Small businesses do not have the ability to use expensive marketing methods because of their budget constraints, so using low cost methods can be very helpful. In this paper, we try to introduce a number of these methods briefly.
Send a sales offer to your customer who has just purchased from you.
If, for example, your customer has bought a suit from you, you can send a letter to him and thank you for the previous purchase and inform him that for the next purchase, for example, you have a discount of 20%. To find out if you can sell this offer, set time to your suggestion.
Newsletter
Did you know that the cost of selling to a new customer is six times higher than selling to an old customer? By using the newsletter you can focus your marketing on your old customers. If the cost of the newsletter is high for you, you can use this email at a very low cost. You can always submit a special offer to your previous customer in your newsletter.
Common marketing
If you think that you are not able to bear the cost of marketing alone, look for a partner whose product is appropriate for your customer or that your products complement each other. By offering a marketing plan you can save on marketing costs. In addition to this, you can provide better service to your customers.
Place your brochures and advertisements in all your company's letters.
This will not cost you a lot, and you will definitely be surprised by the outcome of the work, which people will find out what your suggestions are and give you a purchase order.
Provide specialized seminar
Providing a seminar on your own work or participating in related seminars can play a huge role in introducing your business. If you want to hold a seminar at your work place, remember that offering a free seminar cannot attract your customers. Receiving a small fee, in addition to covering some of the costs of the seminar, can also help you attract the audience. Of course, such seminars should be of great quality and with planning.
It is very hard to see a bankruptcy and the end of a company being a company. The 10 main reasons for bankruptcy in small businesses are as follows
Lack of sufficient capital
Money can be the main cause of all bankruptcies in business. Small business owners need to estimate how much money they need to start their work. They manage it well and then keep it at a good level and present themselves as a successful trading company.
Norman Scarborough, a professor of business at the Presbyterian College in South Carolina, says: "When you do not have enough capital and you face a lack of capital, this can be the very beginning of a downward spiral that you cannot avoid."
Low liquidity flows
When liquidity cannot compensate for costs and other expenses, even those who have gone through their early stages of growth will also fall. Take care of the rate burn. This term has been developed by dotcom companies. To determine how much liquidity has been wasted or so-called fuel, Scarborough says, "Liquidity is just what's really worth it."
Inappropriate and inadequate planning
Inappropriate planning is, in fact, the cause of problems such as the lack of adequate capital and the weak flow of liquidity.
You should consider a coherent work plan, taking into account all finance, marketing, growth and other specialties. It can be very time consuming, because an appropriate planning is needed for weeks or months. Your thoughts and ideas will work when you go ahead with the right planning. Otherwise, your capital will be wasted at the end.
Not considering competition
Unique comments can be rarely found. It is very important that you take the necessary action. Scarborough says: "Many business owners do business similarly to others. Make sure you have something unique and different from your other competitors. "
Weak marketing
Are your customers satisfied with the activities and quality of your product? It is essential to develop your marketing strategy to find out who and why your customers are. Make sure your marketing strategy attracts more customers and thus distinguishes you from other competitors.
Not having the necessary flexibility
Small business owners know that a larger competitor with a higher level of liquidity and more employees can be a serious competitor to them. Never forget to be flexible. Customize your merchandise, business process and marketing so you can compete with big rivals.
Ignore the next step
Do not let your business progress slow down and make sure that you and your employees are focused on providing support and customer service.
The boss is excellent, the staff at the usual level
Examples of bankruptcies of some companies indicate how a successful and coherent business whose owner is very knowledgeable and interested in his job, and whose knowledge of his work is excellent, with inexperienced staff and The impoverishment can fall and become bankrupt. Make sure your employees have the necessary knowledge and skills.
Uncontrolled growth
A small business that grows very fast and fast can lead to bankruptcy. If the production of your product is not consistent with the demand on the market, the growth you are expecting and pleasing as a business owner can threaten your business and capital. Try to grow your desired and anticipated growth in your plans. Make sure you never lose control over your business and business growth