Not all marketing costs big dollars, in fact there are many ways to market your business that cost little if any money at all! Here are a few ways to increase your turnover without re-mortgaging the house.

1. Word of Mouth

Often cited as one of the most effective forms of marketing, Word of Mouth marketing (WOM) is all about your existing customers recommending you to their friends and family so that they start to use your products and services as well. Great huh?

Many business owners make the mistake of thinking that WOM is an organic process, based on luck and natural business growth, and to some extent it is. However, what would happen if you offered your customers incentives to recommend your services? The fitness industry has always made good use of WOM marketing: “Bring a friend and join for half the price”. Think about what kind of incentive you could offer your customers to recommend your business.

2. Loyalty programs

Loyalty Marketing not only ensures your customers come back to you next time, in many cases it actually increases their buying frequency, and provides you with the opportunity to develop a positive and valuable relationship with them. Loyalty programs can come in countless forms and the most common are:
- Simple loyalty cards – eg. Buy 9 coffees get the 10th one for free
- Rewards Points Programs – eg. Qantas Frequent Flyer Points
- Loyalty Promotions that include affiliated companies – eg. Purchase 3 times from the butcher and get a voucher to the bottle shop next door

Whether using loyalty cards or sophisticated rewards programs try to find a way to give your customers an incentive to come back again, and again, and again, and again…

3. Database Marketing

You probably have a list of your customers, especially if you use accounting software. These valuable lists are probably the most under-utilized marketing tool you have. This list can be used to communicate information about new products, existing products or products on sale. Try segmenting your customer base and send them information relevant to them specifically, eg. Information on products that complement the products they currently purchase or products that are used in their type of business. Don’t let this goldmine go to waste.

Use your customers. It’s one of the easiest ways you can unlock your business’ potential by increasing your customer base or increasing your sales to existing customers.