Small Business Marketing Tips: 10 Essential, Low-Cost Strategies to Grow Your Business NOW
When the economy goes downhill, you need all the revenue you can get, as fast as you can get it, and with as little expense as possible.
Here are 10 no-holds-barred, low-cost tactics you can use TODAY to crank up your sales. And the best part? They’ll cost you next to nothing to get started.
ESSENTIAL STRATEGY #1. Master the Art of the Add-On Sale
“Do you want fries with that?”
These six little words have made McDonald’s billions upon billions of dollars. Think you can use them in your business? You bet you can!
Here’s an incredibly simple script you can implement TODAY: “Because you’ve made this purchase today, (Client’s Name), you have qualified for a special offer on (Fill in the Product’s Name).” And it works for everyone. Professionals, retailers, catalog sales, online marketers, info publishers, service providers, health care practitioners, you name it.
ESSENTIAL STRATEGY #2. Make an Offer to Your Customer List. NOW.
When you fail to continue to SELL your customers, they will fail to continue to BE your customers.
And because your customers have already made the decision to buy from you once, they are over 3 times more likely to say yes again! In other words, they are the singlemost responsive group of people you could possibly target. Ever.
So make them an offer! Today! Broadcast an email or fax. Send a special postcard. Do a quick, inexpensive automated telephone call. Heck, call your best customers personally and invite them to make a repeat purchase. But whatever you do, do it NOW.
Which brings me to my next point…
ESSENTIAL STRATEGY #3. Capture the contact information of every single customer, client, patient, or prospect who graces your enterprise–in any way.
Because if you’re going to make offers, you’ve got to have someone to make them to. There is NOTHING more crucial to your business success than this. Offer something of value in exchange for people’s contact information and build your list as fast as you possibly can.
ESSENTIAL STRATEGY #4: Raise Your Prices
I know I may have just put you into shock. You think you couldn’t possibly charge more money or you would lose all your business.
But you’re probably wrong.
Fact is, most businesses are so focused on low price because they believe that’s all the customer is looking for. But even in a recession, it’s simply not true. Customers do want a good price, but they first want what they want. As long as your value proposition is strong, you won’t be hurting.
So try a little experiment. Raise your prices by just 2%. I doubt if anyone will even notice. All the additional revenue goes directly to the bottom line. And THAT’S something to smile about!
ESSENTIAL STRATEGY #5. Make it Automatic
Next time someone makes a purchase for a consumable product or a repeatable service, offer to put them on a monthly continuity plan or long-term contract where they get a price break. For example, if you’re a hairdresser, sell them their next six haircuts now–and give them one free. Or put them on an automatic monthly billing cycle until they say stop.
ESSENTIAL STRATEGY #6. Use Your Business Cards Right.
Not one person in 1,000 uses business cards the right way to maximize their business-building potential. So here’s how you can.
- Make sure your card is laid out horizontally, not vertically.
- State your Unique Purchase Appeal…the advantages that differentiate you from your competition
- Use both sides of the card to let people know everything you do and how you do it
- MAKE AN OFFER. Offer free information, a free report, a free audit or evaluation, or some other FREE, no-obligation service that will benefit your prospect and encourage him or her to call. A marketing piece without an offer is simply incomplete.
ESSENTIAL STRATEGY #7. Get Speaking Gigs.
In my home state of Utah, there are over 460 organizations that meet on a regular basis. Each event they sponsor usually calls for a speaker. In my case, assuming the typical organization meets on a monthly basis, those 460+ organizations have need of 5,520 speakers over the course of the year. Your area is probably no different. There are plenty of gigs to be had–so go get ‘em! Besides positioning you as an expert, speaking gigs are a great way to build your network…another low-cost way to attract business.
ESSENTIAL STRATEGY #8. Barter.
Here’s a marketing building block too many thumb their noses at. But barter can be an incredibly powerful way to build your business. You can trade for advertising, for example. But that’s only the beginning. When people trade with you, they are helping you fill unused production capacity, move inventory, and save money. They are also sampling your wares and building a relationship with you. And don’t forget the referral business that can be cultivated along the way!
ESSENTIAL STRATEGY #9. Joint Ventures.
This is one of the most important business building blocks in the world. Look for other businesses who share the same kind of customers you do and joint venture with them. They endorse your products and services to their lists, in exchange for a piece of all the sales created by the promotion. Or, you host THEIR products for easy, free money. Most people are very open to this idea–and this is one of the best ways to build relationships and grow your revenue quickly and affordably.
ESSENTIAL STRATEGY #10. Referral Selling.
For most business, referrals happen on an incidental, rather than a systematic, basis. So to get more, here’s what you do…
- Offer your clients incentives to send their friends, neighbors, relatives, and associates your way.
- Make a special offer to the people your clients refer, specifically because their friend referred them. You want your referring client to be a hero in the eyes of the referral!
- Incentivize your staff members to ask for referrals
- TRACK your results!
What about you? What excellent low-cost marketing strategies do you have to share with us?
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Comments
Jim…you are dead on with this one. I needed to hear this as much as anyone. Follow these instructions and your business will definitely improve.
Jim,
We discussed a joint publishing venture on a new book for the two of us some months ago. Please give me a call at your convience so we can discuss the possibilities. Thanks. (877-787-3127)
Winn
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