10 Simple and Inexpensive Marketing Ideas for a Tough Economy

The harsh reality of today’s economy is that many people are unable or unwilling to spend money like they have in the past. It used to mean nothing to me to spend $100 or $200 on clothes and shoes every few months, go out to eat several time a week and buy things I didn’t really need but thought I wanted on a weekly basis.  I also used to donate money to several local charities. During the past year and a half, I have probably spent only $300 total on these items. Not good for the local economy, not a whole lot of fun for me personally.  

Obviously, businesses and non-profits are also reluctant to spend money on marketing efforts when customers like me aren’t adding to their bottom line. Another harsh reality: you can’t ignore your marketing efforts just because business is slow. Maintaining a strong presence now will help customers remember you when they feel inclined to start spending again. 

While you may not be able to afford a fancy direct mail piece or advertisements in your local paper right now, there are inexpensive or even free things you can do that will help keep you in your customer’s minds:

1. Develop a newsletter. Keep your customers informed about new products, services or other information they are interested in. 
2. Create fliers to promote your upcoming sale instead of more costly direct mailers. Remember, though, that any printed materials you send out need to look professional. 
3. Gather customer e-mails. If you can’t afford to have your newsletter or flier printed, send an e-mail version.
4. Partner with other businesses who compliment yours to create a “niche” event: bridal fair, home & garden show, ladies night out, etc. 
5. Start a blog. Do you have something relevant and interesting to say? Are you an expert at what you do? Of course! It is an easy way to lend credibility and increase awareness about your business or organization.  
6. Create a Facebook Fan Page for your business. Post new products, upcoming events, etc. Remember to update it on a regular basis or no one will continue to visit your page. The same is true if you have a web site. Update your content to make sure people are visiting. This is the same principle as bringing in new merchandise or changing displays in your store.
7. Participate in a community event. If you support your local community, residents will tend to support your business. 
8. Attend networking functions. Word of mouth will always be the best way to spread the word about your business. 
9. Offer to speak to other organizations about a topic of  interest/expertise that you possess. It will only cost you some of your time. 
10. Create a unique in-store event. While you will need to spend a little money to execute it effectively, a fun, memorable event can bring a lot of people into your store.  

 

[Via http://mcguiremarketingpro.wordpress.com]