Marketing is an important part of any business. It’s how we get the word out about our products and services to prospective customers and clients. If we want our businesses to be successful, marketing is not something we can skimp on.
Large companies spend millions of dollars on marketing each year to maintain their brands’ market share. But for most small businesses, there aren’t millions of dollars in the entire budget, let alone available for marketing. Large-scale advertising campaigns are not an option.
Some small businesses commit a large portion of their budgets to marketing. They produce elaborate ads and reserve premium ad space, have all sorts of fancy promotional items made, and sponsor lavish events. This helps them gain visibility, and possibly market share, but at what cost? In some cases, profits suffer unnecessarily due to overspending on marketing.
What these businesses do not realize is that marketing doesn’t have to be that expensive. There are methods of marketing that are not that costly, and some are even free. These methods may not be as flashy as the ones that cost lots of money, but they can be very effective. And in many cases, they have a much better return on investment.
It’s also important to note that you do not necessarily have to hire a marketing firm to do your marketing for you. While there’s no doubt that marketing professionals have an advantage because they know the business so well, it’s not impossible for a small business owner to handle most of his own marketing. It might take a little time to learn the ropes and make connections, but it can save you a substantial amount of money.
Some of the Best Marketing Is Free
There are plenty of marketing techniques that you can employ at a low cost. But did you know that it’s possible to get great results without paying a dime? Generating positive publicity can help a small business become well known and give potential clients and customers a good first impression.
Publicity is easier to get than you might think. Writing press releases and distributing them can get your business featured in newspapers, and possibly even on the TV news. You might be surprised at the things that the media will find newsworthy about your business. Some of the best topics for press releases include special events, correlations with national news stories, and joint ventures.
Marketing might seem impossible when you’re on a tight budget, but there are plenty of ways you can reach your target market without breaking the bank. Some methods have no cost except your time. Frugal marketing is alive and well, and it can provide great results for the small business owner.
Julianne Alvarez-Wish is a military wife, mother, homeschooling mom, business owner, professional writer, blogger and legislative advocate. She is the Colorado State Leader for the National Association for Moms in Business and the owner of The Wish Place. She is the Colorado Springs Stay-at-Home Mom Examiner for Examiner.com. She also blogs at A Wishful Thought. Her passion, purpose and goal is to help parents work from home so they can be home with their children.