For a carbon monoxide testing business, a great business model doesn't guarantee solid revenues.
Like it or not, product quality alone doesn't deliver repeat customers. Cash is king in today's marketplace, so your marketing plan needs to focus on value messages.
Many of the highest performing carbon monoxide testing businesses go out of their way to maintain clear channels of communication with their customers. In this market sector, managers and promoters need to be extremely familiar with their customers' needs and purchasing preferences. More often than not, failure to maintain a robust connection with the marketplace translates into poor brand recognition and lackluster sales. By improving market awareness, small companies can often establish more meaningful customer connections than their competitors.
Smart carbon monoxide testing businesses understand that more customers will walk through the door if a few products are priced at less than full retail value. Although you may lose money on one product, you can make up for it buy selling a higher volume of other products. But to be effective, loss leader marketing requires planning, especially in product selection and price points. When used in carbon monoxide testing businesses, this approach is most advantageous when it is coupled with a promotion for complementary products or services that are offered at full pricing. Also, it's important to carefully consider the quantity of discounted products you are willing to offer at the loss leader price since stockpiling or a high volume of loss leader sales can negate the revenue benefits of this strategy.
Public Relations Strategies
Public relations is more subtle, but no less powerful than a full-blown marketing push. For example, if you buy a premium mailing list and use it to conduct a direct mail campaign, that's marketing. On the other hand, if the Sunday paper runs a story about your carbon monoxide testing business, that's PR. The art of storytelling is a core PR competency. Storylines need to be believable and objective while communicating your brand's strengths and value proposition.
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