Dear Business Owner with no money…. I have some good news for you… You have some options.
So I’ll start by saying that the phrase “You have to spend money to make money” is absolutely false. If anything, the quote should be “You have to invest money to make money”. Investing into your business is totally different than the action of just SPENDING money.
Now the key to the whole thing though is that you’re not only using your money wisely… but you’re using your time wisely as well.
Marketing is the activity that drives attention towards your business with the intent to quality and warm up an audience enough for you to just sell them.
Here are 4 ways you can begin generating revenue with an absolutely empty wallet:
1. Create Captivating Content
One of the best ways to generate revenue is through drawing people to you through content that captivates their attention. If you really reflect on what it is that you sell, you should be able to create what’s known as a Customer Avatar… That ultimately is a descriptive model of the ideal customer that you’re targeting.
- Are they male or female?
- Do they live in a particular location?
- What problem does your product or service solve?
- When do they realize they have a problem to solve?
- What alternatives do they seek?
- What platform are they on?
- What other interests do they have?
In order to create captivating content, you must be able to answer some of those questions so you are aware of how to even capture their attention.
Once you capture their attention, and your content is relevant to them… the sale is much easier!
2. Speak to more people… I mean A LOT more people…
I’ve spoken with HUNDREDS of business owners over the years, and I’ve found that the average business owner who does NOT spend any money on paid advertising typically speaks to no more than 10 people per day.
Now depending on what it is that you’re selling, that may be ample amount of contacts, however for the large majority of business owners…. It’s FAR FROM ENOUGH!
If you designate more time to connecting with more people throughout your social channels, it will dramatically increase the number of contacts that are aware of your brand.
The key to this activity though is to TRACK. You MUST use some form of relationship management tool to track conversations so that you’re successful in leading them to your offerings.
3. Make Partners (Affiliates and Ambassadors)
If you’d like to amplify your reach, you can do the work yourself OR you can build a team of ambassadors or affiliates to spread the word for you.
This will involve establishing some form of incentive or plan to keep them motivated.
It’s also imperative to create a model or best practices for them to follow so that they’re aware of the right way to promote your brand and the wrong way to do so.
If you’d like to learn more about some of our Toolkits to prepare you to setup you’re own Affiliate or Ambassador program, check out the link below:
4. Create ways to remain Top of Mind
Getting people’s attention is key, however being Top of Mind is one of the most important things you can become as a business owner. Most of the time, when you have a touchpoint with a prospect, it’s not the BEST time for them to patronize your business.
The BEST time for them to do so is when they realize that they need something and they say, “OH YEA! Doesn’t John do that? Let’s call him.”
There are so many ways to remain top of mind, and I’d love to share some of them with you.
If you’re interested in learning more about any of these methods to generating more sales with an empty wallet, check out the link below and schedule a brief chat with me so I can share some ideas with you:
Speak with you soon!