Low Cost Business Marketing for Small Businesses

[Mika]

Marketing plays a huge role in sales but marketing costs money. As a small business owner, you are always on a tight budget and you cannot spend a lot of money on marketing. If that is your case, here are a few low-cost marketing ideas for small business owners, which you might consider using for your business

Free products

People are always looking for things they can use. What if they receive useful things for free? Yes, they will grab it. When I say giving product for free, I don’t mean to tell you to give your main product for free. You have a furniture store, you can give them a “Home decorating booklet,” which also lists your products. You sell bikes, you can give key rings with your logo and company information embossed on it, a fee helmet, a free T-shirt, a free hoodie, etc. You sell kitchenware, you can give recipe booklet for free.

Discounts

Yes, discounts are a good marketing strategy to build sales. You can first increase your selling price by 10 percent and then give a 10 percent discount. This is a good strategy because the buyers will tend to believe that they have saved some money by buying from you. You can also give discounts without increasing your price.

 

[Jasmine]

Increasing the price of the product first and later giving discounts on the product is not an ethical way to build sales. You cannot trick your customers with this tactics as customers are wise. They know how to compare the price and buy from the store where they will find the product comparatively cheap. When you increase the price and then give discounts, the price of the product will more or less be the same and the customers will know this by doing a simple research on the similar products. If you want to give discounts, cut your profit margin.

 

[Mika]

You are correct. But research on consumer behavior says they tend to buy the product that is offered with discounts compared to the product with no discounts. When they see discounts, they will hardly make research on other sites because the word discounts work heavily in the mind of buyers.