Marketing Your New Home Business on a Budget

The hardest part of a new home business is letting everyone know who you are, what you offer and how they can contact you. There are many secrets to marketing your business and understanding which ones work for your business model is the key.
The problem with most people is that when they start their home business, they expect a profit within the first month. They start by jumping in and signing up for every type of advertising and they find themselves broke before they make their first sale. Most people who experience this blame their small business and do not take responsibility for their own mistakes. Take your time. It takes 6 months to a year to be profitable in a business. Spend just a little time each day marketing your business. Limit yourself to $20 to $50 per month for advertising. You can spend more, but you may not see any improvement in results. You can spend a lot less and get just as much in return. You decide.
There are many types of media that you can advertise in such as internet, radio, newspaper, magazines, etc. Many people will try to use all the methods of advertising at once. The problem is you will not be able to determine what advertising method is working for you and which one is wasting your money. Only 10% of people will tell you how they found your business, so don’t rely on asking them. Another statistic is that it takes people three times to hear or read an ad before they consider purchasing something. Keep your advertising on long enough to make a difference.
Roll out your advertising and marketing in blocks. Select one method and focus your marketing dollars. Then after a period of time, depending on whether it has been successful or not, change your advertising method again. Many businesses call these “campaigns”. Keep track of your campaigns and the money generated from them.
Here are some low cost methods of advertising for you to consider for you campaigns…
WORD OF MOUTH – This is the cheapest kind of advertising on the planet and the most powerful. It works based on a customer having an enjoyable experience with the service and/or products you have provided. Because of their great experience, they will spread the word to the family, friends and co workers without even having to ask them. We have all experienced this when our friends talk about a great restaurant or how much they enjoy their vehicle.
BUSINESS CARDS – You can usually pick up 500 business cards for about $20. When you do, hand them out. Do not give more than a couple of cards to each person. If they need more cards from you, they will ask. Other suggestions are to leave them in areas such as taxis, car washes, restaurant lobbies, phone booths, etc.
Some people are known to network with others on a regular basis. Some of these people are also known to be always looking for an extra few bucks. With these people, you can suggest to them that if they write their name on the back of one of your business cards and the card is presented to you, then you will pay a referral fee to them. You do not have to offer much — sometimes one dollar is enough. Look at your home business and your offerings and decide how much would be a good referral fee.
PRESS RELEASES – Press Releases are a good source for generating news about your home business. The business editor at your local newspaper is always on the lookout for a good business story to fill the business news section of the newspaper.
Ensure you do your research on how to write a press release. There is a right way and a wrong way. Once complete, forward your release to a business editor or reporter. They will be more inclined to run your story if you buy some advertising, but may still print your release for free in a special events and openings section.
NON-PRIMETIME ADS ON RADIO AND TELEVISION – Ever been up late and notice all the infomercials on TV. They have selected this time because it is a money making time. Non-primetime ads do not have to fight with all the major brands that have millions worth advertising set aside. Television primetime is 7pm to 10pm and radio is 8am to 5pm.
Non Prime time radio and TV can offer you the best rate of return for your dollar. If it can keep the infomercial companies profitable, it certainly can help your business too.

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