Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. A key aspect to your business growing is its recognition. Getting your business recognized could be the difference between it transitioning from a small business to a big business. The following contributed post is entitled, Two Low Cost Methods To Easily Get A Small Business Recognised.
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But as a business owner, it’s common to wonder if there aren’t less expensive ways to promote your business. It’s in our nature to be cost-effective and whether there has just been a launch of a business or when the entity is in the fifth consecutive year of growth, there is always a re-evaluation of how to be more efficient. But the truth is that when you’re a small business with limited means, getting new customer acquisition can become a real challenge. Sometimes the mere thought of getting their business “out there” makes some people worry. The reason for this is because everyone is taught to think that marketing requires a vast investment or budget that to be effective like the big sharks, they just can’t afford right now.
But this is not always the case.
While there are methods that require you to have ample cash, there are many low-cost methods that will get your business in front of the people that matter the potential new clients and customers. Here a few methods.
Try Exhibitions
This method of marketing gives small business owners a really important marketing advantage of interacting one-on-one with your existing and more potential customers. This may seem like a really big investment on your part; the business owners part, but if you do it right, an exhibition show could give the company your building lasting benefits that could potentially give you a tenfold return on your investment.
Research any local venues that have what you are looking for and keep a list of all the upcoming shows in the up and coming year or so, to keep them in one place for easy access. And of course, keep in mind the business annual financial plan so you don’t get any surprise expenses. Try purchase all of your product pictures, stand materials and vinyl banners before attending and practise through your pitches.
Secondly, try to stay away from services like stand carpets offered by official vendors and suppliers of the show organizers. Sometimes these services can be as much as 100% extra than those from local independent suppliers.
The benefits are that If you exhibit at the right show, you can increase your brand awareness, acquire new customers and cement existing customer loyalty.
Referrals and Word Of Mouth Bonuses
Referral marketing, including methods like word-of-mouth marketing, as it is often referred to, is one of the most effective marketing methods for new starters and small businesses. Rather than focusing on and involving traditional mainstream marketing methods, this involves simply spreading the word, but allows your dedicated affiliate to benefit too.
What some small businesses might not know is the kind of boost it can give their business if they started implementing it today.
From statistical research done, nearly 65% of customers buy because someone recommended the product or service. This means that more than one-third of your customers are more likely to come from other customer referrals. You should be convinced by now that if your business does not actively include doing referral marketing schemes then you’re potentially leaving a lot of money on the table.
The first and foremost thing for a small business to do is to ask for referrals from customers and other people you know, have a few feeler schemes out through reliable clients who may be able to help bring in extra custom. Make sure that you mention the referral program to as many of your customers as you come across though. The best time to ask for a referral is when you have a happy customer in front of you. You just need to get used to asking them.
Marketing can come in different forms and methods, it depends on what works for the business owners. If you run a business what methods would you use to get more influence and recognition? Let us know your ideas in the comments below!
