Although it may be a dream to build your small business restaurant through simple word-of-mouth, no matter how amazing your menu offerings and service might be, most restaurants recognize marketing as the engine that powers the business. However, some small business owners might still struggle to finance promotion. Let's discuss how to approach your marketing framework—and more importantly, tips on how you can afford to execute on these strategies.

Remember That “Free” Isn’t Always Easy or Effective

Although you might be tempted to improvise with low- or no-cost marketing activities, such as creating content for a blog or posting on social media, these often require an investment of time—which is often in short supply for restaurant owners.

In addition, you might eventually realize that these tactics, while they appear “affordable,” aren’t necessarily obtaining the critical results that bring most customers to the table. 

For example, while social media marketing could be a key part of your restaurant marketing strategy, it’s typically more effective when organic posts are supported by “sponsored” posts that you pay for to appear in the feeds of your ideal customer. Eventually, you may be able to dial back your paid content once you have amassed a sizable audience but spending money upfront may help jumpstart your efforts.

Think Outside the Box When You Build Your Marketing Budget

Often restaurant operators start the budgeting process by deciding how much money they have available for marketing and then selecting strategies that align with that amount. However, being constrained solely by budget could mean you’re focusing an activities that ultimately aren’t the most effective for what you want to accomplish.

Therefore, instead of deciding on a dollar figure first, you might want to consider “reverse engineering,” where you identify your ideal marketing strategies and associated costs, then use that number as the basis for your marketing budget.

Determine Available Financing Options

Once you’ve decided which strategies might best accomplish your goals, you can explore appropriate ways to fund your plan. Working with a bank that specializes in small business gives you access to bankers equipped to help you find the loan products tailored to your goals. These might include small business loans, a line of credit, credit cards or other options.

Given the various terms of these products, you may want to use a combination of them to fund diverse activities. For example: 

  • A line of credit offers flexible access to funds when you need them, which could be a good choice to cover seasonal activities, like sponsoring posts about your gorgeous outdoor patio as the weather warms.
  • A small business loan could be used to fund one-time expenses, such as a website or loyalty program redesign, a sponsorship with a local non-profit or even to cover costs related to hiring external marketing support.
  • A business banking credit card—especially when it’s one that earns rewards such as cash back—is handy for prepaying vendors before an event or for those last-minute printing needs.

Your banker can talk you through the features of each product to help you make the decision that’s right for you.

Approaching Marketing as an Investment, Rather Than a Cost

A well-planned marketing strategy may help you attract new customers, strengthen relationships with existing ones and build brand awareness and loyalty, all goals that help restaurant owners compete in a crowded market.

As you aim to boost revenue, savvy restaurant owners might consider viewing these capital expenditures as a long-term investment in growth. Exploring financing options could be one road that allows you to afford to execute on the strategies that will level up your marketing.

Would you like to talk to a small business banker? Contact PNC today.