The struggle to find the right marketing mix is never-ending in a profit-oriented small business. However, great marketing strategies share a common characteristic.
It's not hard to convince most business owners that marketing plays a vital role in strategic planning. With marketing pressure at an all-time high, your business needs to incorporate tactics designed to position a trading posts business at the top of the heap.
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 trading posts business, meaningful brand conversations have the ability to transform the impact of your marketing efforts. To encourage marketplace conversations, you'll need to equip consumers with the tools they need to create meaningful brand dialogues. Social networking and other online strategies can play a foundational role when they are performed in tandem with face-to-face interactions and industry networking.
Encourage Word of Mouth Referrals
Industry-leading trading posts businesses operate in a business environment that relies on word of mouth marketing promotion to bolster customer acquisition and convert periodic buyers into loyal followers.
As a rule, your marketing strategy should include mechanisms that encourage meaningful brand conversations and spread the good word about your business. Mind you, there's a difference between word of mouth marketing and viral marketing -- if word of mouth marketing is a new concept for you, you might want to hire a marketing consultant.
There are a lot worthwhile reasons for trading posts businesses to conduct direct marketing. Unlike other marketing tactics, direct mail has the potential for exceptional ROI, as long as the messaging is strong and your mailing list is targeted toward likely customers. Third-party providers have a reputation for generating accurate mailing lists that can be sorted to accommodate niches and subsections of the market. Despite the added upfront expense, premium mailing lists are a smart investment if for no other reason than their ability to generate higher conversion rates.
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