How to Improve Business Marketing
Marketing a Tufting Business
Promotional tactics for tufting businesses are exceptionally diverse. But in our experience, there are a handful of tips and strategies that will deliver the best return for your marketing efforts.
For every tufting business success story, there many more tufting businesses struggling to survive.
Strategic marketing tactics can help small tufting businesses remain competitive with much larger businesses. The key is to market smart through the consistent application of fundamental marketing concepts.
Strategic Partnerships
Strategic partnerships offer tufting businesses economies of scale, not to mention a larger promotional footprint. Think about it: even on your best day, your company has the ability to influence a certain percentage of potential customers. But when you partner with a complementary supplier to perform a joint marketing campaign, you multiply your customer base and generate a more powerful market presence.
Loss Leaders
The majority of tufting 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. But to be effective, loss leader marketing requires planning, especially in product selection and price points. For tufting 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.
Measurement & Evaluation
By purchasing high quality mailing lists from reliable providers, tufting businesses can achieve greater returns from their marketing initiatives. However, there are no substitutes for measurement and evaluation mechanisms. A robust measurement and evaluation process should include metrics that can be monitored on a monthly, weekly or even daily basis. Designed to monitor marketing efforts on a campaign-by-campaign basis, these metrics can be used as a baseline for strategic planning. Given the importance of measurement and evaluation, tufting businesses typically expand their knowledge base by hiring professional marketing firms.
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