Marketing Plans for Niche Markets
Marketing a Wigs and Hairpieces Retail Business
You're heavily invested in the success of your wigs and hairpieces retail business and failure isn't an option. That means you'll also need to invest yourself in the strategies and techniques it takes to effectively market your brand in the marketplace.
We see marketing as the great equalizer, a business discipline capable of dramatically increasing a small company's footprint in the marketplace.
Some marketing concepts are just common sense. But to achieve your goals, there are some other things you'll also need to learn about marketing a wigs and hairpieces retail business.
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. The difficulty comes when you are tasked with quantifying market presence and brand influence. To gauge brand reputation and presence, many wigs and hairpieces retail businesses turn to media monitoring. Even more importantly, media monitoring can alert you to negative commentary early, giving you the opportunity to counter negative mentions with more accurate and more positive messaging.
Improve Your Business Sign
A great sign is a 24/7 marketing tool for your company. Despite the fact that wigs and hairpieces retail businesses are very different from each other, signage can be used by any wigs and hairpieces retail business to communicate the company's value to their customers. Visibility, branding elements and other considerations are all factors in the design and size of your operation's business signage.
Given the fact that signage in wigs and hairpieces retail businesses has unique characteristics, avoid glossing it over as an afterthought. Talk with somebody who knows a lot about business signage advice and get their input before you create new business signs.
Bundling
Messaging matters - but only to the degree that it communicates value to cost-conscious consumers. Businesses that bundle products tap into the market's psyche by creating the perception (real or imagined) of cost-savings. Nearly any type of business can tap into the benefits of bundling products or services, so it's easy to see how wigs and hairpieces retail businesses have the ability to bundle multiple products and services into a single offering that customers find appealing. Often, bundling is used to offload excess inventory or to pair a low profit product with one that has a higher markup.
Share this article
Additional Resources for Entrepreneurs