Promoting any offers you may have on is not going to be cheap. Even the cost of printing promotional literature can be surprisingly high and therefore reducing prices and losing money to lure in new business may well only work if you are willing to spend a great deal more on actually letting people know about the offers you have on.
However, there are ways around this, and not all promotion has to be extremely expensive.
Two of the most cost-effective advertising aids for any business that deals with customers face to face will be A-Boards and advertising banners. Both will offer very low-cost ways to advertise directly to those who most frequently visit the area in which you are based, and furthermore they will be easy to customise completely to help you ensure they are as eye-catching and interesting as possible.
Putting on unique offers and deals are indeed great ways to bring in new custom and to in turn promote future loyalty. However, unless the right people know about these offers, you may well simply find that existing customers who would buy such items anyway just get a slightly better deal.
Of course, cheap banners and A-Board inserts are not the only way to grab the attention of potential new customers, but they will certainly be one of the easiest. With almost any other form of advertising, there will be a huge amount of waste, with the likes of flyers often not even being looked at, and many of them simply going to the wrong people altogether. It will be easy to run out of flyers or for individuals to simply miss your promotional literature altogether, yet by taking the step of making your promotion far larger and far longer lasting, and at the same time cheaper, you will no doubt find that you get all the interest you hoped for, without it breaking the bank.