Saturday, June 11, 2011

Top 5 Cost Effective Marketing Tips for Small Business


by Kelvin Wong

In today’s hyper-competitive business environment, and costs are on the rise. A proper cost control is required to ensure effective operation of business, more importantly, the competitive product or service. Here are top 5 cost effective marketing tips, without breaking tight budget, to help any small business to find customers and generate sales quickly.

1. Try Unusual Marketing Methods
Consider some unconventional marketing methods that your competitors might have overlooked in order to stand out from the competition. For instance, print your small advertorial on a paper and/or postcard, and mail it to your targeted market. The latter can drive a high volume of traffic to your website or generate a flood of sales leads at a very small cost.

2. Joint Promotions with Other Small Businesses
Contact some non-competing (but inter-related) small businesses serving customers in your market. You can offer to publicize their products and/or services to your customers in exchange for their publicizing your products and/or services to their customers. This usually produces a large number of sales at a very low cost.

3. Trim the Ads
Reduce the size of your ads so you can run more ads for the same cost. You might be surprised to find that some of your short ads generate a better response than their longer versions.

4. Offer a Premium Version
Price point isn’t a case as not all customers are looking for a cheap price. Customers are willing to pay a higher price to get a premium product and/or service from you. You can boost your average size per sale and your total revenue by offering a more comprehensive product and/or service.

5. Don't Advertise Like a Big Business
Big businesses advertise to create brands and names recognition as well as future sales. A small business might not be able to afford. Instead, consider designing your advertorial to promote you products/services via off- or online. One way to accomplish this is to always include an offer in your advertising, and it’s an easy way for potential customers to respond.



6 comments:

  1. Nice post! I enjoyed reading as it was very informative about marketing techniques. I think blogging is an effective method of promotion among all which creates a strong online presence, helps in spreading company's brand name and brand awareness. Thanks for sharing.
    Cheers,
    Susan Smith.

    ReplyDelete
  2. Great post! Thanks for sharing this message, it is very very helpful!

    Felix Wang
    Taipei

    ReplyDelete
  3. Thanks for the post!

    ReplyDelete

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