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Ways to Market Your Business With a Low Budget

  • December 19, 2019
  • By Sarah Solomon

When budgets are tight, many people tend to cut marketing first.  REIL is here to stop you in your tracks. Marketing is essential for small businesses, let alone any business. There are cost-effective marketing methods. You don’t have to break the bank to get your message across.  Here are some marketing strategies to help you market your small business while working with a low budget. 

Elevator Pitch 

Your business is like your child.  Show it off, give a compelling elevator pitch.  Grab your friend or a business owner’s attention.  Successfully engage them and really sell them on your product or service.  This creates interest, that will hopefully turn into an opportunity. The best part, crafting a great elevator pitch costs nothing. 

Think Locally 

It’s easier to market to your community, then the whole wide world.  As a small business, your community should be one of your target groups.  Find out what’s going on in the community. Sponsor a little league game or charity event.  Print out flyers and leave them at your local deli. Think of your ideal customer and figure out where they spend their time.  Market there. The opportunities are endless to get in front of your potential customers. 

Cross-promote 

Work with other businesses in your area.  Cross-promoting is extremely cost-effective.  For example, when locals attend the grocery store have the grocery store print out a coupon to your store on their receipt.  By collaborating with each other, you can both expand your customer base. 

Ask for Reviews 

Your loyal customers should have a lot of great things to say about your business.  Ask for reviews and referrals, don’t be shy. Offer a reward system where if one client refers another, each gets a discount.  Reviews and referrals give people a lot more confidence to try out your product/service. If you aren’t asking for them/ providing a platform for customers to leave reviews, you are missing out on plenty of opportunities. 

Email Market

Any time a customer visits your store or business, attempt to get their email address.  Keeping customers in the loop is great especially when you are providing discounts or coupons.  Keep your emails informative, helpful, and professional. Eventually, these emails will be one’s your customers look forward to receiving. 

REIL Advice 

Marketing does not have to break the bank.   There are many ways to market cost-effectively. All it takes is a little research and some creativity.  If you are looking for ways to market your business, reach out to one of our REIL representatives for advice.  Feel free to seek the funds you need from REIL to kickstart your marketing program.  

 

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