Marketing Tactics for Niche Markets
Marketing a Lighting Plants Business
The task of promoting a lighting plants business has to receive the highest priority in your organization. But what marketing techniques and strategies are successful in the current economy?
If you're hoping to leverage marketing to give your lighting plants business a competitive advantage you're not alone.
In some businesses, marketing takes a back seat to sales and operations. That's a mistake because without marketing, your brand messages aren't being heard. On the upside, great marketing is a real possibility for a lighting plants business willing to adapt its strategy to the demands of the marketplace.
Industry Resources
Lone rangers don't survive long in a lighting plants business. Most leaders are oblivious to the fact that the marketplace shows no favoritism - for every marketing challenge your business faces, there are hundreds of other businesses and leaders struggling to solve the same problem. The best resources are usually the ones that leverage industry-specific experience and the input of proven veterans.
Loss Leaders
The majority of lighting plants businesses understand that more customers will walk through the door if a few products are priced at less than full retail value. When applied skillfully, a loss leader marketing strategy can lead to overall gains in revenue. But to be effective, loss leader marketing requires planning, especially in product selection and price points. For the majority of lighting plants businesses, the real benefits of loss leaders emerge through the careful marketing of other products, usually offered at a much higher margin. Whenever possible, piggyback a loss leader approach with the purchase of bulk merchandise that can be bought at a discount.
Improving Customer Loyalty
You've heard that it's less expensive to retain a current customer than it is to acquire a new one, right? For lighting plants businesses, sorted and updated mailing lists obtained from top-tier providers are effective tools for customer acquisition. However, customer acquisition will only get you so far. To achieve revenue growth, you'll need to combine customer acquisition channels with strategies and mechanisms designed to transform new customers into followers and hopefully, brand advocates.
Share this article
Additional Resources for Entrepreneurs