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Wyoming Business Tips for Dec. 10-16

December 1, 2017

A weekly look at Wyoming business questions from the Wyoming Small Business Development Center (WSBDC), part of WyomingEntrepreneur.Biz, a collection of business assistance programs at the University of Wyoming.

By Audrey Jansen, WSBDC market researcher

“I want to market my business, but I don’t have a very big budget. What can I do?” Loretta, Buffalo

Marketing is especially scary for a lot of reasons: the price tag, the options -- do I pick radio or advertise in newspapers? What is a targeted Facebook ad, anyway? And, add the pressure that success is riding on doing it well.

The good news is that you absolutely can market your business with what you have. Here are six ideas on how to do just that:

-- Create your elevator pitch. A business owner is the best person to market a business, but be ready to do so at the drop of a hat. An elevator pitch prepares you for that.

-- Fight for your voice. Start a blog, reach out to local news sources about sharing your story, and distribute press releases any time you have an event. Be persistent if you want people to know who you are and what you do, and why it matters.

-- Build a customer list. There is no marketing tool more powerful than the names, physical addresses and emails for your customers. Use these for email and print marketing, and also for conducting market research. This is a no-cost service offered by the WSBDC.

-- Make social media work for you. Be intentional if you want social media to get results. Do market research to accurately target ads which can be low cost, and make sure your posts are unique, valuable and relevant.

-- Use your customers to get more customers. Get reviews, testimonials and referrals from your best and happiest customers, and use them to spread the word.

-- Have a presence in your community. To build professional connections and relationships, you have to leave your office. Get out in the community and network, provide sponsorships, and collaborate with other businesses.

A blog version of this article and an opportunity to post comments are available at www.wyomingsbdc.org/blog1/.

The WSBDC is a partnership of the U.S. Small Business Administration, the Wyoming Business Council and the University of Wyoming. To ask a question, call 1-800-348-5194, email wsbdc@uwyo.edu, or write 1000 E. University Ave., Dept. 3922, Laramie, WY, 82071-3922.


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