Business Ideas to grow Your Business Without Spending A Lot Of Money

Do not spend large sums of money on marketing. Instead use time, energy and imagination. There are many low cost marketing methods that you can use that just require an investment of your time.

Marketing is everything you do to promote your business and is about identifying and satisfying needs and building relationships. Many people confuse advertising with marketing. Advertising is just one marketing activity.

Know your customers

You can’t have all the customers so decide which ones you want. Describe the type of customer who is most likely to want or need your product. This will help you to target the right people to help you maximise results. Think about your customer and ask yourself, “if I was the customer: What would it take to get my attention? What promises would I want fulfilled?”

7 is a magic number

Have a seven step follow up process in place for when customers contact you. Research shows that 7 contacts may be necessary before a customer buys. Many businesses stop after just 2 contacts. Plan a series of activities that include telephone calls, emails and letters. Spread your activity out over several weeks.

Existing customers

Review what else you can sell to them. Find out what they are not buying from you that you offer. Then develop a sales plan and promotional campaign.

Lapsed customers

Find out why they no longer use your services and what it would take to get them back.

Speed dating

Develop a 30 second statement that promotes your business. Include a hook for interest, words that explain and a plea. Use at networking events

Answer these questions:

Who are you? Why should I care?

Review your competition

Identify what extra services you could offer. Become a customer of your competitors to see how they treat you and see how you can improve on their services.

Look at where they advertise and how they promote their business. What can you discover and use for your business?

Snatch File

Create a file of leaflets, flyers, adverts and sales letters etc that have been sent to you. These can give you ideas for your own business. Don’t copy them but adapt them to improve them. Look outside your industry.

Don’t re-invent the wheel just improve it. Look to see who you think does it best then adapt the idea for your business.

Ask, Ask,

Ask customers what they want and then give it to them.

Ask customers about their needs and problems. Show them how you can solve their problem.

Ask for feedback on your performance, things that could be improved.

Ask for referrals from customers and opinion formers.

Thank

Customers like to be appreciated so say thank you for their businesses. Letters, telephone calls, small gifts can all play a part.

Assumptions

Assumptions are the root of all problems. So don’t assume! Ensure everything is explained clearly and simply. Your customers need to be educated; they don’t work in your field every day. Make sure your customers know what you want them to do.

Customer names and addresses

Keep records and classify customers by category. Base on profitability, or turnover etc. Serve all your customers well. Know who your best customers are and serve them extra well. Remember in many cases more than one person is involved in the buying process so ensure you have all the contacts and they are up to date. If you haven’t got records offer an incentive for customers to give you their details.

Position

How do you wish to be perceived? This is the core message you wish to deliver in everything you do. 7  good questions that need 7 clear answers.
WHO: Who are you?

WHAT: What business are you in?

FOR WHOM: What people do you serve?

WHAT NEED: What are the special needs of the people you serve?

AGAINST WHOM: With whom are you competing?

WHAT’S DIFFERENT: What makes you different from those competitors?

SO: What unique benefit does a customer derive?

The power of words in sales letters and presentations

You and I are better than we and us! Avoid jargon, avoid clichés and use simple words that everyone understands. Words should appeal to emotions: Save, Free, Love, New, Easy, Discover.

Easy to buy

Good marketing focuses on the buying process. How clear is your offer? How clear is the price? How easy is it to buy from you?

Points of contact

Study every point at which your company makes contact with customers or prospects. Your reception, your business cards, your building, your delivery vehicles, your brochures. Ask “ What are we doing to make a great impression at every point.” Set out to improve each one significantly.

Keep in touch

Do something regularly and consistently to stay in touch with customers and prospects. Remember we do not know when a customer will have an actual need.

PR

Use the power of PR. Write press releases and send to your local papers and business magazines. Can you create a survey and use it to create PR?

Test, monitor, measure, modify

Learn from the past. Monitor what worked and what didn’t? Ask yourself why? Establish benchmarks for success. Test new ideas on a small scale first.

Word of mouth

Encourage recommendations. Use testimonials in your marketing material. Offer incentives to reward customers for recommending you to others. Make it easy for customers to recommend others.

Website

Customers expect you to have one and it to be modern and up to date. When was the last time you updated your site?

Pitfalls to avoid

Don’t expect instant results.

Don’t stop because you are busy today, market today for tomorrow’s customers.

Don’t decide how the marketplace will respond.

Don’t forget that customers are humans.

Don’t make an offer that isn’t clear with a clear call for action.

Don’t aim for perfection there is no such thing. Get your messages out, and always look to improve.