs (if applicable), advertisements, letterhead, newsletters, brochures, and so forth.
Additional tips.
Tying your marketing efforts with a local charity is another great way to encourage customers to buy as well as generating some goodwill for your business. For a limited time, donate a percentage of sales to your favorite charity. Make sure to get the word out to the media for additional exposure. If you have a company newsletter, do a feature story on the organization and why it is a worthwhile cause.
Offering free workshops or seminars is yet another inexpensive tactic to encourage customers to patronize your business and set you apart as an expert in your industry. Volunteer to be a speaker at business networking clubs and go armed with inexpensive promotional marketing gadgets to distribute such as pens, magnets, notepads, and so forth. Brainstorm with employees for additional inexpensive or no-cost marketing ideas that will generate a little buzz and some new business. Having a limited advertising budget can be a plus because it forces you to get creative. After all, what do you have to lose? You may just stumble on to a low-cost, winning method for attracting new customers!
We invite you to share some of your marketing tips that have proven successful for your business. What guerilla marketing technique have you used that has delivered the best ROI?