It wasn’t long ago when we published a blog post detailing the best ways to market your business for $100 or less. From business cards to cold calling, there are a lot of ways to reach your audience on a budget.
This time around, we are going talk about how to market your business when you have more cash in the bank. Instead of $100, imagine that you have $1,000 to market your business. This opens you up to a whole new world of opportunity.
Rather than bog you down with hundreds of strategies (and yes, there are that many ideas), let’s focus on three of the best ways to spend a grand.
1. Social Media Marketing
It doesn’t take $1,000 to get involved with social media marketing, but if you have this much money in your budget you can reach a large audience.
According to Adweek, 70 percent of marketers plan to increase spending on social media advertising in 2015. This includes platforms such as Twitter, Facebook, and Instagram.
If you are going to spend money on Facebook ads, for example, there are steps you can take to track your return on investment.
As your ads are served and your balance begins to fall, pay attention to what is and is not working. Remember, $1,000 is a lot of money but it can go quick. If you travel too far down the wrong path, you could find yourself $1,000 lighter and nothing to show for it.
2. Setup Shop at a Trade Show
When you are on a super tight budget, such as $100 or less, you don’t have the money to setup at a trade show. While you may be able to attend, which is a great way to meet others and network, your options for setting up a display are next to none.
With $1,000, you should be able to find several trade shows to attend. Choose carefully, as you only have so much time and money to go around. Answer these questions to get started:
- Which trade shows can you afford?
- What will you get in return for your money?
- How many attendees are expected?
- Do you have enough money to pay for the floor space as well as the display itself?
- How will you track your return on investment?
If you are seeking guidance on which trade shows to attend, Events In America can point you in the right direction.
3. Print Advertising
When it comes to marketing your business, don’t ignore what has worked in the past. Sure, social media marketing and content marketing are the wave of the future, but that doesn’t mean you should ignore more traditional strategies, like mail marketing and street signs.
Does it make sense to pay for billboard space in your local area? This could be a great idea if you have a brick and mortar location.
According to Fit Small Business, printing an advertisement for a billboard will set you back $500. Now, all you need to do is find a billboard in the right location (and at the right price).
Regardless of your industry, it is safe to assume you are familiar with at least one trade publication. You may not have enough money to buy ad space in the top publications, but there are others, those with a smaller circulation, that will fit you perfectly. There are many benefits of advertising in magazines. Don’t let anybody tell you this strategy is dead.
4. Networking Groups
Building a powerful referral network is easier than you think and can help drive revenue. Keep in mind that business networking is about being genuine and authentic, building trust and relationships, and seeing how you can help others.
Ask yourself what your goals are in participating in networking meetings so that you will pick groups that will help you get what you are looking for. Some meetings are based more on learning, making contacts, and/or volunteering rather than on strictly making business connections.
Five business networking groups you should check out:
- BNI – Business Networking International is the world’s largest networking group, and one I highly recommend.
- LeTip – LeTip is smaller than BNI, but works off the same principle.
- Rotary International – A service organization packed full of local movers and shakers.
- Chamber of Commerce – Attend meetings, volunteer for committees or otherwise play a role as an active member of the group.
- Trade Associations – Be on the lookout for local trade, merchant and industry-specific associations you can join.
It doesn’t take a massive budget to achieve marketing success. With $1,000, you can implement one or more of the ideas above. As you begin to generate revenue through these techniques, your marketing budget will continue to grow.
If you have any other tips, feel free to share your advice in the comments section below.