One cost that every business has, no matter how small, is marketing. Even if you get all your customers through word of mouth, don’t have a website, and don’t do any advertising, I bet you still have business cards (which, even if you print them yourself, still cost money). So, what are some ways you can reduce your marketing costs? In today’s post, I’ll share three ways to save money on your marketing.
1. Fiverr.com: On the website Fiverr.com, you’ll find graphic designers, video editors, copywriters, and other creative professionals who are willing to do simple tasks for $5. The tasks are called “gigs”, and usually people will have some “add-ons” to their basic $5 gig that you can pay extra for. For example, someone might design a header image for your website for $5, but for $20 they might also design a cover image for your Facebook page, YouTube channel, and Twitter profile. Using this site is a great way to get professional design elements for your brand without spending a fortune.
2. Repeat customers: Another way to save money on your marketing is to focus your efforts on getting repeat business from your current customers. It’s always going to be less expensive to get repeat business than it will be to acquire a new customer. What are you doing to cross-sell and up-sell your current customers? What are you doing to get repeat business? If you need help thinking through this, read my post on creating a marketing hourglass for your business.
3. Networking: The art of networking well is one of the most valuable skills a business owner can learn, but not many people do it well. By growing your network, you will get more business through referrals and drastically reduce your marketing costs. I’ll cover in-detail how to network the “right” way in a future post, but for now head over to Dr. Ivan Misner’s blog to get some great tips on this important subject.