June 5, 2020  
 
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Marketing a Used and Rebuilt Marine Equipment Business

It's becoming more and more difficult for used and rebuilt marine equipment businesses to rise above the clamor of the marketplace. Innovative marketing strategies may be your best bet for out-promoting -- and outperforming -- the competition.

Although innovation is important, consistency is critical when you market a used and rebuilt marine equipment business. Industry leaders faithfully adhere to a set of foundational marketing principles.

Staying on track requires attention to detail and a commitment to foundational marketing principles.

When It's Time to Rebrand

There are many reasons why it might be time to begin a rebranding initiative - but a lack of alternative tactics is not one of them. Rebranding is an intentional marketing technique designed to deliver long term results. For a used and rebuilt marine equipment business, brands are tied to specific stages in the life of a business. If your company is expanding, you will inevitably outgrow your brand and it will be time to prepare for a comprehensive rebranding effort. Unless you are confident that you possess the skills necessary to rebrand your business, we advise consulting with a professional marketing firm before you introduce a new brand to your customers.

Email Campaigns

Today's consumers are extremely tech-savvy. They rely on social media and email to both receive and transmit brand messages. What does that mean for your company? It means the odds are in favor of email campaigns actually connecting with customers. In many used and rebuilt marine equipment businesses, the real challenge is compiling a substantive quantity of qualified email addresses. Premium mailing list providers can mitigate the cost and hassle of in-house list generation. More importantly, providers typically give business owner an assurance that their lists are accurate and up-to-date.

Loss Leaders

The majority of used and rebuilt marine equipment 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 used and rebuilt marine equipment businesses, loss leaders substantially increase customer traffic and create opportunities to expose new consumers to the brand. Whenever possible, piggyback a loss leader approach with the purchase of bulk merchandise that can be bought at a discount.

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Conversation Board

Good advice often comes from your peer business owners. Do you have any tips or advice on marketing a used and rebuilt marine equipment business? We'd love it if you could share them by posting a comment below. What marketing initiatives have you tried and how did they work out for you?


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