Column: Big Ambitions and Small Marketing Budget

By George Farris

YOUNGSTOWN, Ohio – Working with large budgets in my over 30 years in marketing always seemed like a luxury. But businesses with small budgets can succeed if they are creative, collaborative and work hard.

What follows are some successful small-budget marketing efforts that work well.

These ideas might require paying staff, renting spaces, purchasing materials and supplies – even food and entertainment. You must be prepared to invest time in the effort; at least until you get consistent results and can train someone to pick up where you leave off.

Increasing your business with a smaller budget isn’t just about saving money. It’s about learning to break through, reach your market and convince customers to try your product.

Partner with Businesses

Partner with related businesses whose target market overlaps with yours but is not a direct competitor. If you have a bakery, partner with a coffee shop. If you have a woman’s boutique, partner with a jewelry store.

Together, you can host a podcast. You can promote each other on social media or give a discount for shopping at both businesses within the same week. Split the cost and open a pop-up shop in a high-traffic area.

Collect Feedback

It’s easy to ask for feedback after most sales. Be nice to the complainers and ask those who give you good reviews if you can use them on social media. Also ask them to make a good comment on your Google Review.

Testimonials and SEO

People who give good reviews are ripe for providing testimonials. Don’t be too shy to ask for a good comment you can use on your website or social media.

A very small percentage of small-business owners bother with SEO. Search Engine Optimization is well worth the effort and cost and returns positive results for a long time.

Sell Gift Cards

Gift cards improve cash flow. You get the money upfront without immediately needing to fork out fees to produce or ship the product. You can offer them online and in-store. It’s often a relief to those trying to buy gifts for loved ones on Mother’s Day, Father’s Day, Christmas, Easter, etc.  This is an easy way to increase sales.

Loyalty Programs

I hope you offer a loyalty program because, I guarantee it, your competitor does. The hardest part is keeping track of purchases.

If you do that, you can do the rest. Customers find loyalty programs addicting and fun. And they are usually thrilled by the discount reward.

If you have a lot of ambition, along with some creativity and a willingness to work hard, your business can still succeed – even with a small budget.

Businesses with small budgets can succeed if they are creative, collaborative and willing to work hard.

George Farris is CEO of Farris Marketing.

Copyright 2024 The Business Journal, Youngstown, Ohio.