Niche Marketing Plans
Marketing a Costume Jewelry Store
It's becoming more and more difficult for costume jewelry retailers to rise above the clamor of the marketplace. Innovative marketing strategies may be your best bet for out-promoting -- and outperforming -- the competition.
The struggle to find the right marketing mix is never-ending in a profit-oriented small business. However, great marketing strategies share a common characteristic.
So what separates the best costume jewelry retailers from other businesses in the industry? Surprisingly, the ability to create clear brand messages often outweighs product quality and other considerations.
Consider New Advertising Channels
Take a look around the industry. Chances are, you'll see companies using a vast array of advertising vehicles to communicate brand messages. But for costume jewelry retailers, dwelling in the past isn't an option. It's time to get onboard with the marketing trends that are delivering results throughout the industry. Over the past several years, costume jewelry retailers get solid marketing results from online channels capable of streaming high value content to a large, yet targeted customer base.
Price Matching
In a difficult economy, consumers expect businesses to engage in a certain amount of price matching. The principle is simple: Since pricing is a primary factor in product selection, your business agrees to match advertised competitor pricing. Without price matching, if they can locate lower pricing from a competing costume jewelry retailer, customers will transfer loyalty to the competition - and take their friends with them. Today's consumers are educated and informed. They use social media and other tools to identify the best pricing, making it imperative for small business to consider the value of a well-publicized price matching strategy.
Cost Tracking
Are you struggling to contain costs? That's familiar theme among entrepreneurs who lead a costume jewelry retailer. You can't afford to waste money on inferior marketing resources. Since every dollar counts, it pays to buy mailing lists from trusted vendors. Good mailing lists are money in the bank; they deliver leads, revenue and most importantly, new customers.
But mailing lists aren't the only way you can reduce costs. Most accounting software solutions have features that allow you to track costs in multiple expense categories and receive alerts when expenses suddenly swing outside of normal parameters.
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