Marketing is a tricky business discipline, especially for inexperienced entrepreneurs who possess more enthusiasm than expertise.
Customer loyalty isn't what it used to be. Cash is king in today's marketplace, so your marketing plan needs to focus on value messages.
Some marketing initiatives lend themselves to simple measurement while others are more challenging. Direct mail can be evaluated by tallying the cost of inputs (e.g. a premium mailing list, printing, postage, etc.) and measuring the number of customer responses you receive from the campaign. However, measuring the amount of influence your brand has in the marketplace can be trickier. Fortunately, media monitoring has the ability to give your leather goods trimmings business a sense of market presence and other variables that are difficult to quantify. Even more importantly, media monitoring can alert you to negative commentary early, giving you the opportunity to counter negative mentions with more accurate and more positive messaging.
Are you intimately familiar with your brands' product line? You better be if you're marketing a leather goods trimmings business. Small product details translate into key value propositions which are critical for distinguishing a leather goods trimmings business in the marketplace. If you can't articulate your products' unique characteristics, your messaging - and revenue stream - will suffer.
In a difficult economy, consumers expect businesses to engage in a certain amount of price matching. The principle is simple: Since pricing is a primary factor in product selection, your business agrees to match advertised competitor pricing. Without price matching, if they can locate lower pricing from a competing leather goods trimmings business, potential clients will abandon your brand in droves. Today's consumers are educated and informed. They use social media and other tools to identify the best pricing, making it imperative for small business to consider the value of a well-publicized price matching strategy.
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