Marketing with Low or No Cost

Have you ever wondered on generating sales or promoting your business with low or no cost? There may be a lot of things done in promoting with low cost, but how about with no cost?

Over the years we could see that most entrepreneurs spend too much time and money on promotions – it may be fliers, newspapers or social media. They waste time, effort and money on marketing strategies that may boosts their egos through local exposure, but don’t actually translate into sales.

Entrepreneurs, especially small business owners, should first focus on networking with other area businesses, major employers, schools and other organizations. If you are one of them, then you must establish more networks and then create marketing strategies and events that are beneficial to all parties.

Think about of these marketing ideas before breaking out your money:

  1. Hand shake and business card. Meeting people personally is the best promotion you could ever get. You may be a business owner, general manager or supervisor, make a point to know new people every week – introduce yourself to these people. Converse with them if they have been transacting business with your company, ask for feedback and offer them something. If they haven’t tried or visited your company, try pulling out your business card, write a special freebie offer at the back, sign and date it. Chances are, 74% of people you have met over the year will use your business card coupon and about 35% will become your new customers. It’s a matter of conversing with people you met on a bus, you bumped into a restaurant, you met in a supermarket, etc.
  2. Cross-promote with other local business owners. It’s time for you and your buddies to tie-up business with each other. Provide a special certificate for other local businesses to pass out to customers with a special offer from you – compliments of them. You get your advertising handed out for free, and your business buddies gets to offer their customer advantage.
  3. Offer loyalty card. When I went on a supermarket, my mother-in-law handed me a loyalty card from the supermarket and told me to go shopping on that supermarket so my bill could be added as a point to her card. It was a great deal, she told me that after few months using the card, she could buy groceries amounting Php1, 000.00 – Php2, 000.00 using her acquired points. It was something! Anyways, your customers gets to pay for their own card, it really catches up the name “loyalty card”.
  4. Make secondary consumers your individual and primary customers. Ever have special circumstances in which you provide products or services to a group of people who normally aren’t your customers? Maybe you own a photography services and you get to accommodate events – weddings, birthdays, etc. or you organize events. Each of these people you’re providing products or services to could also become individual customers. So besides catering your client, provide each of the 420 guests with certificates offering them each 5% discount upon availing one of your services. Or, provide a thank you card containing your complete business name, contact information and business address. Chances are good that 35% of those 420 certificates will redeem their discounts, and 30% of such will be first-time buyers. So you still made some revenue and got a chance to impress 50 customers who might turn into regulars.
  5. Support fundraisers – creatively. A company who supports fundraisers would definitely achieve exposure and goodwill, but more importantly got new people in the front door spending money. Why? People are emotionally receptive, especially with someone helping the needy ones.

These marketing strategies don’t eat much time. The cost little, but absolutely generate sales and business. They use a business’s own product as the incentive to drive people in — instead of major media expenses.

Even though there are some costs to the products and services given away, the risk is small because people would show up and buy some things to catch up with the savings. And once they see and tried how great your products and services are they will absolutely patronize you.

What can you say about it?


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