"Those friends thou hast, and their adoption tried, Grapple them to thy soul with hoops of steel.”
                                                                                  –Shakespeare’s Hamlet                                            

If you are like most small business entrepreneurs, you are constantly operating on a tight budget. The next few Tracker Tips e-newsletters offer ideas on a variety of different topics that can promote saving money. Using some or all of these ideas may save your company, and ultimately yourself, thousands of dollars. Though some tips will save you more money than others, the end-result of your overall thrift strategies could add up to a bundle.

After reading about these ideas, you may think that your particular business, for example, healthcare industry (medicine, dentistry, chiropractic, physical therapy, veterinary, etc.), real estate brokerage, advertising and marketing, vacation industry, repair shop, restaurant, etc. does not fit with these ideas. Do not take these ideas lightly. Remember, you are in business, for a number of reasons, with money being one of the primary drivers. And, good business practice is good business practice, no matter what your enterprise.

Topic I - Economizing on Promotions

1. Piggyback your advertising. Including material that promotes your business in other mailings, such as in invoices, saves postage and other costs (envelopes, labor, etc.). Likewise, make the most of your point-of-purchase opportunities by tucking coupons, newsletters, testimonials, or other promotional fliers in the bag with customers' purchases or their walkout packets.

2. Be a good neighbor. Split advertising and promotion costs with neighboring businesses. Jointly promote a sidewalk sale or open house in your building, or take your marketing alliance further by sharing mailing lists, distribution channels, and suppliers with businesses that sell complementary goods or services. Talk to your suppliers and vendors; ask them to include your promotional materials in their own mailing packets and with their sales force. Remember to do the same for them.

3. Ask for help. Ask your friends, business associates, and vendors for help. The kind of support you would most like to get from your contacts is referrals of the names of specific individuals who need your products and services. So go ahead and ask – the worst that can happen is that they say no (no harm, no foul); but then, look at the possibilities if they say yes! Make sure your contacts have an adequate supply of your promotional packets and business cards. Understand that referrals cost you next to nothing. 

4. Got a happy customer? Use testimonials. By telling others what they have gained from using your products or services in presentations (put a mini-video of them on your website or on your reception room video monitor) in the form of informal conversations. In addition, include written testimonials in all of your mailings. Your sources can encourage others to use your products or services. The best advertising you can get is through clients who have experienced your superior product or service and who put their name and reputation on the line by endorsing you. Never stop thanking these sources.

5. Make an appearance. Make a special TV and/or radio appearance. First, try to promote your message as something of unique importance so the station will put you on the air at no charge, in an interview-type, public relations format. If you are really good, they may ask you to appear on a regular basis. Otherwise, consider that local cable TV stations often have very reasonable advertising rates at time slots throughout the day and night. Though you may not necessarily reach prime-time viewers, you will make an impression where it counts, in the comfort of potential customers' homes.

6. Offer expert advice. Teaching a class, speaking at a community meeting (such as at your church or parent-teacher meeting) or writing an article for a local paper (especially a community publication) not only makes you look like an expert but reaps low-cost attention for your business.

What’s Next

The next few issues of Tracker Tips will discuss other topics that can promote more money-saving ideas. For a sample of how Tracker’s unique operational management and forecasting tools can help your business prepare for a successful financial future, call us at (719) 592-0878 or send an e-mail to This e-mail address is being protected from spam bots, you need JavaScript enabled to view it . Feel free to forward this Tracker Tips e-newsletter to friends, family, or business acquaintances. We welcome anyone to our mailing list, so invite colleagues to send their e-mail addresses to This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .

Contributions and ideas come from a number of authors including J. Donald Weinrauch, co-author of The Frugal Marketer, Jacquelyn Lynn, Ivan R. Misner, Chris Penttila, Guen Sublette, and Laura Tiffany.

The opinions expressed in Tracker Tips E-Newsletters are those of the author. All of the information contained herein is intended to be general in nature without regard to specific types of businesses, geographical areas, or other circumstances, and should only be considered after consulting an appropriate expert, such as an attorney or accountant.