Desperation, as they say, is a stinky cologne.

Meaning if you’re desperate, it’s obvious, and it’s off-putting.

In the context of keeping business afloat, desperation can manifest as a lack of confidence and flagging self-assured. All of which is unsurprising if you’re less than flush with cash and not feeling entirely secure about your prospects. And, of course, this is no state to be in if you’re aiming to win new business or courting repeat clients.

You’re also likely to take on projects and work with clients you would typically avoid.

Now, it goes with that saying sparing yourself the misfortune of winding up hard-pressed for cash to keep your business going is a strong argument for ABM — Always Be Marketing.

But this scenario assumes you’re already passed this point.

So, what now? Bills are coming due. And there’s no new work in the pipeline.

Here are five straightforward marketing strategies that, if executed properly, can funnel cash into your increasingly spartan coffers:

1. Spend more money on marketing and promotion

Now, this might sound counterintuitive. You’re running short of funds, so the solution is…spend more money?

If that thought flashes through your head when reading the header above, your reaction is not entirely wrong.

But on the other side of the coin, it takes money to make money. And if you’re at or not actively marketing your business or your marketing is not generating enough response, odds are you’re not putting enough into your marketing efforts. And that includes falling short on capital investments in paid advertising and promotion.

Because a well-placed ad or a savvy promotional campaign can instantly generate new business.

Now, I can already hear the objection: “I literally don’t have the money to advertise.” OK, then — Borrow it. If done properly, you’ll not only make back the money but regenerate your waning revenue and likely pay it forward with future business opportunities.

2. Reach out to current and past clients

What’s your biggest untapped or underused marketing resource?

Your (digital) Rolodex.

There’s always an opportunity to do more business with clients you’re already working with or have previously worked with.

And best of all, you don’t have to sell them. They already know you and your capabilities and the value your services provide.

It’s just a matter of asking these folks about launching new or additional projects.

3. Ask current and past clients for referrals

The next biggest untapped marketing resource after current and past clients are those clients’ contacts.

A satisfied client referring your business to an acquaintance — otherwise known as “word of mouth marketing” — is pure marketing gold. But while many of your clients have friends, family, colleagues, business associates, and the like who could benefit from your services, they don’t necessarily think to refer you.

Meanwhile, if you actively request referrals, that can often be the push that generates a cascade of new leads.

4. Reach out to current and past prospects

At any given time, you likely have a (digital) Rolodex filled with *potential* clients. These could be leads you’re currently courting. They may be referral leads from present clients or other prospects. Or they could be possible clients that, for one reason or another, you never closed.

Whatever the source, hit them up. Press hard on the value the projects they’re considering could bring their business. And follow up consistently (and respectfully).

Remember: Successful sales are closed with an average of 7 touch points — That’s seven unique interactions that yield meaningful communication.

5. Do more to leverage your existing marketing assets

Odds you have marketing assets (website, email list, social media presence, etc…) that you’re not using to their full potential.

Website — Is your website properly search engine optimized (SEO)? Is your site’s user experience “frictionless” at all communication points? Does it adequately demonstrate your service’s core value, highlight the benefits of working with you, and make a strong call to action?

Email List — Do you have an email list? If not, can you gather contacts from current and past clients and prospects and create an email list? If you have an email list, are you using it to consistently connect with prospects and clients, both to stay in touch and to promote your services?

Social Media — Do you have a social media presence? If not, can you establish one or tap someone to help you build a presence? And if you do have a presence on social, are you using it to actively promote your services, working to foster engagement, and build relationships that move prospects further down your sales funnel?

There is NO Silver Bullet

While these strategies can definitely help, there is no guarantee they will yield new business or increase revenue. They are sound strategies that have proven effective for countless businesses. And they’re the best place to start if you’re *desperate* to generate revenue.

But the best hedge against this unenviable position is, as noted above, ABM — Always Be Marketing. If there is any insurance for business stability, developing a well-thought-out marketing strategy, consistently marketing your business, and regularly reviewing and updating your strategy as needed is it!

Need Help Marketing Your Business?

Whether you need to increase revenue ASAP or you’re looking to create a long-term marketing strategy, I can help!

Together, we’ll craft an ABM strategy that will ensure you never find yourself desperately in need of cash.

Sound like a plan? Get in touch to chat: 310.466.7893 | ryan@ryananys.com