Small business marketing can be tricky – especially on a small business budget. How you allocate your advertising dollars can make all the difference, but it can be difficult to know where you should be focusing your efforts and your advertising. With these tips from the marketing team here at Balboa Capital, you can rest assured knowing that your marketing efforts will prove successful in growing your business.
Build an Email List
Email marketing is one of the most cost-effective, trackable and successful small business marketing tools available. It is also extremely successful in directing your customer base to your website, which is usually where the purchasing cycle begins. Emails should have compelling content and end with a call to action or offering. If you don’t have an email list yet, start by asking customers for their email address when they visit your store, or by creating a “subscribe” option on your website. To ensure compliance with CAN-SPAM laws, make sure you don’t use false or misleading header information or deceptive email subject lines, and indicate how recipients can opt out of receiving future emails from you.
Ask for Referrals
Word-of-mouth is one of the most powerful marketing tools, yet it isn’t something business owners can easily control. Most people tend to trust the accounts of their peers – rather than what they see in an advertisement. Use this to your advantage and ask your customers to refer others to your company. Most customers are willing to provide referrals, but are not as likely to do so without being prompted.
Collaborate with Other Small Businesses
Collaborations and partnerships can help grow your business in a multitude of ways. As a small business owner, you’ll have the opportunity to learn from like-minded individuals who have walked their own entrepreneurial journey. Bringing multiple professionals together with very different skill sets and perspectives can be beneficial to all parties involved. Not only does collaboration provide endless opportunities for education, but it can also grow your customer base. By cross-promoting, you are exposing a new group of people to your products and services.