5 Free or Low Cost Ways of Marketing Your Business in the Down Economy

In today’s economy, everyone is feeling the pinch, yet it is still necessary to market your business. Below we have 5 Free or Low Cost ways to market your business. Hopefully you’re already trying some of them or will put some into practice within the next couple of weeks. Enjoy!

1. Is Your USP Boldly Shown To Your Customers?
The most powerful tool in your marketing toolbox is to stand head and shoulders above your competitors. Does your Unique Selling Proposition separate you from others in your field? Your USP should explain the benefits your customers/clients can expect to receive when they choose your business rather than the others.

2. Increase Your Value per Sale
Try packaging your products/services to increase the value of each sale. For example, if you owned a beauty salon, you could offer a coupon book of 6 visits/hair cuts for the price of 4/5. By doing that you’ve just increased the value of that sale and you’ve locked that customer/client to you for the rest of the year/half year/etc. Think of ways that you can try this in your own business.

3. Bouncebacks – Increase the Value Of Your Customer
Offer a coupon good toward their next purchase/visit. Gets them coming back.

4. Bounceback + Referral – Increase the Value of Customer + More Customers/Clients
Give your customer/client a coupon good for their next purchase/visit along with one for a friend when they both come back together. Customer-10% / Friend-20%

5. Follow Up – Customer Loyalty
Do you have a system in place to follow up with your customers/clients? Did you know that approximately 68% of all business lost is due to not following up with the customer/client after a sale? It is much easier and cheaper to retain customers/clients who have done business with you already than it is to go out and get new ones. Also keep this in mind for referrals. If you are consistently keeping your name in front of them, they will be more likely to refer you to their friends when someone is looking for the services/products you offer.