The main objective of every entrepreneur is to get as much profit as possible with minimum expenses. To achieve this, practicality should be the partner of a business. Before shedding out any amount, they need to check if they are getting the best deal for it. If not, they would just lose money on something that is not profitable.
Marketing is a need of every business. There are a lot of ways to market brands, products, or services. However, not all are practical depending on the size and circumstances of the business. For instance, mass media advertising is an effective strategy for large companies. An example of this is TV ads which can successfully catch the attention of the audience. The only setback of mass media advertising is its impractical cost. Impractical because businesses will spend much on TV, radio, print, or billboard ads—we all know that ads are kind of expensive—without the assurance that they will get the desired return of investment. This is the reason why this strategy is risky to medium and small scale businesses.
Less risk marketing
If you are an owner of a small or medium business, mass media ads could work for you. Nevertheless, if you do not have budget for it, then there are different options for you. There are other marketing strategies that are less costly but are effective as well. You can follow these practical tips on promoting your business without spending on ads.
- Make your establishment attractive
One way to promote your business is by making your office, shop, or establishment pleasing to the eyes. If your place needs repainting or light enhancement, then you really have to spend on this. However, this is necessary and the effect will be long-term. No one would want to go into a shabby, hot, and dirty shop when they could just go to posh and airconditioned malls. Moreover, if your business is café, restaurant, or hotel, make your place look comfortable and elegant for your target customers who want to be refreshed. An office would look more credible if it looks formal and modernized. Therefore, do not hesitate to spend on the beautification of your business establishment.
- Sponsor local activities
Sponsoring activities is one way of advertising. However, this is cheaper than TV and radio ads since local organizations are usually not expensive. This is effective if your goal is to market to the local area. This can also serve as a PR move since your business will be seen participating in local activities and interacting with the community. If an organization comes to your office or shop and they want to get you as one of their sponsors, then grab the opportunity immediately. Usually, the sponsorship fee is not that much depending on the kind of activity.
- Offer promos and freebies
Customers love discounts, freebies, and other promos on their favorite products or services. You can take advantage of this to get their attention. This is best to do during special seasons like Christmas or Valentines. For instance, you can offer 10% off on certain chocolates or cakes for such occasions. If you own a restaurant, you can give free juice refill to diners from 6PM to 10PM. This kind of marketing is effective if your business is just starting.
- Expand your connection
Being the owner of the business, you can capitalize on your social life to make your brand name known. By building connections with influential people in your target community, then you will expand your territory. Once you establish relationship with them, they can help endorse your business. They would not even have to promote it intentionally. Just the mere visitation to your shop or office or use of your product or service can encourage other people to do likewise. Furthermore, you can get access to their networks, and that means a larger market for your business.
- Support an advocacy or cause
Another PR strategy for your business would be supporting a cause that matters to the society. You can look for organizations which push relevant advocacies like community cleanliness, wildlife and natural resources preservation, street children education, and the like. By doing so, you are not just expanding the connection for your business, but you will also get the trust of your community. It will be easier to promote your services or products then.
- Organize an event
Aside from sponsoring a local activity, your team can organize your own event. Think of interesting activities that can attract attendees or participants. Of course, you need to determine who your target people to invite are. Then, your theme or activity should depend on them. For instance, if your business is a workout gym and your target group is men who want to tone their muscles and stay fit, then you can organize a bodybuilding contest. Activities like this can attract audience and they will recognize your business. Soon, those who want to achieve a body like those of the participants would find their way to your gym.
- Create social media accounts
Of course, we are in the digital age, so your business must not be left behind. Make sure your brand is visible on the Internet by creating social media accounts for it. Sign up on Facebook, Twitter, Instagram, Google Plus, and others. These accounts can help you to reach out to the people in your community. You can post enticing photos and updates of your products, place, or even special visitors on your pages to advertise your business. Moreover, you can interact with the followers or friends on these accounts. By building relationship with them, you are working to get their loyalty to your brand name.
In business, you need to be practical in every step. For this reason, you need to consider all the available marketing options first before jumping into mass media advertising. Moreover, before you invest so much of your effort on marketing, your team needs to ensure the quality of your products or services first. Getting satisfied customers is the best marketing strategy. They will not just come back, but they will also spread the word about your business.