We Need Better Marketing
Marketing an Audio and Video Store
Looking for innovative ways to market an audio and video store? Although you there are no magic bullets that will enable you to dominate the industry, there are several things you can do to improve visibility and market presence.
Still looking for a way to effectively market your audio and video store? Although there is no single way that's right to market in this industry, there are a lot of wrong ways.
Marketing increases the brand footprint of a audio and video store using a carefully crafted mix of techniques and tactics.
Product Knowledge
There is no substitute for being able to speak convincingly about your products in an audio and video store. Small product details translate into key value propositions which are critical for distinguishing a audio and video store in the marketplace. If you can't articulate your products' unique characteristics, your messaging - and revenue stream - will suffer.
Loss Leaders
The majority of audio and video stores 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 audio and video stores, the real benefits of loss leaders emerge through the careful marketing of other products, usually offered at a much higher margin. Also, it's important to carefully consider the quantity of discounted products you are willing to offer at the loss leader price since stockpiling or a high volume of loss leader sales can negate the revenue benefits of this strategy.
Improving Customer Loyalty
Savvy entrepreneurs target customer loyalty as a cornerstone of strategic planning. In audio and video stores, premium mailing lists from list providers can help expand your customer base. To encourage customer loyalty, you'll need to tap into deliberate mechanisms that incentivize customers to reward your brand with repeat business. In many cases, online channels can be leveraged to create innovative customer loyalty programs.
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