For a tools repair and parts business, a great business model doesn't guarantee solid revenues.
Like it or not, product quality alone doesn't deliver repeat customers. Cash is king in today's marketplace, so your marketing plan needs to focus on value messages.
In an entertainment on-demand universe, broadcast TV and radio have been the big losers. However, it would be a mistake to discount broadcast advertising entirely. Many tools repair and parts businesses continue to find ways to attract audiences to their brand through broadcast media. Best practices for the use of broadcast advertising require businesses to evaluate their target audience's listening or viewing patterns and then tailor their media purchases to specific media outlets rather than blanketing the geography with brand messaging. When marketing tools repair and parts businesses, the target audience is almost always local or regional. For broader reach, you'll likely need to look beyond broadcast venues and explore other online and offline marketing vehicles.
Expand Your Advertising Options
The number of advertising options to choose from can be overwhelming. Traditional advertising mediums like print ads, billboards, TV & radio commercials, are still popular in many industries and business sectors. But for tools repair and parts businesses, the challenge is identifying the advertising solutions that are appropriate for your customers and consistent with your marketing goals. Increasingly, tools repair and parts businesses are leveraging digital assets to communicate brand messages through powerful online channels, maximizing ROI and gaining a more direct pipeline to their customers. In general, if your competitors know more about promoting their business online than you, you may lose market share.
The economy is a constant concern for people who own a tools repair and parts business. When businesses buy mailing lists, they expect a return for their investment. Unfortunately, they don't always get it. More often than not, you'll get a better ROI from highly rated list providers than you will from cheaper alternatives. Good mailing lists are money in the bank; they deliver leads, revenue and most importantly, new customers.
In addition to purchasing first-rate mailing lists, we advise our business partners to carefully track the costs and returns for each of their marketing channels. If a specific marketing channel fails to meet your expectations, consult with a professional marketing firm about how to make the channel more productive or eliminate it from your marketing mix.
Given your interest in marketing and in tools repair and parts businesses, you might find these additional resources to be of interest.
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