When a small business is starting up it usually does not have sufficient capital to market the product or service. However, one thing is for certain the business must advertise in order to promote and sell the product/service. Then how should a business owner market its product/service on a small budget?
When marketing product/services on a small budget the business owner must remember to make sure the promotional method is effective in reaching the target market, and that the method is consistent over a period of time. In other words, choose a form of advertising or promotion that appeals to the target market, and one that you can afford.
Listed below are some common promotional methods that business owners can use on a shoe string budget:
Distribute your business cards to potential customers. Carry your business cards wherever you go.
Make sure you have professional stationery to distribute via direct mail to potential customers.
Create a professional company brochure on the PC computer to distribute in target areas may be a good option.
Create a professional company brochure on the PC computer to distribute to the target market.
Develop your own database of potential customers, and send promotional material to them through direct mail.
Advertise in local community newspapers in your target market areas.
Join business networking groups in your local area.
Join your local business Chamber of Commerce and trade association related to your industry for marketing leads.
Joint venture with other businesses in advertising your product/service, and in providing a seminar or workshop for potential customers.
Customer referrals.
The key to a successful marketing strategy on a shoe string budget is to be "resourceful" in marketing your product/service.
