You have a product. You are confident in its capabilities. You are positive customers would make use of it and report back a satisfactory experience. Those who have tried it so far have. If only you could get it out there to a larger audience, a bigger market. When building a business, one of the most important things you want to secure is a customer base. You need to know whether there is a viable market out there for your product or service.
Many small businesses, new or old, struggle with marketing their products and services to a market that goes beyond their locale. A lot of times, this boils down to limited finances and budget constraints. Marketing your product doesn’t have to be done with an extravagant advertising campaign; let’s look at a couple of low-budget but effective marketing techniques that can help improve your business.
Coupons
Coupons are a proven marketing technique. They are a promotional device that comes in the form of a document or a digital graphic that customers can redeem for a discount when purchasing your products or services. A coupon will typically feature a specific redeemable amount or a special offer that would persuade your customers to patronize your business consistently. Continue reading about this here.
Posters
Bulletin board spaces are found in a lot of public spaces, schools, supermarkets, malls, and even gas stations. These are places potential customers frequent often.
When creating a poster to advertise your business, be sure to make them as conspicuous as possible. People reading them shouldn’t have to squint to see your business address, email, or phone number.
Referrals
Have you ever found yourself saying to someone, “Oh, sorry, we don’t sell that here, but the store down the street does? Then you probably have a good idea of how referrals work. Perhaps you are not that charitable when it comes to business; anyways, you catch my drift.
You can take advantage of this invaluable marketing technique by associating with other business owners like yourself. Say you run a plumbing business, and perhaps you know a couple of business owners. One who owns an upholstery business and another with a business that specializes in interior decorations.
Next time someone comes to your business and asks for directions to an upholstery workshop, you know where to direct them. If you have an understanding, they will be most obliged to return your favor when someone comes knocking looking for a plumber.
The World Wide Web
Most methods of business promotion have stayed the same over the past 50 or so years, but the Internet is one relatively novel innovation that is always rapidly and constantly changing.
Owning a business website might be a tall order for some businesses depending on their market and budget, but at the very least, your business should have an active online social media presence. This would serve as a point of access for anyone looking up your product or business or anything similar online.
Value Propositions
Customer discounts, guarantees, warranties, point cards, and referral rewards are powerful selling points for any service or product. More often than not, the deciding factor of a consumer buying from point A or point B is the value additions that are on offer.
Value propositions should not come at the expense of your business. Sometimes simply highlighting some perks that the customer may not realize in your product is adding enough value on its own.
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