A snazzy logo, glossy brochure and must-have brand merchandise mean nothing apart from a robust marketing strategy.
These days, most businesses are counting on the fact that their marketing plans will push them ahead of their competitors and deliver the best possible market share. But in a zero-sum economy, there are winners and losers -- and here are some of the things that will help keep your drilling and boring equipment and supplies business at the top of the heap.
Business leadership can be a lonely profession, especially when you're leading a drilling and boring equipment and supplies business. Most leaders are oblivious to the fact that the marketplace shows no favoritism - for every marketing challenge your business faces, there are hundreds of other businesses and leaders struggling to solve the same problem. Even though trade journals have value, we've found that the best insights are often gained through face-to-face contact with industry insiders.
People like to feel like they're getting a discount, so not surprisingly drilling and boring equipment and supplies business customers are no exception. The power of a great discount is its ability to convince buyers that are receiving special treatment, a deal that isn't ordinarily available. Due to the market intelligence of buyers in the drilling and boring equipment and supplies 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.
Sloppy marketing programs have no place in growing drilling and boring equipment and supplies 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.
Given your interest in marketing and in drilling and boring equipment and supplies businesses, you might find these additional resources to be of interest.
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