Jump Start A Partnership

Stand out from the competition by generating more visibility and value with the right partners and methods. When partners serve their mutual market better together everyone wins. At the very least you get introduced to your kind of customers through businesses they already know and trust.

1. Print joint promotional offers on your bills and/or receipts.

2. Offer a reduced price, special service, or convenience if customers buy a minimum amount of services or products from you and your partner. Make a much better offer when they buy a larger amount.

3. Hang signs or posters promoting one another on your walls, windows, or products.

4. Mention one another's benefits when you speak at local events, write articles or are interviewed by the media.

5. Describe the situation where you and your partner's products or services work well together.

6. Pool mailing lists and send out a joint promotional postcard.

7. Promote your partners' products during their slow times, and ask them to do the same for you.

8. Share inexpensive ads in local shopping papers or a nonprofit event program.

9. Give a joint interview, demonstration, or Q & A. session to local media.

10. Put one another's promotional messages on Lucite stands on counters or floor stands in waiting areas.

11. Encourage your staff to mention how your partner's products can be used with yours.

12. Give your partner's product to your customers when they buy a large quantity of your product, and ask your partner to do the same.

Frugal Marketing

We all know that marketing is an important part of any business. It's how we get the word out about our products and services to prospective customers and clients. If we want our businesses to be successful, marketing is not something we can skimp on. Large companies spend millions of dollars on marketing each year to maintain their brands' market share. For most small businesses, there aren't millions of dollars in the entire budget, let alone available for marketing. Some small businesses commit a large portion of their budgets to marketing. They produce elaborate ads and reserve premium ad space, have all sorts of fancy promotional items made, and sponsor lavish events. This helps them gain visibility, and possibly market share, but at what cost? In some cases, profits suffer unnecessarily due to overspending on marketing.

Marketing doesn't have to be that expensive. There are methods of marketing that are costly, and some are even free. These methods may not be as flashy as the ones that cost lots of money, but they can be very effective. And in many cases, they have a much better return on investment. It might take a little time to learn the ropes and make connections, but it can save you a substantial amount of money.

There are plenty of marketing techniques that you can employ at a low cost. But did you know that it's possible to get great results without paying a dime? Publicity is easier to get than you might think. Writing press releases and distributing them can get your business featured in newspapers, and possibly even on the TV news. You might be surprised at the things that the media will find newsworthy about your business. Some of the best topics for press releases include special events, correlations with national news stories, and joint ventures. Marketing might seem impossible when you're on a tight budget, but there are plenty of ways you can reach your target market without breaking the bank. Some methods have no cost except your time. Frugal marketing is alive and well, and it can provide great results for the small business owner.

Following Up is Essential

If you’re an entrepreneur operating and managing your own small business, you have many responsibilities. You are your own secretary, bookkeeper, marketing director, sales person and ‘deal closer’ among other things. Even if you do not like the sales side of things, you have to do it. Part of the sales process that’s too often overlooked is follow up. Consistent follow up can dramatically increase your conversion of leads to paying clients.

Follow up should be started when you first make contact with a new prospect. If you meet someone at a networking event, take some time to make notes on their business card and follow up with them the next day with a handwritten note. Even if this person is not a great lead for you, they may know someone who would be.