How to Improve Business Marketing
Marketing a Tourist Homes Business
The value and earning capacity of a tourist homes business largely depends on the quality of its marketing efforts. But great marketing takes a lot more than hanging a shingle and hoping for the best.
For a tourist homes business, the line between success and failure is based on more than the execution of core competencies.
Marketing increases the brand footprint of a tourist homes business using a carefully crafted mix of techniques and tactics.
Marketing Collateral
Brochures, business cards, folders, direct mail pieces, and other types of promotional materials are called marketing collateral. For tourist homes businesses, it's important to make sure every piece of marketing collateral generate reinforces your brand and value proposition. To squeeze the most impact from your collateral, it needs to be targeted toward its recipients. Delivered to the wrong person, a valuable piece of collateral will collect dust. For direct mail campaigns, premium mailing lists from established vendors can protect the value of your investment. The point is that if you go cheap on the backend, all of the money you invest in your tourist homes business's brochures, direct mail letters and other content has no value.
Loss Leaders
The majority of tourist homes businesses understand that more customers will walk through the door if a few products are priced at less than full retail value. Moreover, a loss leader marketing strategy can compensate for dead periods when customers tend to making purchases. The key is to know your profit margins and use loss leader pricing to undercut the competition in targeted product categories. For tourist homes 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.
Industry Resources
Lone rangers don't survive long in a tourist homes business. An awareness of industry resources can mitigate the isolation of ownership and result in a more stable (and more productive) leadership experience. Even though trade journals have value, we've found that the best insights are often gained through face-to-face contact with industry insiders.
Share this article
Additional Resources for Entrepreneurs