How Can I Improve Our Marketing
Marketing a Piano Rental and Leasing Business
Looking for innovative ways to market a piano rental and leasing business? Although you there are no magic bullets that will enable you to dominate the industry, there are several things you can do to improve visibility and market presence.
A high-quality marketing plan connects your company to your customers. Without it, you'll quickly find your piano rental and leasing business isolated from your base.
Customer loyalty isn't what it used to be. These days, customers expect value and nothing communicates value more than a solid marketing plan.
Why Branding Matters
Think of branding as a consumer shortcut. Since the average consumer doesn't have time to thoroughly evaluate every product that crosses their path, they make buying decisions based on the brands they trust. Any and every piano rental and leasing business has brand characteristics. Some brands struggle to achieve recognition with consumers while others seem to be quickly embraced by the marketplace. By investing in brand awareness and positioning, you increase the trust factor and make it easier for consumers to choose your business over less-known competitors. In certain situations, branding can be used to establish dominance in specific product categories or service areas.
Loss Leaders
The majority of piano rental and leasing 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. For the majority of piano rental and leasing businesses, this approach is most advantageous when it is coupled with a promotion for complementary products or services that are offered at full pricing. 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.
Niche Marketing
A niche marketing approach is a good fit for small businesses, particularly piano rental and leasing businesses trying to establish a larger footprint in a targeted market segment. Niche marketing isn't new. It's been around for years and has proven to be most effective for firms that understand their key strengths and core audience.
Many companies facilitate niche marketing by providing specialty mailing lists. These lists are targeted and filtered, and deliver greater focus to your company's direct mail campaigns. Specialty mailing lists from top-rate providers take the niche concept a step further by giving you measured insights about consumer behaviors within the niche.
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