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Marketing a Marine Coatings Business
Trying to market a marine coatings business? It's a crowded marketplace, but with dedication and persistence, great marketing can help your business outperform larger competitors.
For every marine coatings business winner, there many more marine coatings businesses struggling to survive.
Time and time again, we see ingenuity, hard work, and industry knowledge as the deciding factors for marine coatings business marketing success.
Public Relations Strategies
The beauty of PR is that it can raise awareness of your offerings in a very credible and cost-effective fashion. If you want to send unrestricted marketing messages to your audience, buy a mailing list and perform a direct mail campaign. But if your strategy calls for sophistication, media buy-in and thought leadership, hire a PR consultant. Since PR leverages media outlets, it may cost nothing to acquire media placements that feature interesting storylines about your products and brand. The trick is learning how to pitch storylines to media professionals without sounding too promotional or sales-oriented.
Loss Leaders
The majority of marine coatings businesses understand that more customers will walk through the door if a few products are priced at less than full retail value. Moreover, a loss leader marketing strategy can compensate for dead periods when customers tend to making purchases. The key is to know your profit margins and use loss leader pricing to undercut the competition in targeted product categories. For marine coatings businesses, the real benefits of loss leaders emerge through the careful marketing of other products, usually offered at a much higher margin. Also, it's important to carefully consider the quantity of discounted products you are willing to offer at the loss leader price since stockpiling or a high volume of loss leader sales can negate the revenue benefits of this strategy.
Generating Buzz
Never underestimate the value of good buzz with consumers. You've heard it said before: Word of mouth is the best form of promotion for products and brands. For a marine coatings business, buzz is a critical consideration in the marketing mix. The process begins with developing communication vehicles and mechanisms that invite discussion. With minimal effort, you can instigate conversations through social media and other communication vehicles favored by today's consumers.
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