“Content is king.” You’ve heard this a dozen times over the last few years. But what does it mean to you as an entrepreneur?
People hate advertising.
People love free information.
Today, there is virtually unlimited information on any given topic. But do you realize how much of it comes from businesses trying to get exposure for their company? A lot. Information is becoming the new foot in the door for small businesses who don’t have a big marketing budget.
What’s in a name? Everything!
The first encounter people have with a company is its name. Just like anything, a business name evokes certain ideas and images. Make sure the image you’re portraying is one that you want!
Here’s the story of my company name. I was starting a marketing and public relations firm, and wanted to have a fun name that showed we were creative, yet dedicated to the projects we received.
In a previous Networking Article, I discussed networking as a marketing strategy. In this article, I will be following up on some of those ideas.
If you’re not getting the results you want with the typical marketing and advertising channels, here’s another idea that can generate a lot of business for you: networking.
Networking involves regularly attending meetings or events with other business people, with the intent to connect with a group of like-minded individuals. You may find that you need services or products that these people can provide, but your ultimate goal is to find potential customers.
Dive Into Network Marketing
First, do your research. There are likely numerous groups that meet in your area and each may have a slightly different focus. Some meet weekly, but most meet monthly. Some networking groups cater to either men or women, while others include both sexes. Find one you’re interested in, and attend a meeting. Be sure to bring business cards, samples of product or services if you’re able, and a notepad to take notes.
Get the business card of everyone you talk to, whether they seem like a future client or not. Sometimes networking relationships take a while to cultivate, and while someone you meet may not need your services that day, they very well may call you down the road.
If you’re like me, you’ve just about exhausted the usual channels for networking. While networking groups are good for making contacts, those contacts don’t always translate into sales. Attending too many meetings with different groups can sometimes do nothing more than drain your pocketbook. So how can you meet people in your community that will be interested in your product, and bring you steady sales?
Volunteering as a Marketing Strategy
Think about it. You’re working with a diverse group of go-getters for a cause. While you will all be like-minded in the sense that you want to help a particular organization or non-profit, you all work in different parts of the city and do different things. Without having a specific agenda to sell, you will build relationships with these people, who will then think of you when a need arises that you can fill.
How Will Volunteering Help My Marketing Efforts?
Think about the people you have met at church, at your children’s school, in the community. You probably know where they work, and if anyone mentions needing services or products, you immediately think of the people you know can provide them.
It’s a common situation: new business owners need to advertise, but they don’t have the capital to do so early in their 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:
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.
You Can’t Afford NOT to Advertise
You may have no money coming in during the first few months of your business. So if you have no money, how can you advertise?
First of all, marketing and advertising should be built into your monthly budget (you have a budget, right?), along with electricity, web hosting, inventory, etc. You need marketing just as much as you need electricity. Designate a percentage of the anticipated sales you plan (hope) to earn each month on advertising.
Each month, decide how you’ll spend your allotted marketing money. Some affordable but effective marketing tools include: