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11 Free and Low Cost Marketing Strategies to
Turn Around a Cash-Strapped Business
by Adam Urbanski http://www.themarketingmentors.com ©
2008 This past weekend I received a disturbing message
from a dear friend. His business wasn't generating all the income he needed. He's
exhausted all savings, started depleting credit card reserves and badly needed
money to pay this month's mortgage... Ouch! I wish I knew sooner... Whether
it's pride or just human nature that keeps professionals from asking for help
sooner, it's just plain silly to keep "toughing it out" when there are
so many strategies for generating new business fast. You see, there is really
no shortage of new business; there is only a shortage of knowledge how to get
this business. So if you are one of those professional folks who could use a few
hundred bucks to help out with this month's mortgage, here are a few strategies
to get your business buzzing with new customers or clients: - Get on
the phone! Pick up the phone and call everyone you know. Contact all clients,
prospects, friends and family. Make sure they all know what you do, who you are
looking for as a client, and how to "give you away."
- Get
out and meet people! Sitting in the office, shuffling paperwork and piddling around
with emails will not take you far enough fast enough. You need to be talking to
people who can buy your product or service. Set a goal of how many people you
want to see in person every day and find ways to meet that goal!
- Stop
competing and start leveraging! Instead of being mad at your competitors for stealing
all your business, approach them and offer to help out. At times we all get projects
that are too big, too small, or too "whatever" for us to take on. Contact
your competitors and ask if they would be willing to outsource their "too
whatever" jobs to you - so that you can both make some dough. (Yeah, I knowit
sounds like eating some humble bread -- but hey, I think it beats living under
a bridge.)
- Ask for referrals! You should be doing this anyway.
Have a conversation with all clients (past and current) and help them think of
people they can introduce you to right away. Oh, and don't forget -- just because
a prospect says "no," it doesn't mean he or she doesn't know someone
who would gladly say "yes."
- Crank up your follow-up!
Do you have a stack of cards from people who turned you down once before? Maybe
it's time to resurrect them. Reach out to your "old" prospects - even
if you previously gave up on them. Give them a call, send them a postcard or an
article, and give them a special reason to say "yes" now!
-
Forgive your ex-clients! Frequently ex-clients realize they made a mistake by
getting involved with another vendor -- but they are too embarrassed to admit
it. Give them a way to gracefully come back to you and many will do it.
-
Catch a COI! Form an alliance with Centers of Influence who can introduce to a
large number of prospects at once and give you instant credibility. Well thought
out and carefully executed strategic alliances with COI can infuse your business
with all the new sales you can handle.
- Educate, educate, educate!
Regardless of what business you are in, you can always find things your clients
and prospects would appreciate learning from you. How-to tips, informative case
studies, industry reports -- those are all great tools that can easily attract
prospects hungry for your "stuff."
- Start thinking strategically!
If you are having trouble attracting enough new business, the marketing tactics
above should help you get things hopping, but to achieve a long-term sustainable
success you'll need to address your marketing on a strategic level. Identify or
re-evaluate your ideal target market, clearly describe the benefits your product
or service provides, create a compelling marketing message, re-evaluate your business
model and re-define your methods of delivering your product or service, etc.,
etc.
- Stop getting and start giving! When you are in the "how
I can GET a client" mode, you are focused on you -- and that doesn't make
you very attractive. Shift your thinking to "how I can GIVE clients more
VALUE" and you'll become an irresistible client magnet!
- GET
HELP! When you are in the midst of a demandingsituation, you cannot always have
the clarity needed to creating solutions. Collaborate with a successful associate,
start your own board of advisors or a mastermind group, or hire a marketing mentor
to pull you out of the quicksand. Remember, when time and money count -- you can't
afford the expensive "trial and error" learning curve!
Oh,
and one final thought -- now that you are done reading - get busy implementing!
Credit: About The Author:
The author, Adam Urbanski, teaches service professionals and business owners
how to develop better marketing strategies to increase sales and profits. His
website offers more how-to articles and free tips to create a winning marketing
action plan at http://www.themarketingmentors.com
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of this article does not constitute an endorsement by the National Business Association;
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