Tweet

Getting More Bang for your Marketing Buck

Written by: Bella Lane

Article Overview: Small and start-up businesses don’t usually have the resources for a huge advertising campaign, chances are you don’t have an extensive cash allocation earmarked for promotion, or you’ve tried many different advertising approaches but still haven’t hit on a really successful campaign yet. You aren’t alone! Advertising is extremely expensive and even with adequate funding, it is difficult to develop successful advertising campaigns. And, with an increasing number of companies advertising through every imaginable communication avenue, it is becoming increasingly hard to attract the attention of consumers.

Getting More Bang for your Marketing Buck

However, there are non-advertising approaches to promotion. They generally require less money to implement and are often more effective. The only catch is that they require time and creativity to develop.

Coupons
You don’t have to distribute coupons in print advertising or in big direct mail campaigns. You can hand them out on the street corner, at trade shows, or just about anyplace else. You can send a few to your best customers, or you can include “next purchase” coupons in customer orders.

Coupons can be “quick and dirty” to design and print because their selling point is price, not image. To assure your chances of getting an additional sale or establishing an ongoing relationship with your customers, make your coupon offer exceedingly generous.

If you have a website, you can add a "sign-up for coupons" to capture email addresses and send your coupon to via email.

Contests
People love contests. They even love to see other people win! Just witness the phenomenal success of game shows on television. If you choose to develop a promotional contest, in-fuse it with fun, make it silly, and don’t forget to really talk it up. If your contest is wacky and crazy enough, you should be able to get good media coverage—and remember, this is essentially free advertising!

Gifts
People love to receive something for free, even if they have to pay a premium price for a more expensive item to get the freebie. While this technique has been used most successfully in the beauty and cosmetics industry, it can be used in almost any business endeavor. It isn’t unheard of to see deals such as a free computer desktop with the purchase of a higher-priced notebook computer or, even a free subcompact car with the purchase of a full-price luxury sedan!

Frequent buyers
Frequent-buyer programs can be very powerful tools for building loyal customers for both retail and service businesses. The more common approach is to give customers a card that is marked after each purchase and results in a free or reduced-price product or service offering after a specified number of regular-priced purchases. For example, ten haircuts may net one free haircut. Another approach is to give regular customers a discount on purchases upon presentation of their “Frequent Buyer” discount card.

Exclusive offerings
Offering exclusive purchases or previews of new merchandise to existing customers is a great way to inspire a feeling of excitement and loyalty. To enhance participation, you may wish to offer a discount. If the exclusive offering is in itself extremely attractive, the discount can be small.

Events
Hosting a special event in your business establishment, such as a celebrity appearance or a charity fundraiser, is a terrific way to introduce people to your business or maintain contact with existing customers. It also will create an aura of excitement and goodwill. You may even obtain media coverage!

Cross-promotions
You don’t have to be a movie producer or own an international fast-food chain to cross-promote your product with another business. You might consider offering free tickets to the local theater with each purchase of a particular item or price level. Another great business-to-business cross-promotion might be to offer free tickets to a ball game to any business willing to invest fifteen minutes of time just to listen to your sales pitch.

Trades
Ever notice the ads for car washes on taxi roofs? Car washes don’t pay cash for these advertisements! They get the exposure in exchange for cleaning the taxis periodically. If you are absolutely sold on developing an advertising campaign, remember that smaller media outfits will sometimes accept products in lieu of payment.

Giveaways
You’re probably wondering how you can make money if you give away product! Well, it’s a lot easier and less expensive than advertising. In fact, giveaways have their place in just about any type of business.

Selling business-to-business, you can generate goodwill with the people you choose—your best customers or a select roster of potential customers occasionally giving them a small gift when you call on them. The giveaway should not be so expensive that a feeling of bribery is conveyed, but nice enough that it doesn’t end up trashed the minute you leave.

For consumer service businesses, you may want to offer your product for free trial periods, or offer free estimates if you are in a service-oriented business.

Retail businesses may hand out balloons or other novelty items to build traffic or retain customer interest.

* Source Streetwise Small Business Start-Up

Related Articles
  3 Simple Steps to Creating Your Marketing Calendar
  Ever hear of the term Value Stream Marketing?
  Making Money in an Economic Downturn
  Don't Just Think PR, Do PR
  Testimonials Add to Your Credibility with Information Products

Article Tags: Coupons, direct mail campaigns, Getting More Bang for your Marketing Buck, nonadvertising, Selling businesstobusiness



Related Forum Posts
Re: What is your Business? - We are running a Online Marketing Firm and we have some good clients to which we are offering a complete Digital Marketing strategy like Search, Mobile Marketing, Branding and Design. I think in Online Marketing company online presence can be a wining factor for the success of the company.
Re: Let’s talk about the ways of marketing your products, servic - I agree with some of the others who responded it depends on what your selling... but to answer your questions here are some of the methods I use. Forum Marketing Yahoo Answers (I need to use more of) SEO (Search Engine Optimization) Bum Marketing or Article marketing P-P-C (Pay Per Click) Marketing Online Directories Hope this helps.
Re: Should Evan add a "Social Media Marketing" category to the f - Hi, Online Marketing would be a great title, and having sub categories would make it even better, there would plenty of categories to choose from, Social Media, SEO, Article Marketing and yes even Affiliate Marketing to name just a few, great looking site btw Jeff, take care, Carol
Re: How can we replace plastic grocery bags? - Plastic has improved all of our lives. Plastic is not the enemy. Plastic is mainly made of carbon hydrogen and oxygen. Plastic can be burned in a controled environment to boil water and generate electricity. The key is burning it hot enough to break the molecular bonds. Plastics and composites will overtake steel and aluminum for many of our products. For example the Boeing 787 a composite airplane that will use less fuel and require less maintenance. Soon "bucky paper" will be used for car chassis. Buck paper is super light and strong. Cars made of bucky paper will need less energy. Be it gasoline or electricity. Plastic bags work. Why replace them?
Kevin's Case Study #11 - A New Forum Category? - Hi Everyone, 2009 is a new year and I'd like to create a new forum category to jazz things up! In the past, there's been some interest voiced about adding a "Social Media Marketing", "Online Marketing", "Internet Marketing" or "Online Promotion" category. I'll implement [u:1g2tv6tf]ONE[/u:1g2tv6tf] of those new categories, but can someone first tell me what the difference would be between the existing "Marketing" section and one of those new options mentioned above? Thanks


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Make Small Commitments. Get Big Changes.

What is Give Back Marketing?

Build Corporate Credit for Your Small Business

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.