Way, way too often, marketing is a waste of money. Marketing done incorrectly and done simply for the sake of marketing uses up precious time and money, which business owners lack enough of as it is. You can be generous with your clients, but it will always serve a business well to be stingy with their resources.
Marketing is a hugely important, long-term investment in the growth of any business. However, prior to spending exorbitant amounts on marketing campaigns and agencies, do yourself a favor and exhaust your non-financial resources first. Depending on how much business you need, you may never need to invest anything more than time and energy into your marketing.
The key to marketing success and saving money on marketing is efficiency. Identify who you serve, how you serve them, and where those people spend their time. Once you figure that out, let as many of the people who you serve know by utilizing the free marketing channels available.
1. Acquire Knowledge In Any Way Possible
Most established consultants and coaches offer a free consultation or strategy session as a lead magnet. It’s a smart, no pressure way to get new clients and figure out if people click with you. The benefit to you is that you can get free insights from a professional. The information you learn in that consultation can open your eyes to options you haven’t considered, and make an overall difference in your business planning.
If you don’t already, be sure to subscribe to marketing blogs and newsletters. New strategies abound and in this industry, you need to be “in the know”. None of us have time to scour the internet for the latest trends. Subscriptions to relevant content allow the information to come to you.
2. Make Yourself An Authority In The Space
One guaranteed way to draw interest and a sense of trust to your business is to portray yourself as an authority in your field. Posting engaging and informative content on social media is the easiest way to do this. Through these posts, offer your audience value in the form of content and they will begin to see your content as a worthwhile use of their time.
Don’t hesitate to apply for business awards, whether they are awards for your field, in your region, in your demographic, or for your philanthropic efforts. Be sure to vet each aware to ensure that it’s not a solicitation, but there are always several award categories for which you certainly qualify. Adding to your credentials in that way makes your business seem more reliable to potential clients.
3. Form Strategic Partnerships to Save Money on Marketing
More businesses than you think are seeking partnerships to grow their own companies. Find people who do something complementary to what you do. For instance, real estate agents and mortgage brokers, CPAs and bookkeepers, and SEO consultants and PPC specialists all depend on each other for some aspect of their work. An effective partnership is one in which the other business’ clients need what you do and your clients need what they do. When seeking out partners, don’t overlook LinkedIn. A well-crafted, highly-selective outreach on LI can be a real game-changer.
Free resources exist, especially in marketing. Most marketing avenues love it when you use them because you indirectly market for them as well. It’s a symbiotic relationship. Wring out every drop of it you can and you’ll be far more well-informed about what works, what doesn’t, what message your best clients respond to, and what changes to make before you ever spend a dime.
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