How To Promote Your Business On An Extremely Tight Budget!

Please follow and like us:

How To Promote Your Business On An Extremely Tight Budget!

Ever wonder “how” or “why” it is, that a staggering 80% of all small business owners and or service providers (sadly) don’t typically make it past the first 18 months or so!

And by the fifth year (60 months) of their storied (or not so) storied existence, a staggering 88% of them will have officially bit the dust! Pretty scary, isn’t it?

And more times than not, their major road block is simply a lack of new cash! Translated, they’ve got way more consistently going out the door, than they have consistently coming in!

That’s “why” it simply behooves you to no end entrepreneur, to learn “how to” promote your business, product and or service, especially if you don’t have fortune 500 start up money and or fortune 500 hundred corporate clout of any kind!

But rest assured, that long before the day their Titanic actually sinks, there will have been plenty of holes in their foundation, and blatantly obvious warning signs to indicate the day of reckoning, was surely just around the next corner! If not even sooner!

The remainder of this post will focus on an incredibly simple, yet creative (non techie) way to effectively promote your business, product and or service. Especially when writing big checks, simply isn’t an option.

“How To” Promote Your Business, Product And Or Service When Simply Writing Big Checks Isn’t An Option!

One of the absolute best ways for any cash starved (struggling) small business owner and or service provider to preserve their extremely limited cash, is by (strategic) resource sharing with other like minded entrepreneurs.

To simply call this particular type of (proven marketing) arrangement a joint venture and or strategic alliance of some kind, robs it of it’s overall (potential) real long term profit possibilities! Because typically, (certainly) not always! But in most common JV arrangements of some kind, neither party involved, is necessarily dependent of the other one to survive!

But here, (for our specific marketing) explanation purposes, think of this type of battlefield tested strategic resource alliance arrangement as (similar) to the exact same type of co- dependent relationship between a seeing eye dog for the blind and the blind person themselves!

Obviously, to a certain extent the dog supplies eyes (for the most part) to the blind human and the human’s need for this particular dog, prevents the dog from being put down!

So both parties rely heavily on the other’s strength! And to a certain degree, neither can do as well without the other!

Effective Strategic Resource Sharing Arrangements Can And Will Make Both Businesses More Profitable!

Take this first really simple (straight forward) example. Suppose your local pet store business is clearly showing signs of running out of steam! For any number of reasons, like a rather slow moving and growing local and national economy! Which means once again your overall annual gross sales (steadily) continue to be on a slow decline.

(With unfortunately, no end in,in sight!)

So you could desperately use a fresh marketing shot in the arm, to say the least. On the other hand, you recently came across this business card of a local (brand new) one person solo-preneur start up “Pet grooming” service provider.

So you call this local entrepreneur up and quickly discover (that) for the most part this ambitious solo-preneur currently works out of their home, which in reality is their (apartment) and does a lot of  house calls!

Which means they do a lot of driving all over the city and slightly beyond, in order to service their (snails pace) growing customer/client base.

But with the price of gas constantly creeping up (plus added to the fact), they have an older car. And current “Penny Saver” and local business card display ad rates in the major newspaper(s) constantly creeping up! Their already razor thin gross profit margins are quickly being systematically eaten up by the ever increasing cost to do business! “What to do?”

So you quickly propose, (“what if”) they simply set up shop in your store!Huh? And by doing so, first of all, they’ll automatically cut way down on their ever increasing gas bill!

Which also means, they will no longer have to struggle with reluctantly having to raise their prices, in order to cover their ever increasing costs to do business!

And now, they won’t have to spend nearly as much on those outrageously expensive display and business card size ads in the local “Penny Saver” and or local newspaper business service directory section(s.)

 Lots Of Times Simply By Strategically Adding Additional Services To Your Long Term Marketing Mix Can Be Extremely Profitable!

(Don’t You Agree?)

Plus, since you’ve already got a built in daily in store walk in customer base established, they will no longer have to bounce all over the place and wait in no man’s land, until their next customer/client calls!

But here’s the other really cool part! Your business now has an additional (incredibly popular) service, that you can market to both your local twitter and Facebook followers (and of course) your opt in email list as well!

And since your proposal saves them a mini upfront out of pocket fortune, on their traditional front end advertising costs. You’re merely asking for 30% of their front end gross profit per customer.

Because (as you so skillfully ) pointed out to them. They get to keep 100% of any future referrals your customer may send them, and you make a house call to those new first time customers! Meaning, as long as they didn’t service them initially inside your Pet store, they get to keep 100% of that first sale, minus any upfront cost they may incur, in order to service them.

It’s all gravy, minus any of their other normal costs, like driving to see the client and any supplies and or other products or services they may need in order to properly service that particular client.

You invite them to put a pencil to your proposal, in order for them to (hopefully) see “how” and “why” what you’re proposing makes total economic sense for both of you!

Plus, you also suggest that you both start systematically cross promoting each other by giving each others customers your time sensitive VIP discount coupons, after their very first purchase they make from either of you.

So in other words, after one of your in store (walk in customers) makes any kind of purchase, they automatically get a time sensitive (meaning date stamp) is written on the coupon and they have X amount of days to set an appointment, in order to save X% off of your “brand new” in store pet grooming service!

And likewise, any time the “pet groomer” does a referral client for the very firs time, that was not originally an in store customer of yours, they’ll hand them a time sensitive (date stamp) “VIP new customer only” discount coupon, that entitles them to X% their very first purchase at your store.

And that’s “how” the two of you will scratch each others back! In part you’ll discover a couple of more incredibly simple ways to make a proven concept like this work! Including a real life example, of a major fortune 500 company, that actually started out using this very concept! So yo definitely wanna stayed tuned for that!

In the meantime, hopefully you can see (or you’re starting to), “how to” promote your business, especially when your traditional ad/marketing budget, is extremely tight! You can right?

Now as is customary during this part of our show.

Please share your extremely valuable comments (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!

As always, if you got any value out of this post, please Google Plus or tweet this.Thanks!

And be sure you grab your explosive free 22 step small business marketing idea kit series, because it will help you increase your profits by at least 25% in the next 90 days or less.

And help you master your Effective communication in marketing skills.(No matter what your particular Niche marketing market is.)It’s a $97 dollar value and it’s free!