How Can I Improve Our Marketing
Marketing a Parks and Recreation Equipment Business
Marketing plays a central role in any company. But when it comes to a parks and recreation equipment business, your ability to market your brand can be the deciding factor between barely making it and achieving stellar industry success.
Think tired marketing collateral is all you need to succeed in today's marketplace? Think again!
Top performers habitually integrate sound marketing concepts with market demands.
Hiring A Marketing Firm
Eventually nearly all parks and recreation equipment business operations turn to marketing firms for guidance. Unless you have a marketing background, you won't be able to touch the ROI you'll receive from a professional firm. Cost is a consideration, but if you're thinking about hiring a marketing firm for your parks and recreation equipment business, experience should trump other considerations. Avoid young marketing firms staffed exclusively with inexperienced hot shots. Novice marketers bring a lot of passion to the table, but they also tend to embrace high-risk marketing strategies that lack the payoff you'll get from an established firm.
Loss Leaders
The majority of parks and recreation equipment businesses are willing to sustain a slight loss or breakeven position on certain products and service offerings as a way to attract customers. Although you may lose money on one product, you can make up for it buy selling a higher volume of other products. But to be effective, loss leader marketing requires planning, especially in product selection and price points. For the majority of parks and recreation equipment businesses, the real benefits of loss leaders emerge through the careful marketing of other products, usually offered at a much higher margin. Also, it's important to carefully consider the quantity of discounted products you are willing to offer at the loss leader price since stockpiling or a high volume of loss leader sales can negate the revenue benefits of this strategy.
Measurement & Evaluation
By purchasing high quality mailing lists from reliable providers, parks and recreation equipment businesses can automatically improve marketing ROI. However, there are no substitutes for measurement and evaluation mechanisms. A robust measurement and evaluation process should include metrics that can be monitored on a monthly, weekly or even daily basis. Designed to monitor marketing efforts on a campaign-by-campaign basis, these metrics can be used as a baseline for strategic planning. Simple quantitative tools are a good start. However, parks and recreation equipment businesses often choose to consult with professional marketers for assessment tools and strategic insights.
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