Top Niche Ideas

It doesn’t matter how great your small business’ products or services are. If you don’t promote them properly, no one will ever know they exist. Poor marketing strategy is one of the top reasons small businesses fail.

Now, I know what you’re thinking right now: “I just don’t have enough money to advertise my small business properly.” Many a small business owner has repeated this refrain time and time again. And it seems to make sense. After all, the big boys are out there spending millions of dollars each year to attract customers.

But I’m here to tell you that you don’t have to spend a lot of money to promote your business. There are several low-cost advertising methods you can use to get big results for your small business.

• Focus on Customer Retention—Rather than focusing on acquiring new customers, put your energy into keeping the ones you already have. A high rate of customer retention could earn you more business than even the best marketing campaign. Loyal customers will not only provide repeat business, but they’ll also likely generate referrals to you. Speaking of referrals, consider launching a referral program that rewards loyal customers who refer business your way.
• Optimize Your Website—Simply put, search engine optimization (SEO) is the most cost-effective way to generate business online. See, unlike paid advertising that has a limited shelf life, an optimized site has a potentially unlimited ROI. Your top search engine rankings can earn you business day in and day out for years to come. And with hundreds of millions of consumers using search engines to guide their buying decisions each day, the opportunities for success are unlimited. Whether you want to hire an SEO company to handle this for you or you want to spend the time learning SEO skills online, a sound optimization strategy will net you a high return on your investment.
• Write Online Press Releases—Online press releases are another great way to get your company attention without spending a lot. Simply write a newsworthy press release about your company, and publish it on one of the many press release distribution services online. You’ll receive high search engine placement (assuming you optimize the press release for relevant keywords), valuable back links to your website, and an increase in interest in your company. Just make sure your press release is actually newsworthy and not just fluff that no one cares about.
• Use Social Media—A growing number of companies are using social media outlets to connect with their customers. From Twitter and Facebook to promoting blogs on Digg, social media marketing has become the hottest trend in online marketing. It’s a no-cost way to directly interact with your target audience. Even if your Twitter account doesn’t directly generate business, it’s still a useful resource for better understanding your audience.
• Send Direct Mail Letters—Direct mail is still an effective marketing method. The keys to success with direct mail are: a) effective copywriting and b) a highly targeted mailing list. In other words, you want to make sure you’re effectively communicating your message to the right audience. After all, it’s pointless to send a sales letter to someone who wouldn’t be interested in your services in the first place. Avoid wasteful spending by generating a highly targeted mailing list.
• Use Bold Viral Methods—Viral marketing. It’s all about generating word of mouth buzz about your company without spending a lot of money. There are several ways you can do this. Whether you want to create a unique video for YouTube or you prefer doing a publicity stunt on a crowded street corner, the point of viral marketing is to stand out and to do something totally different. Don’t treat it like a normal corporate advertisement, because that’s not what viral marketing is. Viral marketing is something that makes people want to tell their friends about what they saw.

You really don’t have to spend a lot of money to promote your small business. The key is to focus on getting the maximum bang for your marketing buck. Put these low-cost advertising methods into practice, and you’ll start to see a boost in consumer interest in your brand.