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Marketing a Manufacturers' Agents and Representatives Business
Promotional tactics for manufacturers' agents and representatives businesses are exceptionally diverse. But in our experience, there are a handful of tips and strategies that will deliver the best return for your marketing efforts.
In a manufacturers' agents and representatives business, the line between success and failure is based on more than the execution of core competencies.
A robust marketing plan cements your company's relationships with customers. With that in mind, it's important to leverage marketing as a path toward better customer engagement in your manufacturers' agents and representatives business's planning process.
Measurement & Evaluation
By purchasing high quality mailing lists from reliable providers, manufacturers' agents and representatives businesses may be able to increase the impact of their marketing tactics. However, there are no substitutes for measurement and evaluation mechanisms. A robust measurement and evaluation process should include metrics that can be monitored on a monthly, weekly or even daily basis. Designed to monitor marketing efforts on a campaign-by-campaign basis, these metrics can be used as a baseline for strategic planning. Simple quantitative tools are a good start. However, manufacturers' agents and representatives businesses frequently go outside of the organization for expertise.
Technological Expertise
The PR and marketing community has embraced technology with open arms, transforming basic marketing concepts into sophisticated, tech-driven systems and solutions. One of the things that needs to be considered by manufacturers' agents and representatives businesses is the need to increasingly incorporate technological marketing solutions into the marketing mix. Despite the initial cost associated with many technological solutions, the long-term payoff for the right technologies almost always outweighs the upfront expense.
Loss Leaders
Smart manufacturers' agents and representatives businesses are willing to sustain a slight loss or breakeven position on certain products and service offerings as a way to attract customers. Moreover, a loss leader marketing strategy can compensate for dead periods when customers tend to making purchases. But to be effective, loss leader marketing requires planning, especially in product selection and price points. When used in manufacturers' agents and representatives businesses, the real benefits of loss leaders emerge through the careful marketing of other products, usually offered at a much higher margin. Whenever possible, piggyback a loss leader approach with the purchase of bulk merchandise that can be bought at a discount.
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