Capitalizing on Niche Markets
Selling to Party Lighting Businesses
Without a doubt, party lighting businesses are attractive sales targets that can fuel revenue and profit growth. If your company has a history of sitting on the sidelines, maybe it's time to start selling to party lighting businesses.
Most party lighting businesses have experienced slow, but steady growth.
The majority of party lighting businesses expect stellar service from the companies they do business with. But service alone won't close the deal. For B2B companies that sell to party lighting businesses, the consistent application of sound business principles is just as important as your relationships with your customers.
Marketing, Promotions & PR
Young B2B companies are often tempted to buy their way into the market. Rather than taking the time to develop relationships with party lighting business owners, these companies unleash an avalanche of high-priced marketing content in hopes of scoring fast conversions from buyers.
Marketing is useful and necessary. But new businesses should funnel their resources toward initiatives that support their value proposition. Although lead lists obtained from third-party vendors like Experian can improve the flow of prospects to your team, the effectiveness of your marketing efforts is limited to your team's ability to connect marketing, promotional and PR messaging with your company's unique product traits.
Sales Management Tips
Sales managers can make a noticeable difference in both ROI and total sales revenue.
In this industry, sales reps tend to be highly motivated performers who are accustomed to working under tight deadlines. However, sales managers need to be careful to strike a balance between encouraging individual performance and maintaining a team atmosphere.
Don't neglect the fact that party lighting business owners value teamwork and may not respond to sales reps who seem overly disconnected from their sales unit.
Niche Selling
New businesses that target the entire marketplace face a long, uphill battle. A better approach is to tailor your business model to an underserved niche.
In the party lighting business industry, niches can be based on location, business size or sub-specialties within the industry. For niche sellers, market research is a non-negotiable. Don't assume that there will be demand for a niche product line unless your assumptions are rooted in solid facts.
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