3 Tips For Low Cost Marketing

Over the years, I've found that most entrepreneurs spend too much time and money on promotions that don’t generate new business.

Here are some marketing ideas to consider before breaking out the big bucks:

1. Hand shake and business card. There is this amazing new social networking tool that’s become popular lately: a radical concept called meeting people in person. Whether you’re a business owner or the general manager, make a point to introduce yourself to at least five people every week. That’s a significant amount of new business with no advertising cost.

2. Cross promote with other local merchants. It is time for you and your peers to scratch each other’s backs. Provide a special certificate for other local businesses to pass out to customers with a special offer from you -- compliments of them. You get your advertising handed out for free, and the promotional partner gets to offer their customers a perk. Win-Win!

3. Get some bounce-back action. Ever have special circumstances in which you provide products or services to a group of people who normally aren’t your customers? Maybe you own a restaurant that also caters events. Maybe you own a T-shirt shop, and a big local employer asks you for 200 shirts for a summer picnic. Each of these people you’re providing products or services to, could also become individual customers. So, besides catering a retirement party, provide each of the 420 guests with certificates offering them each a $15 discount on their next meal.

These strategies don’t take up much time. They cost little. But they generate business. They use a business’s own product as the incentive to drive people in -- instead of major media dollars. Now, that's working smart!

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