A limited budget is one of the biggest and most common challenges small business owners face when they decide to get serious about marketing.
You don’t have a lot of money to spend, and you want to make the most of the limited funds you do have…so how do you do it? What marketing activities will give you the biggest bang for your buck?
If you’re in this situation, it is imperative to take an active approach to marketing versus a passive approach. Active marketing tools are those that require you to engage in the activity – it’s active because you are directly and actively involved. Writing articles, hosting workshops, networking and speaking are all examples of active forms of marketing.
The key to active marketing activities is you have control over the activity and how much time, energy and effort you put into it. You also have more control over how people view and utilize the marketing message you receive.
Passive marketing tools are those that passively market your services. Newspaper advertising, brochures, and flyers are some examples of passive marketing tools. You create them, but they do the marketing work whether you’re present or not. These can be very important and effective marketing tools, but they don’t give you as much control as active ones do and sometimes are not as effective as active activities.
Think of active marketing as marketing that’s in your control and passive marketing as marketing that you have little control over.
When you have a limited budget the key is to try and do more active marketing than passive marketing…and choose a variety of activities that will make your dollar go further.
For example: If you have $1,000 to spend on marketing, do NOT buy one big ad in a magazine that will only run one time in one issue. This is very passive marketing, because, after all you have no control as to whether someone reads your ad in the magazine or blows past it and throws the magazine in the trash.
You can make your money go so much further and achieve better results by choosing a variety of active marketing activities. Instead of blowing $1,000 on just one activity, try attending networking groups, write and publish articles, or work with a marketing coach.
See how you now have a diverse set of marketing and its more in your control?
The minute you start to get more clients, put that money back into marketing your business so you’re no longer limited by your shoestring budget. Hire help to create more active marketing activities for your small business, and then plan to strategically diversify your marketing activities.
As your marketing budget grows, you can add more marketing activities into the mix. But regardless of how big your budget becomes, active marketing activities should always be the focus. This is the only way to stay in control of marketing your small business, whether you have a $1,000 or $50,000 budget.
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