March 28, 2020  
 
Gaebler.com is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

Resources for Entrepreneurs

 

Marketing Advice

 

Marketing a Bingo Equipment and Supplies Business

A profitable bingo equipment and supplies business is about more than supply and demand. It's about designing ways to entice new customers to engage with your products and to encourage existing customers to increase the frequency of their purchases.

For a bingo equipment and supplies business, a great business model doesn't guarantee solid revenues.

By applying a few common sense tips and marketing fundamentals, you can avoid the pitfalls and set your company on the path to marketing success.

Multichannel Marketing Strategies

Multichannel is an important buzzword in today's marketing circles. The time when brands could depend on monolithic marketing strategies are over. Now, growth-minded businesses need to populate multiple marketing channels with brand messaging.

Unless you adopt a multichannel strategy, your bingo equipment and supplies business will struggle to maintain a noticeable presence in the marketplace. For many companies, multichannel can mean completely revamping their marketing strategy to include a broader mix of media and information venues. If direct mail is an area that needs to be added to your mix, professional mailing lists from third-party providers are a no-brainer. We recommend contacting a few select list vendors to learn how you can intelligently incorporate mailing lists into a more diverse marketing strategy.

Loss Leaders

The majority of bingo equipment and supplies businesses frequently sell specific products at ridiculously low margins to boost traffic and new customer acquisition. 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. When used in bingo equipment and supplies businesses, this approach is most advantageous when it is coupled with a promotion for complementary products or services that are offered at full pricing. With adequate preparation, a loss leader promotion can be publicized through all of your company's marketing channels, including the company website.

Competitive Awareness

Competitive awareness is the starting point for creativity in marketing. There's nothing wrong with creativity, but if it precludes your messaging from being represented alongside other bingo equipment and supplies businesses, it could be a sign that you're out of touch with the marketplace. At a minimum, we recommend seeking a third-party perspective before you adopt any innovations that dramatically alter your marketing model.

More Articles on Marketing

Given your interest in marketing and in bingo equipment and supplies businesses, you might find these additional resources to be of interest.

Selling a Bingo Equipment and Supplies Business

How to Segment Markets


Conversation Board

What challenges have you experienced in marketing your bingo equipment and supplies business? How did you overcome those challenges? If you have practical insights about marketing, we'd like to hear from you.


Questions, Comments, Tips, and Advice  Code Image - Please contact webmaster if you have problems seeing this image code
Problem Viewing Image
Load New Code

Ready to Start Your Own Bingo Equipment & Supplies Business?

For tips on how to start a bingo equipment and supplies business, here are some more appropriate better resources for you:

Starting a Bingo Equipment & Supplies Business

Sell to Bingo Equipment & Supplies Businesses?

If you consider bingo equipment and supplies businesses to be sales prospects, this isn't the ideal place for you on our site. Try these instead:

Selling to Bingo Equipment and Supplies Businesses

Mailing Lists for Bingo Equipment and Supplies Businesses

More Guides on Marketing a Business

If you are eager to get marketing tips for a different industry, please browse our directory of marketing guides below.

Browse more marketing resource guides:

 

 

 

 

Additional Resources for Entrepreneurs

Lists of Venture Capital and Private Equity Firms

Franchise Opportunities

Contributors

Business Glossary