Business Marketing Advice
Marketing a Retirement Apartments and Hotels Business
You have to be light on your feet to stay ahead of the curve these days, especially when you're promoting a retirement apartments and hotels business. We have the information you need to create a nimble, yet effective marketing strategy for your business.
In a retirement apartments and hotels business, a great business model doesn't guarantee solid revenues.
Top performers habitually integrate sound marketing concepts with market demands.
Niche Marketing
A niche marketing approach is a good fit for small businesses, particularly retirement apartments and hotels businesses trying to establish a larger footprint in a targeted market segment. By pursuing a niche strategy, you can increase ROI by funneling resources toward the customers who are most likely to buy your products.
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.
Customer Awareness
Most retirement apartments and hotels businesses go out of their way to maintain clear channels of communication with their customers. In this market sector, managers and promoters need to be extremely familiar with their customers' needs and purchasing preferences. More often than not, failure to maintain a robust connection with the marketplace translates into poor brand recognition and lackluster sales. By improving market awareness, small companies can often establish more meaningful customer connections than their competitors.
Loss Leaders
Like many businesses, retirement apartments and hotels 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. A classic mistake of loss leader marketing is to create pricing without researching the competition. In a worse case scenario, you could be counting on pricing that is higher than your competitors. For retirement apartments and hotels 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.
Share this article
Additional Resources for Entrepreneurs