10 low-Cost Ways to Market Your Business - Part 2

4. Develop an electronic mailing list and send old-fashioned letters. Most businesses have harnessed the power of e-newsletters—and, you definitely should be sending out one, too. It's very cost-effective. But, exactly because e-mail marketing is now nearly ubiquitous, you can quickly stand out by occasionally sending personal, surface mail letters to customers and prospects. Just make sure the letter delivers something customers want to read, whether an analysis of recent events in your field, premium offers, or a sweetener personalized for the recipient (a discount on his next purchase of whatever he last purchased, for instance). "This mailing has to have value to those that read it, so it reflects the value of what you offer," says Leslie Ungar, an executive coach in Akron, Ohio. "Remember, the best way to sell is to tell."

5. Boost your profile at trade shows and conferences. You can quickly create signage, glossy postcards with your contact information, product news inserts, or an event mini website.

6. Combine business with pleasure—and charity. Spearhead an event, party, or conference for a cause you care about. That puts you in the position of getting to know lots of people, and shows off your leadership skills. "I host an annual baseball game where I take hundreds of clients to a Cubs game at Wrigley Field," says Kate Koziol, who owns a public relations agency in Chicago. "Last year, I took 300 people and we raised $10,000 for a local children's hospital. Few people turn down a game, and it's a great networking opportunity for guests. It lets me reconnect with current clients and impress potential clients."

7. Create a destination. Bookstore chain Barnes & Noble has its coffee bars. Furnishings giant Ikea offers child-care centers and cafeterias. Why? So, customers gravitate to the stores to enjoy an experience, and to hang out for a while. Sunday morning at Barnes & Noble becomes a pleasant weekend routine, rather than a shopping errand. Steal this idea. This tip isn't limited to offline destinations, either. Using pay-per-click advertising, you can cheaply drive traffic to a one-time news event or specialty offerings, points out Jay Lipe, a small-business marketing consultant based in Minneapolis. Lipe recently set up a website for ‘Games by James,’ a retailer of board games, and quickly attracted customers via PPC ads. "The effect was overnight," says Lipe. "Traditionally in the marketing world, it takes weeks or even months to generate acceptable awareness and traffic. Here we saw traffic spike overnight."

Other tips to become a destination:

• Add a free advisory service, whether party planning ideas or investment seminars.

• Add customer loyalty services, such as free shipping for second-time buyers, or rewards when customers spend a certain amount.

Reprinted from MelissaData.com