How Can I Improve Our Marketing
Marketing a Patent and Trademark Attorneys Business
At Gaebler, we've seen what great marketing can do for a small business. But if you own a patent and trademark attorneys business, exceptional marketing may well be the determining factor in your long-term survival and success.
As a business owner, it's imperative to understand that your financial metrics are inextricably linked to your marketing capacity.
Concerned about customer loyalty? Producing high quality products isn't enough to lure customers back to your business. Cash is king in today's marketplace, so your marketing plan needs to focus on value messages.
Loss Leaders
The majority of patent and trademark attorneys businesses frequently sell specific products at ridiculously low margins to boost traffic and new customer acquisition. Moreover, a loss leader marketing strategy can compensate for dead periods when customers tend to making purchases. A classic mistake of loss leader marketing is to create pricing without researching the competition. In a worse case scenario, you could be counting on pricing that is higher than your competitors. When used in patent and trademark attorneys 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.
Marketing Expertise
A lack of personal marketing experience is not an excuse for moving forward without the support of a promotional knowledge base. Entrepreneurs and leaders of patent and trademark attorneys businesses need to make every dollar count, especially when it comes to their marketing budgets. When in doubt, tap into either an internal or external knowledge base to design your company's marketing strategy.
Multichannel Marketing Strategies
Are you up to speed on the multichannel marketing concept?. Today's consumers engage with brands in diverse ways. That means brands need to demonstrate similar diversity in the channels they employ to connect with customers.
Unless you adopt a multichannel strategy, your patent and trademark attorneys business will struggle to maintain a noticeable presence in the marketplace. In practice, multichannel means embracing a mixture of online and offline message pipelines, based on the places your customers go for information. If direct mail is an area that needs to be added to your mix, professional mailing lists from third-party providers are a no-brainer. We recommend contacting a few select list vendors to learn how you can intelligently incorporate mailing lists into a more diverse marketing strategy.
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