One of the hardest parts about establishing a new business is how to market and advertise the new venture without lucrative expenditures. The most prominent advertisements, such as a TV or radio commercial, are typically too expensive for a new proprietor. The following marketing strategies are not only effective, but they’re cost efficient for any business owner.
1. Social Media
Using social media is the best way for a new business to advertise. Although Facebook is the best platform to advertise, it doesn’t hurt to reserve your business name on Twitter or Tumblr for when you become more well-known and possibly begin franchising.
Starting a Facebook page will instantly connect you with tons of other people. You’ll be able to send invites to “like” your page to friends and family members, who can also send invites to their extended families and friends. Before you know it, your Facebook page can be a virtual podium to connect your business to hundreds if not thousands of people overnight.
Maintaining the Facebook page and offering deals is crucial for even a successful business. The more connected you are to your customers the more connected they will be to your business.
Making small posters or print-outs on your home computer is another effective and cheap method of advertising. High traffic roads or frequently walked streets are the best locations. You can hammer these signs into telephone poles or get signs you stick into the grass along the roadside.
When people are driving, they might need a service you’re offering and having signs in your community can advertise a grand opening they might be interested in. For people who may be walking, it can even drum up a conversation if the individuals are interested in your new business. The more people who recognize your name, the better.
Sending out mailings to the local community is the sure way to let people know that you’re there. People like to stay local when they want to go out and make a purchase. Unlike with signs, a mailing guarantees that they’ll know your business is new and in town. Signs can be overlooked, a mailing cannot.
4. Windshield Wiper Advertisements
A windshield wiper advertisement can be a pamphlet or even a piece of paper you print out at home. If cropped correctly you could even fit two to four mini-ads on one piece of paper and cut them out.
Depending on your target audience, you can spend an hour or two at a college campus, mall parking lot, or local shopping center placing your ads on car windshields.
This is one of the cheapest ways to advertise to a large group of people. Similar to mailings, even if they throw the ad away they will have the name recognition from seeing your ad. You don’t need to watch an entire commercial if you recognize a logo. Ads are all about recognition rather than the content. The primary purpose of ads is to build a familiarity with your brand. Regardless of how long they retain the ad, they will still remember seeing it.
5. Word of Mouth
Word of mouth advertising is the center point for all of these advertising methods. You want people to get talking about whatever method(s) you choose. A majority of word of mouth advertisement is from customers who have had an experience with your new business.
The best word of mouth compliments will be based on a few things: presentation, customer service, and quality of the goods provided.
Presentation is about how your business looks. A clean business gives off a positive vibe. No one wants to be in a dirty business or one that doesn’t look taken care of. A business owner who cares about their business, cares about their customer.
Customer service is how employees treat customers. People want to be greeted with a salutation and a smile and depart in the same courteous manner. Customers should also be appreciated and helped throughout the experience in your business. Unfriendly staff is a quick way to keep people from coming back and will have a negative word of mouth response. The “customer is always right” is an essential frame of mind for employees at all businesses, but it is absolutely crucial for a new business.
Quality of products will be how top notch your services were. If you own a store, how were your prices and selection? If you own a restaurant, how did the food compare price and taste wise to other restaurants in the area? Whatever your business entails, you should be offering the best product you can, at a fair market value.
When all of these things align in your business, the word of mouth compliments will spread positively throughout the neighboring communities. A positive word of mouth reputation combined with effective ad campaigns is the best way to guarantee a successful new business.