March 27, 2020  
 
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Marketing a Gift Exchanges Business

You're heavily invested in the success of your gift exchanges business and failure isn't an option. That means you'll also need to invest yourself in the strategies and techniques it takes to effectively market your brand in the marketplace.

Novice marketers are typically unprepared for the challenge of promoting brands and products in the competitive arena.

Purpose in marketing is the key to success in this space. The most successful gift exchanges businesses achieve market dominance through the careful execution of deliberate strategies. Your company is one-of-a-kind. But your marketing strategy will need to include a handful of features that are common to the industry's top performers.

Product Knowledge

Are you intimately familiar with your brands' product line? You better be if you're marketing a gift exchanges business. Seemingly insignificant product specs can be leveraged to communicate value and depth, separating your gift exchanges business from the rest of the field. If you can't articulate your products' unique characteristics, your messaging - and revenue stream - will suffer.

Newsletters

Despite the unrelenting demands of generating content on a monthly or quarterly basis, a company newsletter has promising potential as a marketing device. Unlike flyers and other advertising mediums, newsletters have an informational focus. In fact, the best newsletters encourage customers to take the next step without ever asking for a sale. Increasingly, gift exchanges businesses to distribute newsletters through online channels (e.g. in email campaigns and as PDFs on the company website).

Public Relations Strategies

Marketing and public relations are two distinct promotional disciplines. While marketing flows blatant advertising messages to audiences, PR takes a more educational and informative approach. If you want to send unrestricted marketing messages to your audience, buy a mailing list and perform a direct mail campaign. But if your strategy calls for sophistication, media buy-in and thought leadership, hire a PR consultant. The key to effective PR is to use nuanced messaging to attract the attention of reporters and media representatives. If reporters smell promotional content, they will back off from the story or create their own narrative.

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What challenges have you experienced in marketing your gift exchanges business? How did you overcome those challenges? If you have practical insights about marketing, we'd like to hear from you.


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