First, let me say Happy New Year!

Second, as it is a New Year, it’s time to start thinking about how you’re going to make this year a better year - marketing yourself more, bringing in more business, and ultimately, generating more revenue. To get the ball rolling, I thought I’d share my “Top 10 Tips for Low-Cost Marketing,” which I’ve compiled from things I’ve done which have brought me success, as well as things I’ve learned from various marketing experts. Bottom line - I don’t have a huge marketing budget, but there are definitely some tried-and-true methods that don’t cost much (and some are FREE!), but will reap enormous returns for your business.

So let’s get to it, shall we?

Top 10 Tips for Low-Cost Marketing

1. Networking
This may seem obvious, but you’d be amazed at how many people don’t do this. Networking opportunities can be found at your local Chamber of Commerce (some events may be open to the public, while others may require membership), various business events (such as ribbon cuttings and seminars - your local Business Journal or newspaper should have listings), joining a local Meetup chapter (more information can be found at Meetup.com, and these are usually free or very low cost to join) or a Biznik group, or by joining a weekly networking group (like BNI.)

2. Write an Article
Honestly, this isn’t as daunting as it seems - this “Top 10″ list counts as an article. And I’m sure all of you could put together a “Top 10″ list regarding something in your particular industry. Once you’ve got the article, submit it to trade publications (like your local Business Journal) and websites (About.com is a great resource and has many topics that are often looking for guest writers), post it in a blog, and even send it out in your next newsletter. When you do this, you instantly establish yourself as an expert in that field, and gain credibility. And this little trick costs nothing!

3. Build Your Own Mailing List
This is probably my favorite tip, as buying mailing lists can be expensive, and you can often only use them once. While this does take more time and effort, you’ll save money and have more control over who actually goes in your list. Some ways to go about building your list yourself include collecting business cards at those networking events. When you meet someone, ask them for their card, and then ask if you can include them in your mailing list (I have yet to have someone say “no”!) Also, be sure to include a sign-up form on your website, and a link to that form in your emails. Other options include purchasing a low-cost list from your local Chamber of Commerce, or any associations that cater to the same audience you’re trying to reach. These lists generally cost much less than a list purchased from a service. Of course, there’s no guarantee how up-to-date these lists will be, but with a little time, you can clean up your list, and have a low-to-no cost mailing list that you can use as often as you like (within reason, of course!)

4. Email Marketing
Sending eNewsletters, company updates, or even links to articles such as this one, is a great way to stay in front of your prospects. However, when sending emails, be sure to always include a way to opt out of your mailing list, and immediately remove anyone who requests it. It’s the easiest way to help keep SPAM to a minimum, and it helps make sure that those who receive your emails really want them.

5. Give a FREE Presentation
This is another good one! Let’s say you’re a mortgage broker, and you’re targeting real estate agents. Why not invite your top 25 Realtor prospects to a FREE presentation about how your mortgage company can help their home buyers buy a house with no money down? Offer some FREE cookies and coffee, and I’m sure you’ll get a full house! If your business location has a conference room, that’s a great place to hold your presentation. Other places include your local library (which may rent out conference rooms at very low cost), your local Chamber of Commerce, or even a local coffee shop (be sure to ask first, though!) And like writing an article, when you’re giving a presentation or seminar, you are automatically looked at as an expert in your field, again gaining credibility.

6. Volunteer
This tip not only can help your business, but if you volunteer for something that you feel strongly about, it’s good for the soul, too. Whether you volunteer your time, your service(s) or even donate a product from your company, the non-profit organization you volunteer for will usually give you credit somewhere, either in a newsletter or online. Also, meeting other volunteers gives you another opportunity to network. And even better, you’re helping a cause you’re passionate about. Talk about win-win!

7. Ask for Referrals!
I know, I know - another obvious one, right? While this may be obvious to you and me, it’s surprising how many people don’t actually ASK FOR REFERRALS! I’m sure there are plenty of reasons, like not wanting to be pushy, or assuming that people will send referrals your way when the circumstance arises. However, people are busy, and sometimes people get forgetful. That doesn’t mean they don’t want to refer business to you, it may just mean they need a gentle reminder. A great way to do that is to include in all of your correspondence a request for referrals. It could be something as simple as “We appreciate your referrals” to something more specific like, “If you know someone that may benefit from my Top 10 Tips for Low-Cost Marketing, please send them to my website.” No matter what industry you’re in, if you don’t ask for the referrals, you may not get them!

8. Stay in touch
Depending on what you read and where, experts say it can take anywhere from 7 to 20 points of contact before a prospect turns into a sale. To err on the side of caution, let’s say we shoot for 13 points of contact. Just how are you going to accomplish 13 different points of contact, without being pushy or repetitive? Well, if you send one mailer per month - whether it’s a marketing postcard, newsletter or eNewsletter - that’s 12 per year right there. Of course, sending holidays cards add a personal touch, as do “Thank You” and “Nice to Meet You” notes. Even just shooting a prospect an email with a link to an article like this one that you think they may benefit from gives you yet another point of contact. And don’t forget to stay in touch with your existing contacts, as well. While it takes numerous times to convert prospects into sales, it’s much easier to get additional business from an existing or former client. They already have a rapport with you, know your product/service and, if all went well, have a good feeling about you and your company. So make sure to include them in your correspondence, as well. As a gentle reminder that you’re still here to help them, of course.

9. Share the Wealth
This is a great tip I learned from a marketing guru. Whenever possible, refer business to a client or prospect, and follow-up with them to “stay in the loop.” Any existing clients will really appreciate the reciprocal business from you, and any prospects will definitely remember that you brought them business - which will come in handy the next time they’re in the market for your products or services.

10. Create Strategic Alliances
Again, another tip I picked up from a seasoned marketing specialist: Find people you can partner up with to share referrals. Examples include a Graphic Designer and a Printer; Real Estate Agent and Mortgage Broker; a Builder and a Landscaper; or a Wedding Planner and a Caterer. When looking to build your alliance, think of your target audience, and others who may cater to them as well. If you’re an Insurance Agent, specializing in Home Owner’s Insurance, you may be targeting home buyers - so a good partner would be a Real Estate agent, as they tend to target home buyer’s as well. And when you create strategic alliances, you’re able to “share the wealth” more often, allowing you to double up on your marketing efforts!

As you can see, this is just a short list of ways you can stretch your marketing budget, and while still getting tremendous results. Good luck with your efforts, and I’d love to hear any success stories that you may have with any of these tips.