Marketing Tactics for Niche Markets
Marketing a Lottery Tickets Business
Marketing plays a central role in any company. But when it comes to a lottery tickets business, your ability to market your brand can be the deciding factor between barely making it and achieving stellar industry success.
For every lottery tickets business winner, there many more lottery tickets businesses struggling to survive.
But with the right combination of resources, techniques, and strategies, any lottery tickets business can achieve greater marketing dominance through strategic marketing and robust value messaging
Loss Leaders
The majority of lottery tickets businesses are willing to sustain a slight loss or breakeven position on certain products and service offerings as a way to attract customers. Moreover, a loss leader marketing strategy can compensate for dead periods when customers tend to making purchases. But to be effective, loss leader marketing requires planning, especially in product selection and price points. When used in lottery tickets 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.
Product Knowledge
There is no substitute for being able to speak convincingly about your products in a lottery tickets business. Seemingly insignificant product specs can be leveraged to communicate value and depth, separating your lottery tickets business in the competitive arena. If you can't articulate your products' unique characteristics, your messaging - and revenue stream - will suffer.
Managing Negative Publicity
Not sure how to handle negative PR? You're not alone. It's a probably faced by many lottery tickets businesses. Bad situation inevitably get worse when companies haven't prepared for the possibility of a negative news cycle. The creation of a quality, crisis PR plan and the adequate preparation of key stakeholders is a requirement for any lottery tickets business interested in controlling negative messages. Mailing list providers can also provide quick access to accurate mailing lists, an important consideration if your crisis response plan contains a direct mail component.
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