How to Market Your Business on a Tight Budget

Marketing is vital to a business s growth. Unless consumers know about a product, they will never buy it. Often this fact is overlooked, as a lot of people wrongly assume that marketing involves huge financial expense. Not all marketing techniques require astronomical spending.


Step1
Define your target audience. You wouldn t want to waste your marketing efforts selling to the wrong person. Be as specific as possible.


Step2
There is no substitute for good research. Find out about other players in your sector through databases and classifieds sections of local newspapers.


Step3
Create a value proposition for your business. How does your business score over your competitors?


Step4
Create a marketing plan and follow it. Consult expert marketing consultants to help you with it. Many of them come cheaper than you think and can help you allocate your budget more effectively.


Step5
Get creative and use unconventional but effective channels of marketing. Let your keyword be networking. Attend local business association meetings. Volunteer to speak at business conventions. Create a news angle for local radio stations or TV channels, which is not only useful for customers but also revolves around your business interest.


Step6
Retain your existing customers. Initiate loyalty programs. It will cost you much less to keep a regular stream of customers than win new ones.

How to Sell Your Product on TV

Want to give your credit card a breather and, instead, sell something on the Home Shopping Network or QVC? It can be a long shot, but one that can pay off if you have the right product.




Step1
Think about the benefits your product offers. Can it be demonstrated on television? Does it solve a problem? Is it topical or timely in some way? Watch QVC and Home Shopping Network (HSN) to see what features they tout for products they represent.


Step2
Go to HSN.com and click on Vendor Information for an application. For QVC, go to QVC.com and click on the Frequently Asked Questions section, then on Vendor Information.


Step3
Complete the application and then mail it along with a catalog, brochure, picture and/or a sample of your product.


Step4
Wait. It may be weeks or months before you hear back from the companies about their interest level in your product. And if you do, they may need more information. For its second round of evaluation, QVC asks for a sample. HSN says to give its staff at least 45 days to evaluate your product. If the merchandising specialists from HSN want you, they'll contact you to set up an appointment to meet with a representative.


Step5
Look for an opportunity to attend a local qualifying meeting with QVC officials. The company frequently sends representatives to major cities to investigate local products, which gives you the opportunity to dazzle them with your product and personality.


Step6
Be prepared to pay to get your product on the air. This will vary based on feedback from HSN staff, although QVC does not require such payments.


Step7
Gather estimates from vendors on how quickly you can ramp up production. With large volume orders the rule at HSN and QVC, you'll need to demonstrate you can meet supply needs.