If you want to keep your cash flow running strong, you have to pinch pennies wherever you can. There are a lot of ways to market your business, and when it comes to advertising, you don’t always get what you pay for. Indeed, it’s more about tact than it is about expense. Here are five budget-friendly franchise marketing tips.
- Reach a wider audience through social media. One of the best and most inexpensive ways to reach out to a wider audience is through the internet, and there’s no better way than through social media. You want to get plenty of pictures of your store out there and the products that you sell. You should create incentives for your employees to get the word out on their own social media feeds and fill them with plenty of useful hashtags to give your business a real online presence.
- Start a weekly newsletter via email. One of the best ways to keep your customers loyal is to keep them in the know with the different sales and promotional events that you have going on. You should always have something to offer your most loyal customers on a weekly basis. Whether it be 10% off when you say a keyword or when you print out a coupon, you should always offer incentives for people to stay loyal. This is also a great way to create a voice for your specific location that your audience can connect with.
- Give out free samples of overstocked items. In a perfect world, we would always order the exact amount of every product that we need without ever running out or ending up with too much. However, in the very least you can always use overstocked items for promotional purposes. Any way that you can get people to walk in your door is a way to make more sales, so if there is a way that you can offer those overstocked items for free and get people in the door, then you can potentially increase your sales of other items in a very dramatic way.
- Find out what others within your franchise are doing. When it comes to franchise financing, there are a lot of resources that you have available to you. You can go to sites like FranchiseExpo.com to get connected with different owners of franchises just like you. That way you can see what does and doesn’t work for those people and get a better idea of the direction you would like to go with your marketing strategies. You may find that you have a lot more resources available to you than you ever thought possible.
- Generate more word of mouth. To this day, word of mouth is one of the best ways to really generate business. If you hold regular events at your location to get the word spread about your individual voice within the community, you can really expand your customer base. No matter what, it’s important that you develop a voice and that you get the word out about all of your promotional efforts. The more organically this message is passed on, the more authentic it will be, and the more authentic it is, the more effective it will be.