The economy is on the rise and Canadian small businesses are becoming increasingly optimistic of conditions for acquiring credit, hiring and generating sales.
However, as the market begins to improve, firms will need to boost their marketing budgets - a trend that has already been reflected in a recent survey by the online business community Manta, which found 47 percent of businesses plan to focus their spending on marketing this year.
While new marketing innovations such as social media, QR codes and mobile advertising are some of the hottest developments, traditional strategies are known to be just as effective. Take loyalty or rewards programs, for example.
"It's important to remind your customers to refer business to you - and to reward them when they do," writes Gwen Moran in Entrepreneur magazine. "You might offer a small gift or discount for referrals or repeat business, (John Paul Engel, founder of Knowledge Capital Consulting) says."
"At the very least, be sure to thank customers for referring business and for coming back," she adds.
Surveys are also effective means, not so much for promoting your brand, but for evaluating your market and finding the right demographics. Consider including a questionnaire with a purchase or offer a deal in exchange for completing an online survey.
