Effective Marketing
Question
What are the most cost effective methods of marketing?Answer
It depends upon who your customers are and the message you are trying to get in front of them. All forms of marketing have a cost, but customer referrals and word of mouth are generally the lowest cost and most powerful form of marketing. Public relations can also be low cost and powerful for the creative entrepreneur, e.g. getting articles and news blurbs written about your company and your service has a high marketing impact, but does not necessary carry a large price tag unless you have engaged a PR consultant to assist you. Of all the direct marketing forms, email and online marketing tend to be very cost effective, but will not necessarily work for all customer segments. If you are selling elder care services, for example, any form of online marketing may not be as impactful as other forms due to the demographic of your target customer.
- February 14, 2014
- Sales and Marketing
- Ask a New Question
Nolan Manteufel September 21, 2007
Here’s a fun marketing example…
Monster Mowers (in VentureProfiles) hired a sister to paint a sign and gave a price-discount to a current customer in exchange for placing the sign in their yard.
The yard had a lot of exposure to neighborhood traffic and the season was exceptionally rainy. Their business tripled and they began turning away work that was outside of their commuting distance.
When the Monster Mowers Entrepreneurs opened up bank accounts at the local Credit Union, the teller assisting them happened to drive past their sign every day on the way to work!
Good marketing strategies are critical to any business’s success. Monster Mowers was no exception.
Please login to post a comment.
Member Log In
Register Now
Register now to gain access to all of the resources available on our site. Basic membership is free!