Strong and steady wins the race in marketing a glass gifts business. In this industry, the application of fundamental marketing tactics is more valuable than promotional fads and gimmicks.
The marketplace is constantly shifting to accommodate consumer demand and that means businesses need to adapt their marketing requirements accordingly. The consistent application of solid marketing principles is one of the few business requirements that has stayed the same.
The majority of glass gifts businesses understand that more customers will walk through the door if a few products are priced at less than full retail value. Although you may lose money on one product, you can make up for it buy selling a higher volume of other products. A classic mistake of loss leader marketing is to create pricing without researching the competition. In a worse case scenario, you could be counting on pricing that is higher than your competitors. For the majority of glass gifts businesses, loss leaders substantially increase customer traffic and create opportunities to expose new consumers to the brand. Whenever possible, piggyback a loss leader approach with the purchase of bulk merchandise that can be bought at a discount.
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. For a glass gifts business, meaningful brand conversations have the ability to transform the impact of your marketing efforts. To encourage marketplace conversations, you'll need to equip consumers with the tools they need to create meaningful brand dialogues. With minimal effort, you can instigate conversations through social media and other communication vehicles favored by today's consumers.
The overall effectiveness of marketing and promotions boils down to the return you receive for your investment. You can't afford to waste money on ineffective tactics for your glass gifts business.
Professional mailing lists improve ROI even further. Vendors can filter your lists to likely buyers, reducing mailing costs and increasing the impact of your direct mail campaigns.
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