Marketing your business doesn't have to cost the earth
by Haines Watts on 18 April 2012
Confused about which marketing will work best for your business? There are some basic rules that should help your business grow for very little outlay.
Spending vast amounts of money doesn’t always equate to new business. Many companies spend with little return on their investment.
So if you have a tight budget where should you direct your efforts?
Your current customers are probably your most valuable marketing resource. They already know and trust your business. There’s nothing more powerful than word of mouth.
Ask them to recommend you online to spread the word. Giving your customer a small gift when you have got business from a recommendation or just a simple thank you can make a huge difference.
You may have forgotten another great marketing asset at your disposal: your staff. Get them involved in business development and ask them for their ideas for bringing new business in. Reward those who bring in new sales.
Not all digital tools will be effective for all businesses. Don’t get carried away by tools or techniques just because they are in fashion. But don’t ignore the undeniable potential of the web either. A good website is a basic tool every business should have. Having a great website can take a small business from a small marketplace into a global marketplace.
Is social media all it’s cracked up to be? Well, it really depends what business you’re in and where your audience ‘hang out’. The three main social media sites today are Facebook, LinkedIn and Twitter.
Many companies launch into social media because they think it’s easy and cheap. Making social media work for your business is harder than it looks and does take time and effort.
Look at the stats on the audiences. If their users hit your target market then look at how other businesses are using it and have a go.
The whole idea of social media is to have conversations online. You ultimately need to form one to one relationships for it to have any chance of bringing in business for you. So many people go on these sites, create a profile or an account and do nothing else with it. They then moan that it hasn’t worked! Imagine it like face to face networking. If you walked into a networking event, stood in the corner for an hour and didn’t have a chat with anyone, by the time you walked out, you would think the networking event was a failure – but that’s simply because you didn’t put any effort into it. Social media is exactly the same!
Don’t neglect ‘real life’ networking – social media works well as an extension of face to face networking. Trade associations, or groups where your types of customers may congregate, can all lead to new business.
1) Set aside time and keep reviewing your marketing strategy.
2) Plan your activity and review your budget regularly.
3) Look at your return on investment and be prepared to tweak along the way.
4) Spending vast amounts of money does not always equate to new business.
5) If it’s worked before, stick to it. If you have tried-and-tested ways to win business then don’t neglect them.
If you want further information, use our online form to get in touch.