Business Marketing Advice
Marketing a Racing Engines Business
It's becoming more and more difficult for racing engines businesses to rise above the clamor of the marketplace. Innovative marketing strategies may be your best bet for out-promoting -- and outperforming -- the competition.
Still looking for a way to effectively market your racing engines business? Unfortunately, there is a fine line between capturing buyers' attention and blending into the background.
Staying on track requires attention to detail and a commitment to foundational marketing principles.
Loss Leaders
The majority of racing engines businesses understand that more customers will walk through the door if a few products are priced at less than full retail value. Moreover, a loss leader marketing strategy can compensate for dead periods when customers tend to making purchases. But to be effective, loss leader marketing requires planning, especially in product selection and price points. For the majority of racing engines businesses, the real benefits of loss leaders emerge through the careful marketing of other products, usually offered at a much higher margin. With adequate preparation, a loss leader promotion can be publicized through all of your company's marketing channels, including the company website.
Media Monitoring
Some marketing initiatives lend themselves to simple measurement while others are more challenging. Outsourced lead generation through reputable mailing list vendors facilitates easy measurement and evaluation for direct mail campaigns. The difficulty comes when you are tasked with quantifying market presence and brand influence. Fortunately, media monitoring has the ability to give your racing engines business a sense of market presence and other variables that are difficult to quantify. If executed properly, media monitoring can help your brand get ahead of negative messaging and exert greater influence over news cycles.
Industry Resources
Lone rangers don't survive long in a racing engines business. Most leaders are oblivious to the fact that the marketplace shows no favoritism - for every marketing challenge your business faces, there are hundreds of other businesses and leaders struggling to solve the same problem. The best resources are usually the ones that leverage industry-specific experience and the input of proven veterans.
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