This is a guide to marketing a new business – from advertising to sign printing (and a few things in between).
When you’re starting a new business with a tight budget, it can be tricky to prioritize what you should spend your money on. For many new business people, the marketing budget can be one of the hardest things to figure out – how much to spend? What are the essential marketing elements to focus on? Should you run a traditional marketing campaign or try something new to stand out from the crowd like implementing an experiential marketing approach?
Marketing actually touches on most facets of your new business – everything from email marketing to sign printing. If you don’t have a clue on where to start, let us help you market your business on a shoestring.
Talk fast, really fast.
Ever heard of an elevator pitch? No? Let us tell you – every new business needs one. An elevator pitch is essentially a ‘what’s what’ of your business that you can deliver in the amount of time it takes to go up in an elevator. This seems no time at all, but when research has shown that the average adult has an attention span of around eight seconds, it makes sense that you need to deliver a quick pitch. Invest the time, and we guarantee it will be worth it.
That’s right – think local. It’s not always about going international straight out of the gate. Get your local community on the side first. Sponsor an event or see if you can get promotional materials printed, and hand them out somewhere. If it’s something people can use, like a pen or a bookmark, that would be even better.
Cross-promote to share the cost.
You can find other businesses that aren’t direct competitors that will work with you to cross-promote. Bundle products together for sale, offer contra-advertising deals and coupons. There are tons of things you can do that will benefit both of you.
Network, network, network.
Networking doesn’t come naturally to everyone, but it’s critical if you want to get your business off the ground. Put yourself out there, introduce yourself, and shake hands. Practice makes perfect, and the rewards will be great.
Build that buzz.
Buzz is vital, but you don’t need to spend a fortune on a PR professional to build one for your business. Some websites can help you out. Also, you can start small. Work with local radio and TV stations. Make sure you answer press queries in a timely fashion, so you don’t miss any great opportunities.
It’s a fact of life and business, that it’s a lot cheaper to retain customers than to get new ones. That means that as soon as you get a new customer, you need to put some time and effort into keeping them happy. Keep in touch with them, check in with what they need from you, and keep your tone helpful and professional. Trust is the way to build your base.
And that’s about it – inexpensive yet effective marketing strategies for a brand-new business. You’ll be stratospheric before you know it.