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Marketing a Mosaics Business
Small and medium size mosaics businesses can compete and even outperform larger competitors. All it takes is the right marketing plan.
Multiple marketing factors affect bottom line profitability. However, great marketing strategies share a common characteristic.
Purpose in marketing is the key to success in this space. High-performing mosaics businesses achieve market dominance through the careful execution of deliberate strategies. Although you'll need to consider your company's unique marketing objectives, there are several tips we advise our partners to integrate into their promotional plans and strategies.
Strategic Partnerships
Strategic partnerships offer mosaics businesses economies of scale, not to mention a larger promotional footprint. Think about it: even on your best day, your company has the ability to influence a certain percentage of potential customers. But when you partner with a complementary supplier to perform a joint marketing campaign, you multiply your customer base and generate a more powerful market presence.
Loss Leaders
Like many businesses, mosaics businesses frequently sell specific products at ridiculously low margins to boost traffic and new customer acquisition. When applied skillfully, a loss leader marketing strategy can lead to overall gains in revenue. The key is to know your profit margins and use loss leader pricing to undercut the competition in targeted product categories. For the majority of mosaics 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.
Managing Negative Publicity
A certain amount of negative publicity is a given for most mosaics businesses. Bad situation inevitably get worse when companies haven't prepared for the possibility of a negative news cycle. At Gaebler, we advise our business partners to have an updated crisis response plan in place at all times. In a crisis, accurate contact lists can be a lifesaver. A top quality mailing list provider can provide fast turnaround times on up-to-date and filtered lists.
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