Estimated reading time: 2 minutes
Small business marketing can be tricky, especially on a tight budget. How you allocate your advertising dollars can make all the difference, but it can be challenging to determine where to focus your efforts. However, with the three surefire business marketing tips in this Balboa Capital blog post, you can rest assured knowing that your marketing plan has a chance to succeed in growing your small business.
1. Build a marketing email list.
Email marketing is one of the most cost-effective and trackable small business marketing tools. It is also highly successful in directing your customer base to your website or social networks, usually where the purchasing cycle begins. Therefore, emails should have compelling content and end with a call to action or offer.
If you do not have an email list yet, start by asking customers for their email addresses when they visit your store. You can also add a “subscribe” option to your website. To ensure compliance with CAN-SPAM laws, make sure you do not use false or misleading header information or deceptive email subject lines and indicate how recipients can opt-out of receiving future emails from you.
2. Ask customers for referrals.
Word-of-mouth is one of the most powerful marketing tools, yet it is not something business owners can easily control. Most people tend to trust the advice and recommendations of their peers rather than what they see in advertisements. Use this to your advantage and ask your customers to refer others to your business. Most customers are willing to provide referrals but are less likely to do so without being prompted.
3. Collaborate with other businesses.
Collaborations and small business networking can help grow your company in many ways. As a small business owner, you will have the opportunity to learn from like-minded individuals who have walked their entrepreneurial journey.
Bringing together multiple professionals with very different skill sets and perspectives can benefit all parties involved. Not only does collaboration provide endless opportunities for new ideas, but it can also grow your customer base. In addition, by cross-promoting, you are introducing your small business’s products and services to prospective customers.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.