It’s a common situation: you need to market your business, but you don’t have the capital to do so early in your company’s operations. The dilemma is difficult. You can’t generate business without marketing and advertising, but you need money for marketing and advertising. Unfortunately, many of the small businesses will fail as a result of not advertising their products or services.
These tips will keep you from becoming a statistic:
1. Take Marketing Risks
You wouldn’t be in business if you weren’t willing to take risks. You may have taken out a second mortgage on your home, raided the nest egg, or scrimped and saved to start your business. It is a complete waste of all of that if you do not advertise.
Do you have a database of contact information for your clients? What about people who are interested in your company, but who have not yet made their first purchase?
If you don’t have a database of contacts, you should. Keeping in contact with your current and future clients keeps you on top of their minds, which makes them more likely to buy from you. And while it might not seem like it, contact management is one of your key marketing strategies.