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How To Market A New Business At Minimum Cost
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How To Market A New Business At Minimum Cost

Hopefully before starting out some initial business will already have been secured but it is vital to develop a new business pipeline as soon as practical without spending too much cash. This article compares various methods to market a new business based on the time invested versus return secured.

Most new businesses tend to be time rich, customer poor so it is best to use in house resources for marketing wherever possible initially. The end result may not be as professional as an outside agency could deliver but marketing material can always be modified and improved later. It is more important to secure some short term enquiries than to ensure every detail of a marketing campaign is perfect before release.

Before starting any marketing process it is essential to decide exactly what makes the business different from every other and why a potential customer should choose the business. The message should be consistent through all channels and be differentiated in some way from the competition.

If in a business to business environment then cold calling is a relatively cheap and potentially effective way to secure new business. Whereas in a consumer marketplace leaflet drops to an area which matches the target customer profile can be effective. Both cold calling and leaflet drops are not the most efficient marketing tools but any new business needs to do something in the short term while developing more effective marketing.

Networking meetings and direct mail are also useful short term initial marketing activities. Direct mail needs to be laser targeted (or combined with cold calling) or postal charges can make it expensive. Networking works really well for some businesses lucky enough to happen across the right group. However, many networking groups either have too many wolves and not enough sheep or do not attract enough new members to hear the message so the choice of group is vital.

To get the business message to the maximum number of prospects then the internet is a key tool. Even if a business has a local customer base internet marketing can be key, in fact today the small business with a local customer base can extract more benefit from internet marketing than ever before. It really is just a matter of numbers; simply compare the number of prospects that can be reached by cold calling, networking or direct mail versus the number reached via the internet. The internet reaches out to far more potential prospects.

The problem is an internet presence is not something that can be built overnight as it takes time and effort. A mix of various promotional activities is therefore required (even if they are not the most effective) to ensure the business message is delivered while an internet presence in built over time.

The basics of internet marketing do take a little time to learn but if a business can generate a consistent stream of relevant, helpful information for its potential customer base then in today’s internet marketing world that is a major part of the battle. The issue then is what marketing tools and services will be used to deliver that content and what tools will be used to measure results. Good quality education material on what does and does not work and how to build an online presence can certainly help.

A website as the content hub will almost certainly be required and there are many services available to facilitate self build of a simple but effective website. With this in place some search engine marketing will be required to ensure the website is found. Although it takes time to learn the basics of SEM it is a process which can again be run in house. For businesses with a local customer base an optimised Google+ Local listing (free to set up) can deliver almost immediate search engine optimisation results.

With a website in place filled with appropriate content and testimonials and optimised to show up in the search engines against relevant keywords the business can then look at building other promotional methods. These may include building a contact and email list, social media, E-Newsletters and other promotional techniques to deliver relevant content to existing and potential new customers and ensure the business is front of mind when the time comes to buy.


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