Marketing on a shoestring

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Promoting your business on a tight budget requires smart thinking and planning. Smart marketing doesn’t have to mean resorting to gimmicks but making the most of the resources you have; and in the start-up phase that’s usually time and energy.

I enjoyed the challenge of spreading the word about Her Business in different and innovative ways with absolutely no budget.

Here are some of the more successful strategies I tried;

Expos and tradeshows
There are heaps of expos and tradeshows around the country, and the world, for all types of markets; weddings, pets, children, small business, women, crafts, health – you name it!

Think laterally to find a niche for your product or service – the Ceroc dance franchise has a stand at the wedding expo to encourage prospective bridal couples to learn an impressive dance routine for their reception.

Before the event you need to figure out what you want to achieve from an expo, is it; sales on the day (not many people come to buy), capture names to add to your database (people are wary of entering draws for fear they’ll be spammed for the rest of their life), or build awareness, good will and educate your market (your best bet).

Your return on investment may not be in tangible dollars and this needs to be taken into account when you draft your budget and weigh up the costs of the stand itself and all the other costs like your time, printing brochures and signage, hireage of tables and other display material.

Expos are hard work; the travelling, setting up, standing for hours (people won’t talk to you if you’re sitting) and smiling invitingly to lots of people (scowling doesn’t work until it’s pack up time) under bright lights for a couple of days.

There are spin offs – customers visiting your site quite often give feed back on your product or service, almost like an informal focus group. You can also network with other stand holders who are likely to be in the same industry as you and have the potential to be valuable alliances or good contacts.

Guest speaking/writing
Building a relationship with your potential customers and clients means they have to be aware of you, trust you and feel a connection with you, and what you stand for. Building your profile and your business’ profile through speaking at conferences, workshops and meetings makes you visible to your market and gives you the opportunity to make that connection.

I’m much more likely to use, or think favourably, of a product or service that has a ‘face’ to it, a real person I can identify with. Think of The Body Shop, The Warehouse, Hubbard’s Cereals, Michael Hill Jewellers, TradeMe, Virgin Blue – and immediately you identify with the entrepreneur behind the company and their story or their values.

If speaking in front of a group terrifies you – and you’re not alone – join a local Toastmasters group (www.toastmasters.org.nz) to develop your confidence. Overcoming those butterflies is well worth the effort. Develop a story about your business or an aspect of your industry that will educate or inspire your audience. You’ll discover lots of groups are eager for interesting and entertaining guest speakers.

Writing for a magazine or newspaper also gives you the chance to build a connection and develop confidence with your audience by sharing your expertise. Don’t fall into the trap of writing an advert (it won’t be published), simply offer valuable advice and tips.

Networking
I believe networking and nurturing strong relationships with potential customers and alliances is an invaluable and ongoing marketing activity. Cold calling doesn’t work – you’re just irritating busy people.
There are lots of networks and groups all catering to different interests and needs, from industry to business to hobbies and everything in-between.

Before joining a group, or attending networking events, get clear about why you want to belong and what you want to achieve; is it to gain and give business referrals, to make contacts, to meet potential customers, to educate yourself, to gain inspiration and encouragement, to keep updated, or to be seen?

Robyn Henderson, Australasian Networking guru, has written some excellent books on networking and her website gives essential tips for seasoned networkers right through to those white-knuckled newbies who hyperventilate at the thought of turning up to a function alone and not knowing a soul. (Check out www.networkingtowin.com.au).

Gone are the days of coming up with the cleverest, quirkiest marketing trick to get noticed, instead we’ve gone full circle and come back to the basics. Customers are more savvy, cynical and indifferent than ever. If you have a great product, look after your existing customers and make solid relationships built on integrity with future customers then you have winning shoestring marketing.

Fiona Powell is the founder and past editor/publisher of Her Business magazine.