New businesses can take the cheap – err, cheaper – route when it comes to marketing a start up company. Yes, there are pricier ways to get customers attention, but sometimes the cheaper ways can be your best bet. The issue for many start up merchants is that even cheap options can be costly, especially when you are short on cash.
One of the best options on the cheap is the use of social media. Facebook, Instagram, Twitter, and Snapchat are great avenues to get new customers, and they are mostly free. With Facebook, you can pay to have your ads placed on the side of the page, and there is a “per click” charge, which the merchant can set a limit to. This can become costly, especially since Facebook lets you find your demographic, and Facebook has over one billion accounts. A limited demographic search can cause your limit to disappear in just a few minutes, so be sure to click every option to help limit the search.
Another option is print and online local newspaper ads. This can be cheap, depending upon the area and the paper edition that it is published in. Weekend and holiday papers typically have higher fees than weekday papers. Local radio advertising can also work, and prices also vary depending upon the area. A self-voiced ad is cheaper to produce, but it is possible to get funding to have a professional do the work for you.
There are merchant loans for start ups available. While some cater to those with great credit, others, like the one offered by FAM, are easily afforded to those with bad credit. Merchant loans differ from a traditional loan because they are easily paid back. With a traditional loan, you have to pay back the loan almost immediately. Even if your business closes, you are still responsible for the loan repayment. With a merchant loan, payments are taken from your merchant account on the days when your business is open, based on an agreed upon percentage. Merchant loans accomplish the same thing as a traditional loan, but with a better system in place for repayment.