Cheap and affordable ways to promote and market your product or services do exist in this country. There are also several ways involving a greater outlay of money and an increasingly bigger budget. Consider your budget not only in terms of money, but in terms of time when it comes to deciding on a promotional strategy. Here are some ways to promote and market your product or service that range from completely free to doggone expensive.
Free Marketing Strategies
The least expensive marketing and promotional strategy is word-of-mouth. In some cases, this can also be the most effective marketing and promotional strategy. People trust other people who share their outlook, history, education background and ethnic group. If you can wrap your promotional around the whirlwind that is word-of-mouth, you can bet on a big return for your outlay.
Other means of promotion that are free are press releases sent to newspapers and local television stations. A referral from a respected business associated is a free marketing concept that may appeal to certain customers.
Cheap Marketing Strategies
Less affordable than word-of-mouth, but still not expensive in relation to other promotional strategies include things like flyer distribution. If you have a business where a lot of cars are going to be parked near, placing flyers on the windshields of parked cars can get you a surprising good return if your business is something with mass appeal. Direct mailing promotions are not as cheap as they used to be what with the rise in postage and all, but targeting specific demographics is always an effective marketing idea. Consider classified ads in your local newspapers and weeklies to produce a solid return for a locally situated business.
Moderately Expensive Marketing Strategies
Put together a press kit to send to media contacts or just to your best customers. Let the media know what you do and why it would an interesting story. Get your business listed in a large ad in the telephone yellow pages. Placing an ad in a regionally circulated magazine is an alternative marketing strategy to wasting money on a nationally circulated magazine if your business is local.
Expensive Marketing Strategies
The expensive marketing strategy is where you find placing an ad in a nationally circulated magazine located. If you’ve got a business that appeals and is capable of selling nationally, a magazine ad is an effective promotional strategy. Buying a mailing list can also get quite expensive, but it may pay off by providing you with a list of customers eager to buy what you are selling. High space rental fees makes exhibiting at a merchandise market one of the expensive marketing strategies, but again you will be reaching people whom you already know are interested in your wares.