Marketing Advice By Business Type
Marketing a Stakes Business
You're heavily invested in the success of your stakes business and failure isn't an option. That means you'll also need to invest yourself in the strategies and techniques it takes to effectively market your brand in the marketplace.
A single characteristic divides today's best stakes businesses from the rest of the pack.
Simplistic promotional techniques can't penetrate the clutter of the current marketplace. You'll also need to incorporate creativity, common sense, and flawless execution into your marketing routines.
Competitive Awareness
Competitive awareness is the starting point for creativity in marketing. There's nothing wrong with creativity, but if it precludes your messaging from being represented alongside other stakes businesses, there's a good chance that you're missing something. At a minimum, we recommend seeking a third-party perspective before you adopt any innovations that dramatically alter your marketing model.
Encourage Word of Mouth Referrals
Industry-leading stakes businesses use word of mouth marketing to speak to new customers and roll out new product offerings.
Word-of-mouth is unpredictable, but it's not completely out of your control. A skilled marketer can use online and offline marketing tactics to boost consumer discussions about your offerings. Mind you, there's a difference between word of mouth marketing and viral marketing -- if word of mouth marketing is a new concept for you, you might want to hire a marketing consultant.
Market Segmentation
Given the current competitive landscape, you can't successfully promote a stakes business to the entire marketplace. Market segmentation has been around for decades and it has enabled many smaller companies to dominate parts of the market, even when they face competition from larger firms.
Consumer and B2B lead list providers specialize in helping businesses segment diverse markets. By sorting and filtering current databases, your list vendor provides lists containing the names and contact information of likely buyers that fall within the parameters of your stakes business market agenda.
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