Business Marketing Advice
Marketing a Retirement Communities and Homes Business
It's becoming more and more difficult for retirement communities and homes businesses to rise above the clamor of the marketplace. Innovative marketing strategies may be your best bet for out-promoting -- and outperforming -- the competition.
Struggling to find the right combination of marketing strategies and tactics for your retirement communities and homes business? That's becoming a common theme these days, especially in this market sector.
The marketplace is constantly shifting to accommodate consumer demand and that means businesses need to adapt their marketing requirements accordingly. Core marketing concepts offer touch points to help small business owners navigate uncertain markets.
Loss Leaders
The majority of retirement communities and homes 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 retirement communities and homes businesses, this approach is most advantageous when it is coupled with a promotion for complementary products or services that are offered at full pricing. Whenever possible, piggyback a loss leader approach with the purchase of bulk merchandise that can be bought at a discount.
Industry Resources
Lone rangers don't survive long in a retirement communities and homes business. Although there is a tendency to believe that the challenges you face are unique to your business, your competitors face many of the same marketing hurdles and obstacles. To overcome those obstacles, you'll need to tap into industry resources. The best resources are usually the ones that leverage industry-specific experience and the input of proven veterans.
Marketing Ethics
Ethically challenged marketers are a dime a dozen in today's economy. Industry-leading retirement communities and homes businesses subscribe to a strict ethical marketing code, even when competitors intentionally mislead customers with exaggerated claims and falsehoods. When it comes to direct mail, it's important to know the source of your contacts. To maintain compliance with ethical standards, we recommend outsourcing list generation to reputable providers.
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