Are these low-cost marketing options on your checklist?

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When starting a small business, there are always checklists to go through. You need a checklist for your business plan such as to ensure finances, appropriate locations for a physical business, and identifying customers and competitors. You need checklists for enacting your plan like getting the right permits, meeting all kinds of building and safety codes, etc.

There are also a checklists regarding options for payment, marketing and advertising. Many new business owners, especially those who are a bit older, aren’t aware of how extensively technology has affected many aspects of the business arena. Here are a few reminders for those people.

Social media marketing

A social network presence is pretty much mandatory these days for businesses of any size. On Facebook, for example, you can find pages belonging to anyone from corporate giants like Tesco and Coca-Cola down to your cousin who is trying to sell home-made candles from her living room. Either way, businesses can reach far more potential customers when they incorporate social media advertising. This is even more the case when you’re targeting younger demographics and the best part – it’s free marketing. You might have also noticed that many businesses now have official Twitter accounts to use trending topics to get their name out in the mix. Youtube is another website that can help business promote their location, events and processes through. Another great aspect of marketing through social media is that you can obtain instant feedback and suggestions to help you improve quality and efficiency.

Payment options

Payment systems have changed a lot as economies have evolved over the millennia. Barter systems moved to currency based systems which gradually incorporated forms of credit (IOUs, checks, and eventually credit cards). Technological advances give us new payment methods today like debit cards which are accepted almost everywhere. Many retailers, like Starbucks for example, have customer cards on which consumers can purchase their goods and services. Retailers like Wal-Mart accept PayPal which was one of the first online payment formats. Online casinos are a sector that allows you to pick your deposit method. Another innovation in the online marketplace was the advent of bitcoin which continues to be the most trusted cryptocurrency on the web.

Customer loyalty schemes

Customer loyalty programmes are also de rigueur for today’s new businesses. These also come in a multitude of options. Tiered memberships can be bought or earned and they can reward members with many things. Amazon’s Prime offers members free deliveries and free video streaming. Larger businesses often employ apps to allow customers a payment option and access to special promotions or prizes from the convenience of their smart phones.

This is by no means an exhaustive list for business owners in the 21st century but hopefully it will prepare entrepreneurs to research the options that are available and to implement the best ones available to be competitive in the digital age.