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Reducing Marketing Costs While Gaining Exposure

Thursday, February 02, 2012   By Mike Reddy

 

From a business coaching perspective I know that for many business owners it can be a difficult exercise to identify the most effective marketing strategies that both gain exposure AND minimise the required investment.

Taking advantage of free marketing opportunities ought to be "a given". Social media is proving to be a lasting trend that not only reaches far beyond the regular scope of a simple marketing campaign but is also constant, versatile and universally accessible.

Bolster your campaign with your firms best perceived strengths - use this opportunity to give your brand a signature that marks you as different from your competition. Hone in to specifics creating a distinctive message.

While as a business coaching firm we have special tools and resources that can help you with this winning technique you can always elect to be your own marketing analyst. With some simple research techniques you can determine what is best for your firm, this is even more important when funds are scarce.

Re-evaluate your target or niche markets. Utilise simple strategies that help to distinguish where you need to be spending your marketing dollars.

Once you have identified your key audience and defined your message the next focus is on representation. Employ both direct (more costly) and indirect (less costly) measures to deploy your message. We use business coaching seminars and run courses that mutually benefit various industries – you can do the same even sponsoring events or promotions that engage your target audiences.  Consider a partnership with a non-profit organisation that may be a benefit to both of you.

Business cards and stationary are a classic but solid method. These days printing costs are very low and this method is one of the easiest ways to gain exposure. Leave your card wherever is appropriate, asking friends, local business owners and colleagues to help you pass them on.
 
Your team members may well interact with your target market at times that you don't expect. For this reason it can be a very effective investment, and good for morale, to equip them with their own business cards as well.

Join local community groups and clubs. As well as making a contribution to your community you may well find opportunities that would not otherwise be available to you. The cost is negligible and the potential for exposure is at a constant high. Offer free consultations, trial periods or sample products or even consider putting on a contest that will get your service, product or name out there.

During our business coaching engagements we often suggest that asking for referrals should be a normal part of your business so make sure you involve friends, loyal customers and family. Not all marketing has to come at a hefty cost. Stay afloat and gain exposure in the tightest of times with some simple tactics that merely require your implementation in order to work.


Mike Reddy is a Chartered Accountant, business coach and advisor helping businesses in Sydney, Melbourne, Brisbane and Gold Coast to easily increase their profits and cash flow. He is currently President of the North Sydney Chamber of Commerce, a Regional Councillor for Sydney North East and a member of the Institute of Chartered Accountants Sydney leadership team. As well as advising businesses, Mike presents business development seminars and webinars and is regularly contacted by the media to comment on small business matters. You can connect with him on Facebook, Twitter and Google+.