Smart Marketing Strategies for Niche Markets
Marketing an Outdoor Lighting Business
Marketing plays a central role in any company. But when it comes to an outdoor lighting business, your ability to market your brand can be the deciding factor between barely making it and achieving stellar industry success.
As a business owner, it's imperative to understand that your financial metrics are inextricably linked to your marketing capacity.
In some businesses, marketing takes a back seat to sales and operations. That's a mistake because without marketing, your brand messages aren't being heard. On the upside, great marketing is a real possibility for a outdoor lighting business with a strong value proposition and a desire to achieve a visible market presence.
Staffing Expertise
Right out of the gate, you are going to have to make an informed decision about who will be responsible for marketing your product offerings and your brand. 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 outdoor lighting businesses enlist the assistance of external marketing professionals. Outsourcing is less expensive than maintaining an internal marketing unit and it ensures that your company's marketing plan receives the attention it deserves.
Bundling
Today's marketplace is all about perceived value. The more you can do to communicate value to consumers, the more likely it is that they will respond positively to your messaging. 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 outdoor lighting businesses can leverage bundling to improve sales and attract new customers to the brand. Since the bundling concept is based on discounts, consumers expect to pay less for the bundle than they would if they were to buy the products separately, so you'll need to make sure your bundle offers real value to buyers.
Mailings
It makes sense for outdoor lighting businesses to participate in direct marketing. A coordinated mailing campaign raises your company's profile and draws new customers into the business. Third-party providers have a reputation for generating accurate mailing lists that can be sorted to accommodate niches and subsections of the market. Despite the added upfront expense, premium mailing lists are a smart investment if for no other reason than their ability to generate higher conversion rates.
Share this article
Additional Resources for Entrepreneurs