For every serious business person the ultimate goal of running a company is to make it visible, recognizable and ultimately earn money. No matter how big or small your company capital is at the moment you are launching it, you’ll anyhow need to invest patience, time, money and careful planing into building of your brand and becoming your customers’ favorite choice.
Let’s assume you are a small business with a limited marketing budget. You have a product you are not sure how to launch without busting the bank. Well, we’ve got good news. There are a few tricks you can use and these tricks are exactly what every businessman should hold up his sleeve for rainy days.
1. Customer rewards are relevant
Both new and old customers matter but you need to be aware of the fact that winning a new customer is approximately five times harder than retaining an old one. This doesn’t mean you should neglect the latter, it only means you’ll need much bigger effort to catch the attention of the new people you are trying to attract. This is why we recommend you opt for customer reward programs to acquisition marketing as they are a lower-cost alternative and are effective. You could start by creating and promoting a loyalty program that rewards on enrollment. Naturally, nobody would want to “work” for nothing, so you need to provide a reward, a form of graduated incentives to your best customers. Provide in-kind rewards rather than gifts from other vendors – they will make the whole journey personal and will keep customers coming back.
2. Opt-in e-mail
E-mails are a bliss and such a save for everyone’s budget. They are an amazing, fast and effective way to stay in touch with your customers, build long-lasting relationships and increase sails. You can rely on an e-mail to be your advertisement, sent out in weeks, not months.
Most business people opt for sending out their promo e-mails no more than two times a month. BUT, it’s important to respect your customers’ wishes and send out letters only to those customers who were into your newsletter.
When sending emails, make it your priority for them to be concise, relevant and easy to reply to. If you follow this pattern, you’ll see response rates climb.
3. Marriage mail
If you are looking to reach consumer households in specific market areas this may get a little tricky as your own direct-mail campaign could cost a small fortune. To avoid spending loads of money, use “marriage mail“. By sending your ad or coupon in a joint mailing with other advertisers you will save money yet grab your customers’ attention.
4. Local paid search may save you
This is something most people don’t know, yet it’s pretty relevant when it comes to doing business. Research has shown that, before making a purchase, the vast majority of American shoppers do research online in order to explore their options. It’s not that they don’t know what they want to buy – they just want to explore their options and see what prices are happening. Among others, Google and Yahoo! offer services for local advertisers.
And, even if you don’t have your website (you should start one as soon as possible, by the way), Yahoo!’s Local Sponsored Search program provides a locator page that will drive traffic to your store regardless.
To increase the possibility of getting noticed, always have display stands at local fairs. This is a sure way to catch your potential customer’s eye.
5. A PR campaign is relevant
A PR campaign may either make or break your company. It’s important to be aware of this fact so you can make wise plans and avoid total doom. Since you are on a limited budget, investing in top PR companies isn’t really an option for you at this stage. This doesn’t mean you’ll stay without a campaign, though. What you can do is do it yourself. You can always previously consult someone on where to start – consultation costs less than PR engagement itself. Tailor your stories to the needs of the individual media outlets on your list. After you have, send a release or pitch letter, and follow up by phone. If you act professionally, the contacts you make now will remain groundwork for ongoing relationships with key members of the press.
If you are serious about launching your business the proper way and have long-term positive results, be patient and have a well thought out plan. Hopefully, these steps will help you in coming up with a perfect business plan for your business.