Small businesses have been far from exempt when it comes to feeling the effects of the current economic climate of the United States. Many businesses, both small and large, have felt the crunch and have needed to adjust their budgets as such. Often, marketing 
budgets are one of the first areas a company chooses to cut back when financial hard times hit. Businesses can attempt to turn to banks to lend more capital in order to keep operating, but many banks have tightened their lending restrictions. According to a recent study, mid-sized banks are typically the ones that are likely to lend to small businesses. However, these banks have unfortunately been the hardest-hit when it comes to the economic downturn. The inability of mid-sized banks and the unwillingness of large and small banks to lend to small businesses has had a marked impact on small business budgets and success rates.
Luckily, there are several ways that small businesses can market products and services on a very minimal or non-existent budget. The advent of the Internet as a marketing tool has made it more possible than ever to showcase a brand without breaking the bank.
Being the Voice of an Expert
One way this can be accomplished would be to showcase the business as being the voice of an expert in the industry. This can be accomplished by posting video tutorials about things that the company specializes in, or how-to articles on subjects related to the product or service offered. Appearing to have an expert point of view can entice customers to a business website, therefore generating more web traffic and potentially driving up profits.
Use Advertising Space Shrewdly
Another way that small businesses can make the most of a minimal marketing budget would be to use any purchased ad space wisely. While it may seem counterintuitive, larger, more visible ads are not always the most effective choice. Repetition can also draw in customers. Consider that frequent website visitors may be more likely to pay attention to a company ad if it pops up every time the site is opened. It is also possible to increase the size of an ad over time ? site visitors may be more likely to notice if they see the same company becoming more invested in a particular ad space. Utilizing focused PPC strategies may be a good fit for businesses on a budget. However, it depends on the industry you?re in as more competitive industries would require bigger ad budgets.
Ensure People Can Find You on the Web
Small businesses are also wise to make sure that the company can be found with very minimal effort in a typical web search. Adding your business to an online business directory is a good start. It?s extremely important to make sure that these listings are accurate and up to date. Small businesses in particular can suffer if customers are unable to find either a physical location or a website. Making certain that popular search engines such as Google and Yahoo! have correct listings is a free and easy way to make sure customers and potential customers find the right business.
Small businesses can utilize many free or inexpensive marketing strategies to help grow a customer base. Since banks are no longer willing or able to loan money to many businesses, creativity when it comes to utilizing resources that are readily available is a must. An infographic from entrepreneur.com showcases several other ways that businesses can make the most of a small marketing budget. Small businesses as a category are often known for their ingenuity. Finding ways to market a business successfully should be no exception. The more creative the marketing, the more likely a business is to bring in customers.
Megan Totka is the Chief Editor for?ChamberofCommerce.com. She specializes on the topic of small business tips and resources. ChamberofCommerce.com helps small businesses grow their business on the web and facilitates connectivity between local businesses and more than 7,000 Chambers of Commerce worldwide. She has spent time working for major? View?full?profile
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