Lost-Cost Marketing Ideas

Dear M & M: I need some low cost marketing ideas – Dan

Dear Dan:

Before anyone engages in any marketing you need to do a few things first. To get a serious return on any money spent on any marketing campaign you’ll need a marketing strategy. Before you start you will need to know who your audience is. You need to be developing a marketing strategy to people who will actually be interested in buying whatever it is you are trying to sell.

Who are your current customers? Why are they buying from you now? Getting to know and understand who your audience is and what they need well enable you to create content that will actually appeal to them. Establish some goals. Usually, the main goal is to sell more to more people.

However, sometimes it might be to get more traffic in the store, have more people respond to an email questioner or have more people watch an online video. How much are you setting out to spend and what return do you need? Stay organized. Develop a calendar. What are you doing every day?

Marketing takes time. This isn’t a rush. You will need several platforms to reach everyone. Don’t put all your eggs in one basket. Radio, newspaper, online, flyers, word of mouth all work. Spread things around a bit. Where is your audience? What is the best medium to reach them? Develop content that can be measured then measure or track your results. What worked the best?

Was it the coupon in the paper, the networking event through the chamber, the table at the tradeshow? Did you reach your targeted audience? Was it cost effective? Be flexible and be prepared to make changes as you go along. How is your desired audience reacting to what you are doing? A strong marketing campaign is dependent on how well you know your audience.

What are your potential customers looking for? How can you solve their problems? How can you make it easier for them? Why should they buy from you? Remember, this is all about helping more people make the best choice to buy your stuff. Rather than thinking about developing low cost marketing ideas, try to think of this as how can I spend money more efficiently to get the greatest return.

Targeting messages to people that are actually interested is the first step to developing a low cost marketing strategy. Keep in mind they have to be ready, willing and able to buy. All you are doing is communicating through a channel they are already listening to (Newspaper, Facebook, Radio … etc.) that you are the place they need to go to get it.

-M&M

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