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Last Updated on January 20, 2024 by Work In My Pajamas
Marketing your small business can be a daunting task. Advertising can be expensive and how do you choose which will type of marketing will be the best return on investment? Here are a few tips to help you move in the right direction.
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Reach out to your community
Instead of spending money on expensive television advertising, a small business like a restaurant or dentist’s office can sponsor a local sports team. Local recreation departments offer sponsorships of youth soccer and baseball teams and it can be awesome marketing to have your business name on the backs of a dozen little kids running around a field. Your business name will also be on various sports schedules. For a few dollars a restaurant can get a lot of visibility to people in their community who would be interested in supporting them.
Network, network, network!
Going to those networking events at your local chamber of commerce may seem like a chore but it’s a great way to meet people and get your business name out there. It is also a great way to form partnerships and find different ways to cross promote your business. Some groups have their own networking groups such as restaurant and hospitality groups and what better way for a company like Budget Restaurant Supply to get involved and make new contacts.
Have you ever heard of an elevator speech? It can be used in many different instances from fundraising to sales. The purpose of the elevator speech is to have a short, concise prepared pitch ready to go that you can deliver in the amount of time it takes to travel several floors in an elevator. This actually does happen and you need to be able to grab their attention quickly and make them remember you and your business. Always make sure you have a business card handy so they can contact you for further information.
Save money elsewhere in the business
If you’ve got an eye on that billboard by the highway that is up for lease or you know you need to update your company’s signage, see if there are other areas in your business where you can save a little money. Saving money in other departments can help put more of your budget towards an effective marketing strategy. For example, a small restaurant can save on supplier costs by visiting Budget Restaurant Supply and other budget-friendly suppliers.
Give a seminar
Sometimes it’s beneficial to put on a seminar to draw in new customers. Certain businesses like financial or retirement planning companies will make a lot of contacts if they give a seminar on a specific topic that people are interested in. This is a great way to get referrals since people will attend to find out more about the topic but they will end up contacting you when they find out they need your professional expertise.
These are just a few tips to help market your small business. Depending on the type of small business, certain strategies work better than others but just remember to always be prepared to talk about your business and how it will benefit potential customers.
