Seven Ways to Save Money and Step up Your Small Business Marketing

As you develop your small business plan to emphasize maximizing cash flow while minimizing expenditures, it’s also important to prioritize spending smart. The money best spent is the money that does the most for you, providing the highest return on investment … be it economic or otherwise. One way to make your money work best is through savvy marketing, and today there are numerous ways to get “bang-for-your-buck” without breaking your promotional budget. Be creative and flexible in weighing your marketing options, then put your money where it will do its best for your business.

1. Outsourcing: Developing strategic partnerships with outsourcers can be a boon to your marketing budget and marketing efficiency. The current marketplace is filled with options and opportunity as it relates to outsourcing, so evaluate how an alliance with an outside party could make for a positive and profitable relationship. Sites such as Fiverr and Elance are portals to talented freelancers who may be able to lend your business their skillset within your budget. Sometimes, letting someone else do the heavy lifting can be very beneficial.
2. Website design: It’s said that you never get a second chance to make a first impression, and so it goes with web design. If your business’s website doesn’t stand out, neither will your business. It pays to shop around then invest in a quality web designer, one that will make your business as attractive as possible for online visitors. Designers come in all shapes and sizes however, so make certain that your choice can “see” your vision, and make your proprietary site an integral part of your marketing efforts.
3. Social media: It’s here, gets bigger by the day, and continues to evolve with regularity. It’s social media, and no matter the size of your business, it must be an integral part of your promotional plan. Word travels fast, and travels the fastest in cyberspace. Allow social media to create a buzz about your goods and/or services, then let the word-of-mouth takes it course.
4. Collateral: Despite the power of online marketing, hard promotional efforts still resonate for part of the consumer demographic. From business cards to T-shirts, a wide array of promotional items can get the word out for your business. As you explore various options, give careful thought to practicality and usage in your geographic area, and well as in your market segment.
5. Community involvement and activism: Nothing promotes a business better than being visible in one’s community. Whether your business is part of a large urban center or modest rural setting, your involvement with your neighbors creates good will and good marketing. Look for ways to help showcase your business through raffles, fundraisers, sponsorships, etc.
6. Business education: Sharing your expertise with the public not only utilizes a valuable resource, but also can stimulate interest in what you do, and how you do it. Utilizing your business skills can take many forms … penning a blog/newsletter for the local media, donating computers to a library or school, offering self-help/professional development classes in a specific discipline … but whatever way you become involved, you will be assured of letting people know what your business does, and that it is proactive.
7. Email resources vs. hard copy mailers: Promotional budgets from the past were heavily weighted toward the hard copy print medium, but with online marketing so prevalent, it’s foolish not to exploit email advertising. As you compile email lists of prospective customers into a usable database, remember to tailor your marketing with a clear focus and message. Though email advertising can be far more cost effective than traditional mailings, and can reach a considerably larger target audience, your efforts will be wasted if your promotions resemble generic junk mail or spam.

John Meyer (@johnameyer) is Head of Strategic Partnerships/Marketing at The Company Corporation. He is passionate about helping entrepreneurs and connecting them to resources that help them thrive. He is also a political strategist and art collector in his free time.

Photo: Flickr