The marketing model for a compasses business has changed dramatically over the past twenty years.
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.
Whether you're a marketing newbie or a seasoned veteran, you need to make a deliberate effort to educate yourself about innovative marketing principles. Entrepreneurs and leaders of compasses 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.
Discounts drive purchasing decisions, and compasses business consumers fit the pattern and factor discounts into their spending decisions. Some entrepreneurs have used the discount concept to lure in unsuspecting customers without actually reducing the price of the product. However, for consumers located in the compasses business sector, you won't get far with discounts unless you communicate clear value. Offsetting discounts with inflated pricing is a tired ploy that often does more harm than good. Instead, think about how you can use discounts to lure customers in during a slow period, to generate traction for new product offerings, and to break into new markets.
Multichannel Marketing Strategies
Multichannel is an important buzzword in today's marketing circles. Today's consumers engage with brands in diverse ways. That means brands need to demonstrate similar diversity in the channels they employ to connect with customers.
In today's marketplace, it simply isn't possible for compasses businesses that funnel the bulk of their resources toward a single marketing channel to maintain a noticeable presence in the marketplace. In practice, multichannel means embracing a mixture of online and offline message pipelines, based on the places your customers go for information. The acquisition of reliable mailing lists from proven providers can expedite the transition, but ultimately your efforts to go multichannel may require the assistance of a marketing professional.
We would like to share these additional resources with you.
For those who want to open a compasses business, these resources provide helpful advice:
If you want information on how to sell to compasses businesses, there's more useful information for you elsewhere on our site. Try these instead:
If you are looking for marketing advice for a different kind of business, please browse our directory of marketing guides below.