Industry Specific Marketing Advice
Marketing a Grain Elevators Business
It's becoming more and more difficult for grain elevators businesses to rise above the clamor of the marketplace. Innovative marketing strategies may be your best bet for out-promoting -- and outperforming -- the competition.
For every grain elevators business success story, there many more grain elevators businesses struggling to survive.
Purpose in marketing is the key to success in this space. High-performing grain elevators businesses achieve market dominance through the careful execution of deliberate strategies. The inclusion of innovative tactics and techniques is important, but the consistent application of sound marketing principles may be the most important factor in raising your brand's visibility with buyers.
Product Knowledge
Are you intimately familiar with your brands' product line? You better be if you're marketing a grain elevators business. Seemingly insignificant product specs can be leveraged to communicate value and depth, separating your grain elevators business from the rest of the field. If you can't articulate your products' unique characteristics, your messaging - and revenue stream - will suffer.
Loss Leaders
Like many businesses, grain elevators businesses understand that more customers will walk through the door if a few products are priced at less than full retail value. 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. For the majority of grain elevators businesses, loss leaders substantially increase customer traffic and create opportunities to expose new consumers to the brand. 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.
ROI
Good marketing is expensive. ROI concerns should be at the forefront of your mind when you think about the many ways you can promote your grain elevators business.
Mailings and other direct marketing strategies are common, but to realize maximum ROI we recommend purchasing consumer or B2B mailing lists from a reputable provider. Using the web, you can easily find the leading mailing list providers with an extensive database of targeted and updated sales prospects.
Share this article
Additional Resources for Entrepreneurs