It's a misconception that small businesses can't compete with larger companies when it comes to marketing.
Business savvy entrepreneurs usually have a solid foundation in marketing. Unfortunately, it's takes more than a basic business mindset to achieve total market visibility. You will also have to become a student of specific marketing strategies for a plastic scrap business.
Improving Customer Loyalty
You've heard that it's less expensive to retain a current customer than it is to acquire a new one, right? For plastic scrap businesses, sorted and updated mailing lists obtained from top-tier providers are effective tools for customer acquisition. But as your customer base grows, you'll also need to develop programs that reward customer loyalty. Get it right and each new customer will represent a step forward in your company's growth; blow it and you'll end up struggling to acquire new customers just to maintain a breakeven revenue position.
When It's Time to Rebrand
There are many reasons why it might be time to begin a rebranding initiative - but a lack of alternative tactics is not one of them. Rebranding is an intentional marketing technique designed to deliver long term results. For a plastic scrap business, brands are tied to specific stages in the life of a business. If your company is expanding, you will inevitably outgrow your brand and it will be time to prepare for a comprehensive rebranding effort. If rebranding is unavoidable, it's important to update the brand while maintaining the elements that make it recognizable to consumers.
If circumstances allow it, a contest can be an effective tactic for a plastic scrap business. Although a contest won't automatically translate into higher revenue, it can be a strategic component of a comprehensive marketing plan. Even good contests carry risks, namely the possibility that your business will be dogged by allegations of unfair prize awards. That's why plastic scrap businesses invest time and resources to create contests they can count on to achieve desired outcomes.
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