4 No Cost Marketing Initiatives

Looking for ways to market your business on a limited budget?

You're not alone. An informal poll of my clients confirmed that most are looking for ways to market their businesses on the cheap.

I support this strategy. In fact, I recommend slashing your marketing budget and filling your sales funnel without spending on advertising.

There are many marketing initiatives that do not require a major financial committment. A lot can be accomplished with both time and energy.

Here are four ways to market your business at no, or little, financial cost:

1) Teach: to borrow a phrase from Brian Clark of Copyblogger, "teaching sells." Showcase your product or service. Host a presentation, seminar, conference call or a webinar. And do it for free. Show people what you can do. Magical things happen when you showcase your skills. Your sales funnel will fill up for you as you generate brand awareness and develop credibility.

2) Network: nowadays, there are many ways to network. There are leads groups, business associations, social networks and more. Some groups may cost money but there are many groups that you can join for free, particularly on-line. The key to successful networking is to give more than you receive. Dedicate quality time and energy to the network and the referrals you receive will grow exponentially.

3) Blog: a good blog takes commitment, but it is an excellent way to add value to your marketing. Even if you do not have many followers, the act of posting weekly entries about your product or service will force you to better communicate your key marketing messages. It's also an outstanding way to advance your target market through the sale funnel. Leads and prospects learn more about your product or service through a blog and thus take a step closer to becoming a customer.

4) Partner: this doesn't mean take on a business partner. Rather, partner with a resource that could potentially refer you consistent business. For example, a real estate agent might partner with an executive recruiter. Or a loan officer could partner with a bankruptcy lawyer. Maybe a restaurant partners with an event planner. The list is endless but requires some creative thinking on the part of the business owner.

There are other initiatives that produce an excellent return for little investment. Search-engine optimization, affiliate programs and other ways to leverage the power of the internet are areas to explore if they make sense for your business model.

That said, the four suggestions above are an excellent way to move your business to the next level without a lot of money.

In all--as long as you dedicate time and energy--there are many effective ways to market your business for no cost.