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7 Cost-Effective Ideas To Grow Your Business

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Unique promotion ideas are one of the keys to a successful business.  A successful business is a business that can spark customers’ interest, so they decide to buy the products or hire for the service your company offers.

In this case, creativity is one of the most important things to have to grow your business. Especially in today’s digital era, the competition is becoming even fiercer. It is very normal to see a company open just mere years or even months, and diminished after. This is caused due to the lack of innovation and sales promotion ideas that can be offered to potential customers.

Any company that wants to succeed must expand, but doing so can be expensive for small businesses. Due to a lack of resources, it may be tempting to cut corners when trying to expand. The company might not even have a lot of budget to spare for marketing. Thus they think they are lacking and don’t have the advantage to grow their business.

Well, rest assured because we are here to provide you with 7 cost-effective promotional ideas that you can do to increase sales!

Offer Discounts for Favorite Products

This sales promotion idea is the most popular promotional idea. This strategy has been proven to be effective in attracting the attention of consumers.

You can choose the products that are customers’ favorite and cut the selling price to attract more sales.  However, you should also consider other costs before setting a discount or rebate for your product. Otherwise, you can make your business at loss due to not thinking about the other cost-related factor

Offer Vouchers

Similar to discounts, the procurement of vouchers will also provide discounts on the products you sell. However, instead of only providing a discount on certain products, you give the price rebate with a twist. Moreover, providing vouchers will give an exclusive impression to the customer.  Especially if the coupons you offer have a time limit. This can make them want to use it before they expire.

Start a Flash Sale

Flash sale is a marketing strategy that has been around for a long time but is still used by many companies. A customer will act impulsively if faced with a certain time limit.  That way, they will buy an item that sometimes they don’t need but has a low price. This idea is also quite effective if you are cleaning the warehouse or are looking to deplete some of the stock of your goods.

List Your Business on Google My Business

Why not leverage the power of the top search engine in the world to help customers find out about your business? Having your business appear on google’s list of businesses definitely will help to make your business more legit. Thus potential customers will be more inclined to buy your product or hire your service.

You will get many benefits from registering on google my business. Some of them are, you can appear on the map when customers search for local businesses, and you will also provide customers to review your business on this largest search engine. Thus, when customers see lots of positive reviews of your business, it will definitely help to increase their trust level. To get a positive review, be sure to always provide only the best for your customers!

Build a Website

No matter who your target market is, your company will gain from having a website. Internet users of all ages use it to look for goods and services. You can create your website using free website builders.

Create a Mailing List

Whatever type of small business you run, email marketing is essential for retaining customers. This is a low-cost method of attracting clients and expanding your small business.

Join Local Events

Participating in an event can also help to give your business huge exposure if you do it right. Some of the things you can do to take a spotlight during a local event are to make sure that your booth is designed prettily and creatively. Thus people will be inclined to visit to know more about you. It is better if you don’t do hard selling during the event, give a little story here and there just to let the guests that come over have a little notion about you. Hard selling during an event most times only results in people losing their interest.

Also, make sure you give them something that will make them remember you. For example, you can give out a free water bottle for the first 100 people who visit your booth, or you can also ask them to take a photo at your booth and post it on social media for them to get the gift. This is also a great way to build your social media presence!

Giving out merchandise with your company logo and social media information is one of the most effective strategies you can do to market your business. Water is essential during an event. People may feel thirsty, but do not want to buy water. Thus, providing them with a water bottle will draw attention. A water bottle is one of the most effective merchandise to give out because it is affordable, usable, and easy to create according to your needs. We recommend you check out My Own Water, a trusted water bottle company that can help to provide you with the right water bottle merchandise to grow your business.

 

Kossi Adzo is the editor and author of Startup.info. He is software engineer. Innovation, Businesses and companies are his passion. He filled several patents in IT & Communication technologies. He manages the technical operations at Startup.info.

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