February 26, 2020  
 
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Marketing a Bankruptcy Services Business

Marketing a bankruptcy services business isn't as simple as it seems. To get noticed, you'll need to invest time, energy, and resources in an innovative marketing plan.

Wondering how to market your bankruptcy services business? Unfortunately, there is a fine line between capturing buyers' attention and blending into the background.

Simplistic promotional techniques can't penetrate the clutter of the current marketplace. Effective marketing now means translating market learnings into techniques and tactics that are relevant to your business.

Public Relations Strategies

Public relations is more subtle, but no less powerful than a full-blown marketing push. If you want to send unrestricted marketing messages to your audience, buy a mailing list and perform a direct mail campaign. But if your strategy calls for sophistication, media buy-in and thought leadership, hire a PR consultant. The key to effective PR is to use nuanced messaging to attract the attention of reporters and media representatives. If reporters smell promotional content, they will back off from the story or create their own narrative.

Bundling

Messaging matters - but only to the degree that it communicates value to cost-conscious consumers. Businesses that bundle products tap into the market's psyche by creating the perception (real or imagined) of cost-savings. Most bankruptcy services businesses can leverage bundling to improve sales and attract new customers to the brand. Since the bundling concept is based on discounts, consumers expect to pay less for the bundle than they would if they were to buy the products separately, so you'll need to make sure your bundle offers real value to buyers.

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 For a bankruptcy services business, the time to rebrand is when your current brand is outdated or no longer in sync with the needs of the marketplace. All businesses change over time and rebranding can bring your business profile in line with your current core competencies. Unless you are confident that you possess the skills necessary to rebrand your business, we advise consulting with a professional marketing firm before you introduce a new brand to your customers.

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Have something to add on this topic? We're always interested in hearing about new strategies for marketing to bankruptcy services businesses, and we welcome your feedback, tips, and questions!


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