You’re a passionate entrepreneur and serious about growing your business. Sometimes it can be challenging however, to both select the right marketing strategies to attract new prospects, and do it without breaking the bank. This article focuses on 4 things you can do to attract more, qualified prospects without taking out a loan or refinancing the house.

maximize your marketing dollarsKnow your audience. If you don’t know them you won’t know the best places to find them. You risk wasting time and money speaking to people who aren’t your qualified prospects. Get super clear on who he/she is- including needs, challenges, likes/dislikes and where to find him/her. If you work with young, ambitious professionals for example, you might look for associations, directories and events for such groups and see how you can get connected both offline and online e.g. which social media outlet. Although you might want to spread your message to “everybody, everywhere” and concerned about excluding people, this dilutes your message. Make your message potent by using the right channel of communication to the right group(s) of people. When your message is focused and clear, your results tend to follow suit.

Use free technology tools. Maybe having the best technology with all the bells and whistles isn’t necessary for you to provide great customer service and reach your goals. Review your goals and determine the technology tools necessary to support your business now and move you to the next stage. For example, if you plan to offer virtual conferences or teleseminars to attract prospects, consider using free or low cost tools like InstantTeleseminar, Google Hangouts or Skype. Once you build some momentum and develop a larger marketing budget, you might consider using more robust tools that cost more, but offer greater capabilities and automation (aka: save time and make more money!).

Follow up and respond. Too many people invest time and money into marketing strategies like networking or speaking, and then fail to follow up consistently with their new connections. Don’t let that be you. It doesn’t need to be complicated; you don’t need to follow up personally with everyone you meet at an event. Pick those who stood out to you, those with whom you made the best connection, and anyone who indicated an interest in your products or services. Similarly, if potential customers reach out via your website or in response to an email campaign, be sure to respond in a timely fashion. Consider creating a “nice-to-meet-you” template that can be easily personalized. You can save more time and respond even faster to prospect inquiries when you know the next step in your process.

Know what to do with prospects. Marketing won’t be of much value if you don’t know what to do with prospects when they respond to your marketing efforts. You must think through your sales process or sales funnel to move people to say “yes, let’s work together!” or “yes, I want your product”! For example, if you send out regular email campaigns to your database and someone contacts you with an interest in your product or service, you need to know what questions to ask them and/or how to get them started.  Sometimes, it can be as easy as providing a link directly in your email to the product or service. Other times, you may be out at a business function and someone hears your introduction and approaches you saying they’re interested in working with you. Ok, now what? You must know your next step and lead people through to the sale. Otherwise, your marketing efforts can be wasted or worse, lost.

Ready to implement these steps for maximizing your marketing dollars? These are just some of the steps I cover in my 7-month Signature Business Building Program, designed to take the guess-work out of growing your business, provide you with clear direction, and get you feeling financially successful! Choose from private coaching or a mastermind coaching group. Or, just get started with a Business Breakthrough Session to get the boost you need right away.