5 tips to reduce your marketing costs

Running a successful business relies on other people knowing about your products and services. Marketing is how you communicate what you have to offer, but it can get expensive. To reduce your marketing costs, try the following:

1. Activate your personal network

   Nail your elevator pitch and be prepared to share it no matter where you go. Tell everyone you meet about your company so they can help spread the word.

2. Offer contra deals and cross promotions

   You’re not the only entrepreneur looking to reduce marketing costs. Reach out to other businesses to see how you can help each other.

   For example, is there a product or service that enhances what you’re selling? Calling them out on your website, even giving ad space to those businesses, could make sense if it benefits your customers and if the other business is willing to do the same for you.

   Offer to help other businesses in exchange for their services. Fellow entrepreneurs looking to reduce their own marketing costs could be receptive to bartering.

3. Ask for discounts

   They’re available for many small businesses and their owners. You can access some through the Canada Post Solutions for Small Business^TM program.

   Don’t leave money on the table. Whether you’re renting a vehicle, signing up for services or buying equipment, you need to ask if there’s a small business discount. The worst you’ll hear is ‘no’!

4. DIY whenever you can

   Don’t pay for services you can reasonably provide yourself. For instance, you can create effective, integrated direct mail and digital campaigns on any budget with Canada Post’s Snap Admail^TM tool. No marketing agency or design skills required.

5. Analyze all campaign results

   Scrutinize your past efforts and results. Review any paid marketing campaigns. If the results aren’t real and reasonable, end that campaign and put your dollars to work some other way.

   Campaign analysis takes time, so small businesses often let it slip, but even a quick analysis can prevent you from throwing money away.