For every lab success story, there are a dozen other labs struggling to survive.
What to know the characteristics that distinguish leading labs from other businesses in the industry? Surprisingly, the ability to create clear brand messages often outweighs product quality and other considerations.
A niche marketing approach is a good fit for small businesses, particularly labs 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.
If circumstances allow it, a contest can be an effective tactic for a lab. Although a contest won't automatically translate into higher revenue, it can be a strategic component of a comprehensive marketing plan. Even good contests carry risks, namely the possibility that your business will be dogged by allegations of unfair prize awards. That's why labs invest time and resources to create contests they can count on to achieve desired outcomes.
All business owners want to generate buzz about their products, services, and brand. Whether you call it viral marketing or word-of-mouth advertising, a lot of ground can be gained by encouraging positive conversations about your company. When you're promoting a lab, it's worthwhile to invest in strategies to promote brand conversations. Businesses that target brand discussions need to be active partners in dialogue. As you begin to promote brand discussions, you will need to also develop systems for monitoring the things that are being said about your company and using positive mentions to your advantage.
Given your interest in marketing and in labs, you might find these additional resources to be of interest.
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