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Marketing your small business on a budget

Marketing your small business on a budget

Marketing your small business on a budget

(NC)-When people consider promotion for a small business, they think of huge advertising campaigns. But it doesn't have to be about elaborate television ads or radio jingles. There are a number of excellent ways for small businesses to promote or sell themselves without a big budget.

Networking

Networking and word of mouth referrals are effective ways to reduce out of pocket costs and cultivate a clientele. The valued opinion of influential customers is the most important and cost effective promotion that a business can develop.

Community Involvement

Consider sponsoring a youth soccer team or walk-a-thon. Doing so can expand the personal network of contacts, however, this should be the by-product of genuine interest in the community.

Special Offers

Small business owners should consider special promotions and events that can be made to work in concert with any one or a combination of the above methods. This can be in the form of door prizes, 'welcome wagon' gifts, free passes, free coffee, or even honouring a competitor's coupons.

"There are hundreds of great marketing ideas out there. Some are straightforward - some are more complex," says Brian Holt, Director, Small Business at Scotiabank. "You can find more great strategies browsing through the business section at your local bookstore. Most marketing books are full of ideas, many of which can be easily adapted to your business."

Scotiabank has the knowledge and resources to help small business owners succeed. With a small business expert in every branch, Scotiabank is here to help small business owners find the money to reach their goals. For more information, see your local branch or visit: www.scotiabank.com/smallbusiness.

- News Canada