We see marketing as the great equalizer, a business discipline capable of dramatically increasing a small company's footprint in the marketplace.
A lack of marketing experience can sometimes be overcome through persistence and innovation, two key features of Christmas stockings business marketing success.
The majority of Christmas stockings businesses are willing to sustain a slight loss or breakeven position on certain products and service offerings as a way to attract customers. When applied skillfully, a loss leader marketing strategy can lead to overall gains in revenue. But to be effective, loss leader marketing requires planning, especially in product selection and price points. For the majority of Christmas stockings businesses, the real benefits of loss leaders emerge through the careful marketing of other products, usually offered at a much higher margin. 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.
Don't have a background in marketing? That shouldn't stop you from taking a larger promotional role in your company by educating yourself about today's most effective marketing concepts. Owners of Christmas stockings businesses need to make every dollar count, especially when it comes to their marketing budgets. When in doubt, tap into either an internal or external knowledge base to design your company's marketing strategy.
Uncoordinated and disjointed marketing plans tend to backfire on Christmas stockings businesses. A strategy chocked full of time-sensitive ad placements and other tactics can devolve into a tangled mess of overlapping deliverables unless it is coordinated in a promotional calendar. Good calendars include not only tactical deadlines, but also schedules for the inputs (e.g. staff assets, vendors, etc.) that are required to execute strategic objectives. Many list vendors appreciate promotional calendars because they are useful for timing the delivery of the resources your business needs to meet strategic objectives.
Ready to learn more? You may find these additional resources to be of interest.
For tips on how to start a Christmas stockings business, these resources provide helpful advice:
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