Marketing Advice By Business Type
Marketing a Straw Goods Business
Looking for innovative ways to market a straw goods 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.
Multiple marketing factors affect bottom line profitability. However, great marketing strategies share a common characteristic.
Today's small businesses operate in a dynamic sales and marketing environment. The consistent application of solid marketing principles is one of the few business requirements that has stayed the same.
Improving Customer Loyalty
Customer loyalty provides the backbone for business growth. In growth-minded straw goods businesses, customer acquisition can be achieved by tapping into the resources of third-party mailing list providers. 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.
Loss Leaders
Like many businesses, straw goods 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 straw goods businesses, the real benefits of loss leaders emerge through the careful marketing of other products, usually offered at a much higher margin. Whenever possible, piggyback a loss leader approach with the purchase of bulk merchandise that can be bought at a discount.
Marketing Consultants
In a tight economy, there are many places to cut corners in your business - but marketing shouldn't be one of them. The amount you pay a marketing consultant is an investment in your company's revenue stream. The best consultants possess a range of skills, including the ability to accurately communicate your straw goods business' most important brand characteristics. More importantly, it will provide the expertise you need to identify the most productive marketing channels and raise your brand profile within the industry. As we continue to experience changes in the straw goods business arena, exposing your strategy to the influence of capable marketing professional should be a top priority.
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