Attracting New Business on a Shoestring Budget

In a recent marketing workshop I attended, I discovered that most business owners rely on just two or three strategies to attract new business. Even well-established companies tend to rely on one or two strategies. However, there is a multitude of ways to drive new business to your door. Here are a few:

Networking. Perhaps the most commonly used approach by small business owners. However, it is often poorly executed. Many people attend a networking function and take the wrong approach by trying to meet as many people as they can. They bounce from person to person, handing out business cards like it is an Olympic event and they are vying for the gold medal. They fail to realize that the most effective way to network is to cultivate relationships and give referrals to other members first.

Referrals. This marketing strategy places a close second in preferred methods of generating new business leads. The key here is to develop a systematic approach to ensure that you take proactive approach instead than a passive one. Rather than assuming that satisfied client will refer someone to you, ask for that referral. Tell people who your ideal client is and ask for their help in finding these types of clients. The real estate agent who represented the seller when we bought our house, sends us a card every year and reminds us that she loves referrals. It is not pushy, does not sound like she