Establishing a business is one task but promoting it for more visibility and sales is another ball game entirely. The end goal of starting a business is to make sales and increase ROI but these would be impossible without proper marketing and promotions.
One of the major challenges of small business owners, aside finances, is determining the most efficient and cost-effective methods of promoting their businesses. Small businesses are presented with a plethora of marketing and promotion strategies to explore, but how do they know which one will pay off in real ROI?
As a small business, you may not need to contract a professional for marketing activities, as there are some low budget and do-it-yourself promotion ideas you can execute. Here are some cost-effective marketing ideas you can implement for your business.
DEVELOP A SYNOPSIS FOR YOUR BUSINESS: A synopsis is a summarized document detailing what your business is all about and the solutions you offer. Your synopsis should give a listener reasons to be interested in learning more about your business.
It should state in clear terms your business name, products/services, locations, mission statement, goals and objectives, unique selling point and target audience. Practice your pitch synopsis well enough to be able to grab the attention of your target audience in seconds.
PURSUE REFERRALS: One of the fastest and most effective ways of promoting your business is to ask for referrals from satisfied customers. This method would barely cost you a Naira because your work already sells your business.
A major strategy to adopt when asking for referrals is to ask open-ended questions such as ‘Can you please refer us to someone who may also need our services?’ This way, you have eliminated the possibility of a yes-or-no answer. Also ensure that you regularly ask for referrals but refrain from continuously asking the same clients.
EMPLOY DIGITAL MARKETING: It is almost impossible to find any business without social media presence nowadays. However, it takes consistency to successfully attract customers from social media or keep existing ones. The strategy for efficient social media marketing is to only create accounts on platforms where your target audience operate.
You are too busy to update your social media accounts? There are free scheduling tools that can be used to automatically publish your previously logged in posts. Paid ads are also another effective social media promotion method to place your business right before your target audience. Aside social media, small business owners can leverage the Google Business listing platform to ensure their businesses feature on the biggest search engine platform in the world.
REQUEST FOR TESTIMONIALS: What better way to gain the confidence of your target audience than shiny reviews or testimonials? Research has shown that consumers have increasingly checked online reviews to make their decisions about patronizing a business or not. Reviews on your social media pages, website or on Google can increase your sales astronomically.
GUARD YOUR EXISTING CUSTOMERS JEALOUSLY: It is cheaper to keep customers who already know and interact with your business than gaining new ones. Always talk to your customers about your products, new offers, and request for feedbacks to improve your products/services.
GUEST POSTING: Depending on the type of business, writing articles for popular blogs can give your business the visibility and surge it needs. Business owners can position themselves as an authority or thought leader in their industry by volunteering to write for media outlets who are hungry for content.
Ultimately, you do not need an expert or a large budget to promote your business. These methods can create awareness for your business and increase sales if properly executed.