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Trying to find enough working capital to keep a small business running is a constant challenge for most entrepreneurs. Advertising is a necessary but sometimes costly expense for new companies. Using alternative marketing and advertising strategies can cut those costs and provide more cash for other vital parts of the business. Here are a few suggestions:

  • Many companies have found it advantageous to pair up with businesses that provide complementary (but not competing) services or products to cut costs on marketing. For example if your firm sells bridal gowns, you could partner with hair or nail salons, jewelry companies or even travel companies to produce joint mailers and split the expenses.
  • Becoming recognized as an expert in your industry is a great way to get some free advertising. You can establish yourself by writing articles for a local paper or magazines. You could also teach a class or speak at community events. Even creating a website and writing regular articles about your industry can help build your reputation as an expert, creating new customers with minimal cost.
  • Asking your current customers for referrals is a perfectly good way to market your business. You could send out post-sale or service emails asking for the names of people who might be interested in patronizing your company or you could pass out business cards at the point-of- sale with a verbal request to pass it on to friends.
  • Try making your invoices do double duty as advertising. You can include mailings about sales or promotions with your monthly invoices. Similarly, take advantage of marketing opportunities at point-of-purchase to send customers out the door with coupons or other advertising materials. This will save money on sending out separate mailings.
  • Lastly, don’t underestimate the value of holding on to current clients. Even something as simple as a hand-written thank you note to customers can boost retention and sales immensely.

Taking a close look at your marketing costs and tapping alternative ways of getting your name and brand out there can make a significant difference in how much you cash you retain for working capital. Just a few changes can help your provide your business with the extra funding it needs.


Search for Small Business Loan Sources and receive your matched lender list
AND received FOUR free Business eBooks worth $39.95!
Search for Small Business Loan Sources