Marketing is essential for business growth –– but does not have to break the bank.
This month, we’ll explore six cost-effective strategies and tools to maximize your business’s marketing tactics without going overboard on your budget.

1. DIY Branding and Print Materials:
   Use tools like Canva or Adobe Spark to design your brand’s visual elements, including logos, social media posts, and even business cards or flyers. Their user-friendly interfaces and affordable pricing make them a go-to tool for DIY branding.
2. Explore User-Generated Content (UGC):
   Have customers create content featuring your products or services by encouraging them to post and tag you or your product on social media. User-generated content saves you time and effort on content creation and helps build a sense of community around your brand. You can even partner with influencers who specialize in UGC to outsource your content creation work.
3. Collaborate with Other Businesses/Influencers:
   Partnering with other businesses or influencers can expand your reach without the need for expensive advertising. Be sure to look for collaborations that align with your business’s values and target audience so you can keep your brand consistent.
4. Explore Community Engagement Opportunities:
   Participate in local events, markets, or pop-ups to engage with your community. These events provide excellent opportunities for networking and showcasing your products or services, often with lower costs of entry.
5. Leverage Email Marketing:
   Build an email list of interested customers and send regular newsletters or promotional emails. Many free or affordable email marketing platforms are available, such as Mailchimp.
6. Encourage Referral Programs:
   Embrace the benefits of word-of-mouth marketing! Encourage your existing customers to refer their friends and family to your business by offering incentives such as discounts or freebies. This can help generate new leads at a low cost.

With so many online and offline options and resources, marketing doesn’t have to be expensive. By leveraging these strategies and tools, you can effectively promote your business and reach your target audience at a more comfortable cost.

ADVICE FROM AN ASCENDUS LOAN CONSULTANT:

Last month, we asked Juan Guzman, a loan consultant here at Ascendus, for some advice when it comes to budgeting and applying for an Ascendus loan.  Here’s what else he had to say:

What items should small business owners have put together before they apply?

Before small businesses apply for a loan, I recommend the following:

• Understand the need for the loan: the lender will be asking if the loan is for inventory, expansions, or cash flow.
• Understand the lender’s requirement: Does my business meet the minimum requirements i.e., one year in business, time of operations?
• Check your credit report: addressing concerns earlier will allow a smooth process, be prepared to provide supporting documentation, if necessary, i.e.  charge off, collections, etc.
• Prepare up-to-date financials: have your business taxes and bank statements accessible as it may be required depending on the loan you are applying for.
• Documentation: Gather all necessary documentation, business licenses, and legal documents to streamline the application process.
• Only borrow what you need and can afford to repay: Avoid taking on too much debt that could strain your business.”

Thank you, Juan!

Stay tuned for more advice from our very own loan consultants in future newsletters.

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