If you are on a limited marketing budget, only spend money on advertising that you can track and quantify. While branding techniques that “get your name out” are beneficial, it usually takes longer to see a significant amount of sales from this type of marketing. When your budget is limited, it is more important to spend money on advertising that will generate immediate results that you can attribute back to the dollars you spent.
Whether you are on a tight budget or not, niche marketing can be a very cost effective strategy. Rather than trying to appeal to everyone, tightening your focus allows you to appear even stronger to the ones you do reach. Find a specialty within your market that your competition hasn’t picked up on and go after those potential buyers with your entire marketing budget.
Consider going green with your marketing. Sending postcards can be pricy especially compared to email marketing. There are some rules to follow when sending email marketing (to be discussed in a future monthly email), but once you have a well established list of email addresses, this method will cost you hundreds maybe thousands less.
When choosing an advertising source, consider “reach” and “frequency”. How many people will my message reach and how frequently will they be exposed. When choosing one advertising method over another, pick the one that gets you in front of more potential customers more frequently.
Build a strong reputation in your market. Word of mouth referrals are the best means of marketing. Not only do they come without actually spending money on a marketing campaign, the leads you receive are usually much easier to turn into sales. Take good care of your current customers and hopefully they will reward you by telling their friends and family.
