Marketing Products for under $100
I was at a party on New Years Eve where I met someone who was just starting a business. She wanted to know how to start marketing products. She was in the photographic industry and wanted to develop a brand around portrait work. However that was a long term strategy and she needed immediate cash flow. When it comes to marketing products you have to be very specific on whom the customers are. She was going to focus her short term efforts on the wedding industry as she knew there was some capacity in her local area. I advised her to start a separate web site so she could sell off the wedding work when she had developed the portrait brand. She didn’t want to confuse the portrait brand with the wedding brand. Her budget was virtually zero so we had to look at social media as the greatest investment is her time. We also looked at developing a information resource, like a wedding planning check list that she could use to capture email addresses. She could then market to those people. She also had to partner with every wedding function center, car hire and florist in the area. I also encouraged her to meet and talk with other photographers. They could be a good source of referrals.
So how do you market with no budget?
The most important thing is to target a group of customers. The bigger the group the more expensive it becomes. Focus on a small group and own the part of their brain that relates to your product. Look at previous sales and see what section of your customer base supplies you with the greatest profit. Analyze them and see what commonalities they have. This will help you target your marketing to people that match that profile. You should also reach out to existing customers as they already have a relationship with you. This existing relation makes marketing products much easier.
So why is Marketing Products so important?
If you have a small budget and you fall into the trap of thinking failed advertising is a brand building exercise you will go broke. You have to push for sales conversion and this is achieved easier if you are marketing products. Once you have more budget you can do brand development. But to start with push the product and use customer service as a branding tool. Marketing products shortens the sales funnel in the short term. A great brand is a long term strategy for sales funnel shortening. Remember you can always contact us at email@example.com or through any of the social media channels.
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Until next time keep working on your marketing and I hope everything you do brings you success.
Craig is the host of the "Making Business and Sale Work" podcast. Craig has experience in many online and offline business as well as working for many years as a criminal analyst.