Marketing is not a siloed business function. It's a cross-organizational discipline with ramifications for your balance sheet and earnings statement.
In some businesses, marketing takes a back seat to sales and operations. That's a mistake because without marketing, your brand messages aren't being heard. On the upside, great marketing is a real possibility for a bathroom remodeling business willing to adapt its strategy to the demands of the marketplace.
Expand Your Advertising Options
Take a look around the industry. Chances are, you'll see companies using a vast array of advertising vehicles to communicate brand messages. When it comes to bathroom remodeling businesses, it is mission critical to identify the advertising vehicles that are most likely to meet the specific marketing goals your business is facing right now. Over the past several years, bathroom remodeling businesses get solid marketing results from online channels capable of streaming high value content to a large, yet targeted customer base. In general, if your competitors know more about promoting their business online than you, you may lose market share.
The majority of bathroom remodeling 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. 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 bathroom remodeling 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.
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 bathroom remodeling business.
Mailings and other direct B2C/B2B channels can deliver decent ROI, but only if the lists are accurate, up-to-date and targeted to your market segment. For filtered and sorted mailing lists, you'll want to work with one of the direct mail industry's leading list providers.
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