There are so many great ideas for marketing. We’ve identified 73 strategies. Today, we are going to focus on entrepreneur ideas for low cost marketing. One popular strategy is networking. For some people, if there’s food and there’s people at a networking event, they’ll be sure to show up. It could be breakfast, lunch, cocktails, afterhours, or dinner. There are so many opportunities with Chambers of Commerce, LinkedIn Groups, Neighborhood groups, professional, art, music, and charitable organizations. You MUST test and measure what works for you and your business.
Value your time
There is a big caveat to all of these free or low cost events; you must place a value on your time. You must test and measure the results you are getting. If you are going to a bunch of events and it’s not producing clients and sales, or the types of clients and sales that you want and are profitable for you, it’s probably not a good investment of you time. That being said, you might be connecting with terrific power partners, strategic alliances and referral sources. Here too, you need to measure the results from these connections.
Use your blog
Another great strategy for marketing could be your blog. Here too, you must value your time, and test and measure the customers and sales that you are attracting as a result of your blogs. Some expert may have told you that you need to create “content”, but if your content isn’t getting you results, then it’s probably a poor investment of your time. Perhaps the content is valuable, but you might need the help of an expert in how to promote your blog. Use an internet marketing or social media specialist, or study how to use Google analytics, Google Ad Words, Facebook Promote to get your message in front of your target market for as little as $10, 20, or $30 per week.
Your web site can be a great tool to attract new business. Does it have a compelling offer to capture the name and email of people who visit? Do you give people a reason to visit your site again and again to get new information?
Does Social Media work?
Social media can also be a low cost marketing tool. Just don’t fool yourself into thinking that your time exchanging jokes is marketing. Are you connecting with your target market, giving them a compelling reason to come to your web site, Facebook fan page, LinkedIn profile and do business with you?
Workshops and seminars can be a terrific low cost marketing strategy for attracting your ideal customer. For the cost of some coffee, fruit and bagels, you can build your reputation as an expert to the people most likely to buy from you. After all, they were attracted by the subject of your workshop!!! Don’t sell them, educate them as to how to buy from you!
Free ROI Calculator
How do you figure out if your strategies for low cost marketing are working? We offer a FREE Marketing Return on Investment (ROI) Calculator in our LoomView Business Owner’s Tool Kit. You can calculate the exact return on investment for every marketing strategy that you use; Facebook, LinkedIn, blogs, websites, Pay Per Click (PPC), email blasts, direct mail, etc. By tracking how your customers came to you, how much it cost to get them to buy from you, what they bought from you, this ROI Calculator will accurately measure, in dollars and cents, what works, and what doesn’t work.
Get an Unlimited Marketing Budget
You then have the information to determine what you should do more of, what you should improve, or what you should just plain STOP! You can uncover which gives you your best return on investment, so you can have an UNLIMITED MARKETING BUDGET.
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