Berny, it is tricky starting up without much money, and I went through the same thing.
My profession is Marketing so I'm lucky that I already had that part under control.
The place to put funds first is in to your product. Initially, that means product development and testing. You are already doing this with the market stall, but testing a product at a market stall will only get you feedback from customers that go to a market. Is this your intended target market? No. So focus on the market you want to sell to.
Before you think about marketing and advertising, be sure the product fits your target markets (there can be multiple) and is ready.
If you want to sell your product in shops then your target market are people who buy your type of products in shops. How to test the market?
There are a couple of ways;
1. Make a list of 20 shops, the type you want to sell your product in, and call each one offering your product on a 'no sale return' basis. The shop doesn't pay for them, it only takes a percentage of the sale (the higher the more attractive the offer), but if no sale then you take the product back. This means there is no risk for the shop and a reward if they sell.
If a shop refuses to sell the item when they see it, or no sales are made across 5 or 6 shops, then you have some real life evidence indicating that the products may not be right for that market. Ask the shops their opinion of them.
Most important though, is to ask your target market. If the shop will let you, you can talk to a few customers about your product, but if not, you can talk to people who come out of one of your target shops.
This has to be done professionally and with care and consideration, but you get the feedback you need, and possibly a few sales too and even a shop to sell through.
2. If you can't get your product in to a shop on a no sale return basis then you could just ask the shop owner/employees what they think of your product and ask customers who leave the shop what they think.
Both of these options are very similar as it is all about asking your customers what they think. Would they buy your product at £xxx?
There is another way but that takes a bit more prep, although it does have the ability to get a higher response in a much quicker period (and no hanging around shops!)
A questionnaire can be made with a few simple questions and sent to your target market.
(If you want more on this you can message me direct)
Once you have a product you know your target market wants you may not need to do any marketing as the shops may be the only route to market you need. This would be nice!
In the likely event you do need to market your product then the 3 steps below is a guide to marketing on a very tight budget. Part 1 does duplicate some of what I wrote above as your target market is not shop customers.
There are 3 steps in the process of getting more customers, and it is a process just like making a cake.
Step 1 is to define what each of your segments 'look like' - what the demographics of them are.
Understanding that you have multiple 'target markets' is key.
It may be that you can split your target markets, or segments, by using age or income level or geographic factors. Age, Race, Education, Income, Ethnicity, Geographic location are all factors you can use - you know which ones are relevant and which aren't, so use your knowledge and create at least 3 separate segments. You may have already done this, but it is good to review frequently.
Step 2 is about understanding 'Where' your target market is.
'Where' - physically or electronically - your target markets go when they want to research, look at, try and buy your products.
How do you get this information? Ask them.
A simple questionnaire will cover everything you need to know for his step and the next.
With the knowledge that they give you, you will be able to choose which type of advert, which venue or event and which method of marketing (telemarketing, direct mail, Google ads, leaflet drops) is most applicable and relevant to your target markets.
Right, so now you know Who your target markets are, and you know Where to put them, physically and electronically, so your adverts are effective.
Step 3 is the final part - the Content.
This can be the wording of an advert, the 'Elevator Pitch' you say when you first meet a potential customer or your website content - whatever the medium for selling.
By asking, in the questionnaire, what is important when it comes to buying your products, what they feel once they have bought your product or service (as emotions are the strongest motivator is any sale) and what they perceive the benefits are, you will then be able to use these answers as the content.
This means you have very relevant and compelling reasons why someone would want to buy your product.
Put these three steps together and you know Who and Where your target markets are and What to say to motivate them to buy from you. This includes increasing traffic to your website or to a show.
Unsurprisingly, this takes a little work to do, but just follow the steps and you can have your cake and eat it.
I am happy to help so email me if you want further help with specifics of the questionnaire etc martinATtheseatDOTcoDOTuk (I can't put email addresses or links into posts just yet)
Hope this helps
