We Need Better Marketing
Marketing an Archery Instruction Business
The value and earning capacity of an archery instruction business largely depends on the quality of its marketing efforts. But great marketing takes a lot more than hanging a shingle and hoping for the best.
For an archery instruction business, a great business model doesn't guarantee solid revenues.
Advances in technology and the marketplace itself have made it necessary for businesses to stay on top of the latest trends and strategies. The consistent application of solid marketing principles is one of the few business requirements that has stayed the same.
Multichannel Marketing Strategies
Are you up to speed on the multichannel marketing concept?. Today's consumers engage with brands in diverse ways. That means brands need to demonstrate similar diversity in the channels they employ to connect with customers.
Unless you adopt a multichannel strategy, your archery instruction business will struggle to maintain a noticeable presence in the marketplace. For many companies, multichannel can mean completely revamping their marketing strategy to include a broader mix of media and information venues. The acquisition of reliable mailing lists from proven providers can expedite the transition, but ultimately your efforts to go multichannel may require the assistance of a marketing professional.
Competitive Awareness
Good marketing begins with an awareness of what your competitors are doing to attract customers and stir up sales. Innovation is desirable in marketing, but if your company doesn't maintain a presence in the channels that are being used by other archery instruction businesses, there's a good chance that you're missing something. At a minimum, we recommend seeking a third-party perspective before you adopt any innovations that dramatically alter your marketing model.
Loss Leaders
The majority of archery instruction 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. But to be effective, loss leader marketing requires planning, especially in product selection and price points. When used in archery instruction 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