Although innovation is important, consistency is critical when you market a cutting tools business. In this industry, the application of fundamental marketing tactics is more valuable than promotional fads and gimmicks.
As a business owner, you probably already have a firm grasp of basic marketing concepts. But as an innovative business leader, you need to follow the marketing tactics competitive cutting tools businesses utilize in the marketplace.
Social Media Monitoring
The use of social media as a marketing tool is the latest wave to overtake the small business community. Combined with a functional company website, social media attracts new customers and converts them to brand advocates. Social media can quickly go negative, turning brand advocacy into "badvocacy", a scenario in which consumers and users create content deriding your company and your products. All cutting tools businesses are especially vulnerable to negative exposure through social media. To counter negative social media, you'll need to monitor your brand's online presence and enter the conversation, redirecting negative discussions toward more positive topics.
Never underestimate the value of good buzz with consumers. You've heard it said before: Word of mouth is the best form of promotion for products and brands. In a cutting tools business, it's worthwhile to invest in strategies to promote brand conversations. The process begins with developing communication vehicles and mechanisms that invite discussion. With minimal effort, you can instigate conversations through social media and other communication vehicles favored by today's consumers.
It makes sense for cutting tools businesses to participate in direct marketing. Unlike other marketing tactics, direct mail has the potential for exceptional ROI, as long as the messaging is strong and your mailing list is targeted toward likely customers. Third-party providers have a reputation for generating accurate mailing lists that can be sorted to accommodate niches and subsections of the market. Are vendor-provided mailing lists worth the investment? We think so. But the real value is that the quality of the contacts contained in a premium mailing list can be the catalyst for long-term customer relationships.
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