Growing Your Business and Staying Within Your Budget

Every business owner has asked himself “How do I grow my business without spending a fortune?”   One of the best ways is to do as much as you can yourself.  I’m going to share a few other tips with you here…….

First – Plan and start a marketing campaign — Sure, it would be nice if you could hire a major marketing firm, but in the beginning, you can’t afford it. Make no mistake — we’re not saying you can do as good a job as a marketing agency, but you can do something. Start Facebook, Instagram, and Twitter accounts for your business, and post regularly. Compile an email list and use it. Fill out your Google My Business profile. Start blogging and post regularly on your website.

Second – Networking. This is crucial to building relationships – after all – no one ever asks you if you know a stranger who can renovate your home, fix your car build a website – you get the picture.  Joining local clubs or associations that will benefit your business is a great way to network with the right crowd as typically these are business owners or key contacts within a company. Your local Chamber of Commerce is the best way to meet other business people at monthly networking events.  Rotary clubs often have many diverse businesses represented within local chapters.  There are also several business networking groups that focus strictly on getting and giving leads within the group.

Third – Read your mail carefully.  Hidden in what may appear to be junk mail, you may find offers for classes, seminars or webinars.  Taking part in these helps you establish yourself as an expert in the many facets of your industry.  The benefits you derive from learning more about your business and being seen by peers and potential customers is worth the time it takes you to ferret out these opportunities and prepare for them properly.

Additional ideas include…..

• Pay attention to your established customers offering loyalty specials
• Email Blasts
• Local print advertising opportunities
• Research marketing and sponsorship opportunities at the chamber of commerce
• Use interns
• Get ideas from other business people – they’ve already done the legwork

You can also promote your business locally with ball field signs, sponsoring a youth sports team, giveaways, menu advertising, participation in festivals and fairs.

Be frugal – don’t spend a big chunk of money for a one-time big, splashy ad or marketing campaign.  Start out with a small but continuous campaign so that people see you over and over thus creating recognition.  Studies have shown that it takes 5 times for an ad to make an impression. Once you have been established, grand gestures for special promotions may then be considered.  As originated in Aesop’s fable – “Slow and steady wins the race.”