How to Reach Your Target Market
Marketing an Estate Appraisal and Sales Business
Trying to market an estate appraisal and sales business? It's a crowded marketplace, but with dedication and persistence, great marketing can help your business outperform larger competitors.
The struggle to find the right marketing mix is never-ending in a profit-oriented small business. However, great marketing strategies share a common characteristic.
Common sense and practical decision making are part of the marketing equation. But as an innovative business leader, you need to follow the strategies that other estate appraisal and sales businesses utilize in the marketplace.
Loss Leaders
Like many businesses, estate appraisal and sales businesses frequently sell specific products at ridiculously low margins to boost traffic and new customer acquisition. Although you may lose money on one product, you can make up for it buy selling a higher volume of other products. But to be effective, loss leader marketing requires planning, especially in product selection and price points. When used in estate appraisal and sales 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.
Marketing Ethics
Are ethics important in marketing? You bet! Industry-leading estate appraisal and sales businesses avoid marketing tactics that exploit their customers. If direct mail is part of your marketing mix, you should also make sure your mailing list provider adheres to ethical standards in the collection of contact information. Premier vendors are safe bets since they have established themselves as reputable mailing list providers.
Technological Expertise
The PR and marketing community has embraced technology with open arms, transforming basic marketing concepts into sophisticated, tech-driven systems and solutions. One of the things that needs to be considered by estate appraisal and sales businesses is the need to increasingly incorporate technological marketing solutions into the marketing mix. If possible, business owners should gravitate toward technologies that deliver greater ROI than traditional marketing channels.
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