October 26, 2020  
 
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Marketing a Hazardous Materials and Waste Services Business

There is little room for error in marketing a hazardous materials and waste services business in today's economy. Fortunately, we have the information you need to stay ahead of the curve and outperform the rest of the field.

For a hazardous materials and waste services business, exceptional product quality is only part of the struggle to meet revenue goals.

Top performers habitually integrate sound marketing concepts with market demands.

Customer Awareness

Many of the highest performing hazardous materials and waste services businesses go out of their way to maintain clear channels of communication with their customers. In this market sector, managers and promoters need to be extremely familiar with their customers' needs and purchasing preferences. Why? Because without a thorough understanding of buyer mindsets, it is impossible to accurately predict which tactics will deliver results. By improving market awareness, small companies can often establish more meaningful customer connections than their competitors.

Loss Leaders

The majority of hazardous materials and waste services businesses are willing to sustain a slight loss or breakeven position on certain products and service offerings as a way to attract customers. When applied skillfully, a loss leader marketing strategy can lead to overall gains in revenue. But to be effective, loss leader marketing requires planning, especially in product selection and price points. When used in hazardous materials and waste services businesses, the real benefits of loss leaders emerge through the careful marketing of other products, usually offered at a much higher margin. With adequate preparation, a loss leader promotion can be publicized through all of your company's marketing channels, including the company website.

Niche Marketing

Niche marketing is strategy that focuses on a subsection of the larger market. This can be especially useful for hazardous materials and waste services businesses trying to establish a larger footprint in a targeted market segment. To be effective, niche marketing requires attention to the kinds of details many businesses overlook. A keen awareness of your company's unique value proposition is a prerequisite for success in this approach.

Furthermore, niche marketing means tailoring resource acquisitions to the needs of your market segment. For example, top providers can focus mailing lists to the specific requirements of your market niche.

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