Using Social Media and other Cost-Cutting Tricks for More Business Savings

Today, online marketing is one of the fastest growing modes of entrepreneurship. The internet and social media particularly can be use to transform your business and converting your promotion expenses into big savings. Learn and understand the following and do it into your own business.

1. Hire virtual assistance. "Get your business automated; the lesser employees you have, the better," "Employing people who are good at multitasking can save you tons of money."
2. Hire the best and pay them generously. A friend had related a years ago said that their company "was saving millions in taxes every year because they hired a great accountant. This accountant knows the ins and outs of corporate tax legalities. No wonder they're paying her generously.
3. Make friends with experts and ask their advice for free. "I made some quality  friends online and offline-event organizers, accountants, lawyers, graphic designer, and others. On certain occasions, i ask their opinions through calls, text messages, or e-mail. Believe me, I got the answers from them for free. In return, I do the same thing for them."
4. Use social media to advertise online. With people starting to spend more time on the internet, many major brands are shifting their marketing campaigns online through Facebook, Twitter, and YouTube. "If you can do it right, you're going to save millions in advertising costs."
5. Get a free autoresponder. Go to listwire.com and register for free. "It's an online application that you can use for free to communicate with your current clients and your prospects. With just one click, you can send your e-mail instantly through it's broadcasting feature."
6. Employ interns or OJTs (on the job trainees) in your business. Acquire their free service and teach them how to do business in return. Take advantage on their free hours of training.
7. Do collaborative marketing. Partner with people who have businesses that compliment yours. For instance, if have 500 followers online and you offer a joint venture with another expert in your same field who has 1,000 followers, it adds to both your total followers. If you find 10 experts like that, "imagine the huge list you're going to have."
8. Apply guerilla marketing. You can "save big" on marketing cost "without using tri-media (print, radio, and TV)" by finding creative ways to get word out about your business.

Source: Ian Baillo, interviewed by Entrepreneur Magazine