Niche Marketing Strategies
Marketing a Hobby Shop
The value and earning capacity of a hobby shop largely depends on the quality of its marketing efforts. But great marketing takes a lot more than hanging a shingle and hoping for the best.
In the current economic climate, one thing separates thriving hobby shops from companies at the bottom of the food chain.
A robust marketing plan cements your company's relationships with customers. Great marketing is good business -- and it begins by integrating a handful of proven marketing concepts into your hobby shop's strategic plan.
ROI
Good marketing is expensive. Like any other business, ROI is a primary marketing concern in your hobby shop.
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.
Discounts
Most consumers respond positively to discounts whether they are perceived or real; hobby shop consumers fit the pattern and factor discounts into their spending decisions. The power of a great discount is its ability to convince buyers that are receiving special treatment, a deal that isn't ordinarily available. However, for consumers located in the hobby shop industry, 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.
Industry Resources
Lone rangers don't survive long in a hobby shop. 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. The best resources are usually the ones that leverage industry-specific experience and the input of proven veterans.
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