No business has an unlimited budget. By the time everyday operational costs are covered, there might not seem like there’s much left to invest in building up your business. But marketing to potential clients can be one of the most important ways to ensure your company’s growth. Luckily for companies on a tight budget, it’s possible to bring in new business with limited resources (as long as you have some hustle).
Maintain a Good Website
If you only have enough in your budget for one marketing expense, it should be a website. The internet is the first place everyone searches for information, and business to business transactions are no exception. If you don’t have the know-how to create one yourself, invest in a professional who can do so.
Engage in Social Media
Social media is one of the best ways to reach prospective clients for free. As long as you maintain your online reputation, it is an affordable form of marketing that can position your company as thought leaders. Use your company account to stay connected with current clients, promote a blog, share relevant news and interact with others in the accounts receivable industry.
To get in front of qualified prospects, consider webinars. If you have the budget and staff to host your own, invest in a webinar hosting product. If your time, attention or money are scarce, look into partnering with others. Acting as a guest panelist on a webinar can also raise your company's profile and bring in new leads.
Work with your sales team to get the most out of your marketing efforts. LinkedIn’s paid tools aren’t a huge investment (especially if this helps the sales team find new clients). Becoming active in industry-specific LinkedIn groups can also help you make connections which may later turn into clients.
Use the Strengths of your Staff
When deciding where to focus your efforts, evaluate your team for untapped potential. Do you have a strong writer on your staff? Start a blog. Are you tech savvy? Pour time into your website and social media.
Shine a light on the talents within your own agency and you may find a unique way to increase your profile.
For more ideas on how to market your collection agency, download this guide: Collection Agency Marketing Best Practices.