There are about 28 million small business owners in the United States, according to the Small Business Administration (SBA), and most of them are looking for cost-effective and creative marketing tactics that will help them stand out from the competition. Guerrilla marketing is a low-cost and innovative form of marketing that’s perfect for small business owners without a big advertising budget—but, you do need some capital to get started. If you want to launch a guerrilla marketing campaign and you’re strapped for cash, consider one of these methods to come up with the funds:
Look at the Pebble watch, OUYA game system or Oculus Rift virtual reality system on Kickstarter. Collectively, these three projects raised more than $20 million, the crowdfunding platform reported. Unless you’ve got a product that’s so earth-shatteringly different, you shouldn’t get your hopes up that much. That doesn’t mean, however, that you can’t raise some serious funds from crowdfunding sites like Kickstarter, Indiegogo, Peerbackers and RocketHub, among others.
Look through past successful campaigns to get an idea of what works, and offer different incentives based on how much people will be spending. Start small—Fundable reports that the average successful crowdfunding campaign is around $7,000. Smaller goals are more attainable.
If you’ve invested in things like stocks, real estate or annuities and those investments have appreciated in value, consider selling them to help fund your marketing campaign.
If you were lucky enough to invest in real estate after the crash, you may want to cash out now. Appreciation is expected to slow down this year and beyond, according to the Zillow Home Price Expectation Survey . Holding on to that real estate may not be as beneficial as having the cash to boost your guerrilla marketing tactics.
If you receive regular payments from a structured settlement or annuity, you may be able to sell your future payments to a company like J.G. Wentworth for a lump sum of cash now. This provides you with money up-front to help fund your marketing effort. Ditto for any stocks you might hold—if they are looking good, sell some now and put the money into your marketing campaign.
Get a Bank Loan
This is probably the least creative or exciting of the options, but if you don’t have any investments to sell or if crowdfunding isn’t your thing, you can go the traditional route and try to get a loan through the bank. If you’re not sure how to get started, the SBA offers a six-step guide that should get you on track. Also, check if your city has an office of economic development. Its staff may be able to help you find other available funding, too.