How Can I Improve Our Marketing
Marketing a Petroleum Oils Retail Business
Small and medium size petroleum oils retail businesses can compete and even outperform larger competitors. All it takes is the right marketing plan.
The marketing model for a petroleum oils retail business has historically adapted to changes in consumer buying patterns and the market itself.
However, foundational marketing principles may not be enough to capture the attention of buyers in today's market. Effective marketing now means translating market learnings into techniques and tactics that are relevant to your business.
Bundling
Today's marketplace is all about perceived value. The more you can do to communicate value to consumers, the more likely it is that they will respond positively to your messaging. Businesses that bundle products tap into the market's psyche by creating the perception (real or imagined) of cost-savings. Most petroleum oils retail businesses have the ability to bundle multiple products and services into a single offering that customers find appealing. Often, bundling is used to offload excess inventory or to pair a low profit product with one that has a higher markup.
Improving Customer Loyalty
Customer loyalty provides the backbone for business growth. In growth-minded petroleum oils retail businesses, sorted and updated mailing lists obtained from top-tier providers are effective tools for customer acquisition. To encourage customer loyalty, you'll need to tap into deliberate mechanisms that incentivize customers to reward your brand with repeat business. In many cases, online channels can be leveraged to create innovative customer loyalty programs.
When It's Time to Rebrand
Rebranding can be the cornerstone of a successful marketing strategy. But unfortunately, many business owners choose to rebrand simply because they aren't sure what else to do. Rebranding is an intentional marketing technique designed to deliver long term results. For a petroleum oils retail business, brands are tied to specific stages in the life of a business. If your company is expanding, you will inevitably outgrow your brand and it will be time to prepare for a comprehensive rebranding effort. If rebranding is unavoidable, it's important to update the brand while maintaining the elements that make it recognizable to consumers.
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