How to Reach Your Target Market
Marketing an Elderly and Handicapped Apartments Business
A profitable elderly and handicapped apartments business is about more than supply and demand. It's about designing ways to entice new customers to engage with your products and to encourage existing customers to increase the frequency of their purchases.
A single characteristic divides today's best elderly and handicapped apartments businesses from the ones that are struggling to keep the doors open.
Staying on track requires attention to detail and a commitment to foundational marketing principles.
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. Most elderly and handicapped apartments businesses have the ability to bundle multiple products and services into a single offering that customers find appealing. Will the profit margins be the same as they would be if you sold the bundled products separately? Probably not. But you'll make up for it by achieving higher sales volumes and net profits.
Improving Customer Loyalty
You've heard that it's less expensive to retain a current customer than it is to acquire a new one, right? For elderly and handicapped apartments businesses, sorted and updated mailing lists obtained from top-tier providers are effective tools for customer acquisition. But as your customer base grows, you'll also need to develop programs that reward customer loyalty. Get it right and each new customer will represent a step forward in your company's growth; blow it and you'll end up struggling to acquire new customers just to maintain a breakeven revenue position.
Do We Really Need A Logo?
Having a strong logo for an elderly and handicapped apartments business is a big deal. In tight markets, logos differentiate one company from the next. More importantly, a good logo can differentiate your value proposition from your competitors. Logos aren't something that can be changed overnight so it's important to put some thought into logo design. With a lot riding on a logo, it's worth the investment to hire a professional marketing and design firm for your logo needs.
Share this article
Additional Resources for Entrepreneurs