When opening a business, entrepreneurs incur all kinds of high startup costs. Whether in the form of legal fees, annual payments, marketing materials or hiring, the early stages of a company can be expensive. Here are five quick ways you can make your efforts go a step further without breaking the bank or spending more than you need:
- Update your personal social media accounts with information on your new venture.
Passively promote your new brand to your existing network by including links and tagging your business handle on social media to spread the word. Early customers are often friends and family anyway, so why not get the word out to more people in your community about the exciting work that you're doing?
- Leave business cards/flyers wherever you can.
Many neighborhood coffee shops or workout studios have bulletin boards or tables where customers leave flyers, publications and name cards advertising their businesses to the local community. The next time you swing by for a cuppa, leave a small stack of name cards or small handouts with clear information about your business, the services you offer and your contact details. You never know whose interest you may pique!
- Provide a service/product to someone for free in exchange for a review.
Recommendations and word of mouth are some of the most powerful ways to quickly build credibility and momentum for a new business. Leverage your network and ask a trusted colleague or friend if they are willing to give your service or product a try in exchange for honest feedback that you can share on your website as a review. Better yet, if they're willing to post about their experience to their own followers or communities, you'll be reaching new networks in no time!
- Write a thought leadership piece on Medium.com.
If you've decided to launch a company, chances are you've done your homework about your industry and know a thing or two worth sharing. People love learning about new ideas and industry trends by reading well-written opinion pieces by experts in the field, so spend some time brainstorming about an interesting topic you could reflect on in a piece of writing. Opening an account on Medium won't cost you a thing, but it might garner you a following of intelligent individuals who could become your customers. Share your insights on LinkedIn, and don't forget to mention or include links to your startup in the piece.
- Contact your local news outlet or community newsletter.
People love reading about newsy topics in their communities and discovering the latest happenings in their area. Take advantage of this by reaching out to reporters or publications to see if they'd be interested in writing a feature or profiling your business. Receiving quality coverage from authorized news sources can be a great way to kickstart exposure for your brand. Best of all, you have nothing to lose: the worst that can happen is that they say no.
I hope these five easy tips inspire you to make some small, effortless changes in your business journey that could lead to rewarding results! What are some of your favourite ways to market your business?