- Using the Internet or Strayer databases, find three examples of bootstrap marketing strategies. Next, develop a bootstrap marketing idea that will help promote a small business at a minimal expense. Be creative and thorough in developing the idea for this implementation.
- Be sure to respond to at least one of your classmates’ posts.
- Respond to the post below.
- Tina Quinichette
Hello professor and class,Our textbook describes bootstrapping as the “process of finding creative ways to exploit opportunities to launch and grow businesses with the limited resources available for most start-up ventures.” From what I understand, it helps small businesses build their company using just their savings and the revenue from their first customer sales. That means there are no investors to help with the start-up.Find three examples of bootstrap marketing strategies.The three bootstrap marketing strategies I have found are:
- If your business is small and it won’t have to rely on advanced equipment to operate the business, buy used equipment, such as laptops, phones, and office supplies, to save money.
- Work from home or space where you don’t have to pay for rent or a lease. That will keep your business costs down.
- Be your own boss. Hiring employees takes away from your capital. Do the job yourself until you are financially able to hire additional help.
Next, develop a bootstrap marketing idea that will help promote a small business at a minimal expense. Be creative and thorough in developing the idea for this implementation.A small business can take advantage of many low-cost options to promote itself. Social media is one of the most accessible and often free options for companies to market themselves to their target audience. Create a video that would demonstrate what the business offers and post it on your business website or integrate it on Facebook or LinkedIn. Make it visually appealing to stand out from your competition and keep your information updated by showcasing new items or services that your business provides. Track your followers, then offer rewards, discounts, or incentives to your top followers who post more questions about the company, inquire about your products, or place orders with the business.