During a recession, it seems that many small businesses do not have the extra money to spend on marketing. However, this is one of the most vital times to do a little extra marketing and self-promotion. Fortunately, it does not have to cost a lot of money to get your name a little farther out there. Try some of these free or budget-friendly ways to market your small business.
Build a Professional Website
While it may cost a small amount of money to pay for a domain name, a website is an invaluable tool for small businesses. Today, when someone wants to find a local business, they turn to the Internet. If they cannot find you online, they likely will not find your location offline. Consider putting a small investment into hiring a web designer to achieve a professional-looking website. Make sure to send links to other people within the industry, friends, and family so they can share it with people they know.
Utilize Free Advertising Tools
The Internet is a wonderful place where you can market your small business for free. Try building a blog, or weblog, for your business or start a Facebook business page. To build a blog, look for a free host site; there are several available to the public. Utilize the blog for keeping the world updated on what is happening within the industry. A Facebook page has a similar purpose. It is free to create a business page, and you will be able to post regular updates that fans can see directly on their news feed.
Take Advantage of Word-of-Mouth
This is a completely free way to get business in a down economy, especially when your business is on a small budget. Of course, you will need to provide great customer service, since very few people actually talk about their good experiences. Another way to motivate customers to give referrals involves offering them incentives. For example, offer a reward to customers who send referrals your way, or to the one person who refers the highest number of people before a predetermined date. Write your customers' names on the back of several business cards and ask them to hand your cards out. When a referral brings the card back and makes a purchase, reward the original customer with a small prize or cash.
While you may not have much extra money to spend on marketing your small business, especially during a recession, there are various ways to get inexpensive or free advertising. It does not have to cost a fortune to market your business, even in today's economy. From blogs to incentives, try something new to help get your name out there.