Niche Marketing Tactics
Marketing a Used Formal Wear Retail Business
At Gaebler, we've seen what great marketing can do for a small business. But if you own a used formal wear retail business, exceptional marketing may well be the determining factor in your long-term survival and success.
It's difficult to pinpoint a single marketing strategy that is capable of turning around a struggling business. However, great marketing strategies share a common characteristic.
These days, most businesses are counting on the fact that their marketing plans will push them ahead of their competitors and deliver the best possible market share. With marketing pressure at an all-time high, your business needs to incorporate tactics designed to position a used formal wear retail business at the top of the heap.
Market Segmentation
In today's environment, it's impossible to market a used formal wear retail business to the entire marketplace. Although segmentation can be based on a variety of criteria, it's most commonly used to identify geographic or demographic groups within the marketplace.
Filtered mailing lists facilitate market segmentation by focusing your resources on customers within your segment. The best list providers are equipped to accommodate various segments for contained within your used formal wear retail business marketing strategy.
Expand Your Advertising Options
The number of advertising options to choose from can be overwhelming. Traditional advertising mediums like print ads, billboards, TV & radio commercials, are still popular in many industries and business sectors. When it comes to used formal wear retail businesses, it is mission critical to identify the advertising vehicles that are most likely to meet the specific marketing goals your business is facing right now. These days, used formal wear retail businesses are leveraging digital assets to communicate brand messages through powerful online channels, maximizing ROI and gaining a more direct pipeline to their customers.
Loss Leaders
The majority of used formal wear retail 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 the majority of used formal wear retail 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.
Share this article
Additional Resources for Entrepreneurs