Low-Cost Business Promotional Efforts for the New Year

Many businesses have a fiscal cycle that follows the calendar year. These companies are currently wrapping up their 2013 budgeting process and preparing to implement strategies to achieve their financial goals. Each year, there seems to be less money and more things to do with it, putting a business in a difficult financial position before the year even begins. Take heart that there are many ways to make 2013 a promotional success without going into the red.

Saving Money With Promotions

Many entrepreneurs find themselves in a pickle when it comes to marketing. Creative tactics like including advertisements in invoice mailings and putting coupons and flyers in customer bags at the point of purchase reduce postage costs. Neighboring businesses can share costs for advertising in local newspapers and businesses with complementary services may reduce expenses by sharing distribution channels.

Going digital with promotional efforts can also save a bundle. It is easy to build an email list of customers and prospects by requesting email addresses from website visitors. Design a monthly or quarterly electronic newsletter filled with useful tips, information about new products or services, and coupons that customers can print and use. Encourage recipients to forward the newsletter or link to it from social networking sites like Facebook and Twitter. Reward customers for referrals by offering a discount or a free gift.

Consider Different Promotional Avenues

Television is commonly noted as the most expensive form of advertising. However, local cable channels offer many reasonably-priced advertising time slots during both day and night. These may not be in prime-time but they will reach customers while they are at home and paying attention. Community bulletin boards are also posted on local cable channels and represent free or low-cost ways to advertise a corporate event that is open to the public.

There are plenty of special interest groups and finding them is as easy as going online. Corporate representatives should also participate in newsgroups that target their audiences. Many entrepreneurs attest to the power of online newsgroups as marketing tools. These groups are also excellent sources of information about improving business processes. Entrepreneurs can even find inspiration for innovative products or services.

Toot Your Own Horn

Do not rely on customers, prospects, and the company website alone for promoting the business. Include important contact information on letterhead, business cards, employee uniforms, and within the email signature line. If the company has a fleet of vehicles, make sure the business website and telephone number are included in a prominent location on each one. Personalized corporate gifts can even be imprinted with the company URL and given away at community events and trade shows.

Corporate leaders can position themselves as subject matter experts by speaking at community meetings, teaching classes, and writing articles for local newspapers and magazines. Press releases can be published and distributed online through many publication services. Joining associations is another way to make the business more visible to potential customers and it improves relations with fellow business owners in the process.