For every furniture pads business winner, there many more furniture pads businesses calling it quits.
Business savvy entrepreneurs usually have a solid foundation in marketing. Unfortunately, it's takes more than a basic business mindset to achieve total market visibility. You will also have to become a student of specific marketing strategies for a furniture pads business.
Hiring A Marketing Firm
Many furniture pads business operations turn to marketing firms for guidance. Professional marketers are usually on the bleeding edge of the industry and boast better returns for the investment than internal marketing units. Once you decide to hire a professional marketing firm for your furniture pads business, experience should trump other considerations. Marketing firms that lack industry experience are sometimes unfamiliar with competitive marketing channels and may not understand the value propositions that dominate industry messaging.
Like many businesses, furniture pads businesses understand that more customers will walk through the door if a few products are priced at less than full retail value. Moreover, a loss leader marketing strategy can compensate for dead periods when customers tend to making purchases. But to be effective, loss leader marketing requires planning, especially in product selection and price points. For the majority of furniture pads 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.
Managing Negative Publicity
Not sure how to handle negative PR? You're not alone. It's a probably faced by many furniture pads businesses. The worst way to handle negative buzz is to put off developing a response until reporters are pounding on your door, demanding a comment from a company spokesperson. PR savvy furniture pads businesses work with consultants to develop a crisis response plan that can be executed on a moment's notice. Mailing list providers can also provide quick access to accurate mailing lists, an important consideration if your crisis response plan contains a direct mail component.
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