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Famed author Mark Twain once said, “Many a small thing has been made large by the right kind of advertising.”
But advertising can be expensive, and in a tight economy, many small businesses cut their marketing budgets first because of cash flow concerns. However, when times are tough, it’s even more important to keep your business brand front and center.
During an economic downturn, clients, customers, and consumers have less money to spend. This means that when they’re ready to buy, you want your brand to be at the top of their list. Social media is undoubtedly one of the most effective and affordable ways to engage your customers and keep your brand top-of-mind, but it’s not the only way. Here are ten tried and true marketing strategies that can help you market your business on a shoestring budget.
You should be marketing all the time — wherever you are. Therefore, you need a compelling elevator pitch. Research shows the average attention span of an adult is about 6 to 8 seconds. That’s all the time you have to grab someone’s attention. If you successfully engage them, then you only have a little over a minute to really sell them on your product or service. Invest the time to craft a killer elevator pitch. The return on your investment will pay huge dividends in terms of creating business opportunities.