Marketing Plans for Niche Markets
Marketing a Wholesale Art Business
The value and earning capacity of a wholesale art 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.
We recognize that the best wholesale art business entrepreneurs tend to possess solid marketing skills. But what does it take to become a skilled marketer in this market sector?
Ready for some marketing advice that will help you grow your business? The most successful wholesale art businesses achieve market dominance through the careful execution of deliberate strategies. The inclusion of innovative tactics and techniques is important, but the consistent application of sound marketing principles may be the most important factor in raising your brand's visibility with buyers.
Price Matching
In a difficult economy, consumers expect businesses to engage in a certain amount of price matching. If your company's prices can be beat by someone else's wholesale art business, potential clients will abandon your brand in droves. Today's consumers are educated and informed. They use social media and other tools to identify the best pricing, making it imperative for small business to consider the value of a well-publicized price matching strategy.
Staffing Expertise
Assigning responsibility for the execution of a marketing strategy can be more difficult than creating it. For many business owners, in-house staffing is attractive because it can (theoretically) be performed by current employees and can give the owner more control over the process. As a way to improve performance and time management, owners of wholesale art businesses enlist the assistance of external marketing professionals. In addition to delivering a better overall outcome, marketing firms bring an objective perspective to your strategy and key messaging.
Media Monitoring
Some marketing initiatives lend themselves to simple measurement while others are more challenging. Direct mail can be evaluated by tallying the cost of inputs (e.g. a premium mailing list, printing, postage, etc.) and measuring the number of customer responses you receive from the campaign. However, measuring the amount of influence your brand has in the marketplace can be trickier. Fortunately, media monitoring has the ability to give your wholesale art business a sense of market presence and other variables that are difficult to quantify. Although media monitoring is not the only tool for measuring intangible brand qualities, it has the benefit of highlighting negative PR, giving your wholesale art business the ability to control bad buzz when it appears in the marketplace.
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