For every business center winner, there many more business centers struggling to survive.
Time and time again, we see ingenuity, hard work, and industry knowledge as the deciding factors for business center profitability.
The majority of business centers are willing to sustain a slight loss or breakeven position on certain products and service offerings as a way to attract customers. 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 business centers, 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.
Building A Community Around Your Brand
Does your business have a social media presence? If not, you may be falling behind the rest of the marketplace. Many business centers need to do a better job connecting with their customers. There are many ways to launch a social media strategy. In our experience, it's helpful to begin with a direct mail campaign. Using vendor-provided mailing lists, you can broaden your reach by informing new contacts as well as established customers about your presence on popular sites like Facebook, Twitter and LinkedIn.
Make Sure You Have a Good Business Sign
Effective signage gives your brand constant exposure in its geographic market. Despite the fact that business centers are very different from each other, signage can be used by any business center to communicate the company's value to their customers. Visibility, branding elements and other considerations are all factors in the design and size of your operation's business signage.
Given the fact that signage in business centers has to fulfill a number of special requirements, it should be incorporated into your core marketing strategy. Talk with somebody who knows a lot about business signage advice and get their input before you create new business signs.
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