Advertising can be pretty expensive, but it’s a necessary overhead. After all, how are you supposed to get the word out about your small business without it? Fortunately, there are a host of cheap (and even free!) advertising options for your small business.
Here are five strategies to take the strain off your advertising budget.
1. Donations Get Air Time
Charity auctions, giveaways or local contests provide a great way to get some free air time. Since you’re donating something you already have (a product, service, etc.), there’s no money coming out of your budget, but the word is still getting out about your brand! You’ll get some gratis publicity and a warm, fuzzy feeling.
2. Leverage Social Media Posts
Likes, comments, shares and retweets don’t cost a dime, and if you’re doing social media the right way, all of these things can lead to increased business. If you’re willing to spend a little to gain a wider audience, consider trying a sponsored post on Facebook, LinkedIn or Twitter. It won’t take long for your following to increase, and the cost is often tied to impressions or social media engagements – in theory meaning that how much you pay is tied to how successful the campaign is.
3. Give the Barter System a Try
You’re not the only small business that struggles with finding advertising dollars. Cross-promoting with another small business can benefit both companies. Split the cost of advertising, and you’ll rake in big rewards for half the price.
4. Let Your Customers Do the Work
A referral system can be a fantastic way to bring in new clientele and keep your existing customers coming back for more. Offer prizes, discounts or free products to people who bring in new business. Word of mouth is a pretty powerful advertising strategy itself, and people are more likely to spread the news when there’s something in it for them. You can even take this idea a step further and let your employees in on the fun! Hold a monthly contest among your workforce to see who can bring in the most new business.
5. Give Them a Reason to Come Back
A loyal fan base can go a long way toward helping your bottom line. Offering discounts or promotions after a sale has been made usually leads to another sale in the future. Consider printing coupons on the back of receipts or invoices to entice your already devoted customers to come back time and time again.
Your small business’ advertising budget might be limited, but your creativity isn’t! Think outside the box when it comes to your marketing strategy, and save plenty. Or better yet – let Mischa Communications do the thinking for you! We offer an economical solution to advertising conundrums, so give us a call and let us show you how to make your advertising dollars work to their fullest potential!