Making the most of your business marketing budget

Small enterprise owners have an average business marketing budget of barely $2,000, according to the 6th Annual Staples National Small Business Survey.

Many understandably feel their business advertising options are limited by such a short financial leash. This is especially troubling given the fact that the economy is slowly beginning to recover, and during times like these small businesses should be focused on bringing in new customers.

However, many business promotion avenues are still open to entrepreneurs looking to launch marketing campaigns on a shoestring, according to Charles Gaudet, marketing expert and founder of PredictableProfits.com.

"Some of the best marketing available doesn't cost a dime," Gaudet said in a statement. "But, shockingly, most entrepreneurs don't take enough advantage of the low-cost opportunities that are available to them."

For instance, entrepreneurs can craft well-written, comprehensive press releases about topics of interest and then submit them to the media. This provides the opportunity to send out their company's name, brand and message to an audience that's significantly larger than their paid marketing budget would allow them to reach.

Becoming a contributing author to a blog, magazine, newspaper or other type of publication is another way to increase awareness of your company while simultaneously positioning yourself as an industry expert. This is a great way to establish both your personal reputation and that of your company.

If you're more of a people person than a writer, use those skills to reach out to old customers who haven't dropped by in a while. Usually, Gaudet notes, customers don't stop doing business with a company because they are dissatisfied with its goods or services. Rather, something he terms "an interruption in their buying behavior" leads to them forgetting or procrastinating about returning to the business. Buying behavior interruptions can be mitigated by offering a reactivation plan, perhaps in conjunction with a discount or other special offer.