We Need Better Marketing
Marketing an Auto Racing Information Business
It's becoming more and more difficult for auto racing information businesses to rise above the clamor of the marketplace. Innovative marketing strategies may be your best bet for out-promoting -- and outperforming -- the competition.
For an auto racing information business, a great business model doesn't guarantee solid revenues.
The marketplace is constantly shifting to accommodate consumer demand and that means businesses need to adapt their marketing requirements accordingly. The consistent application of solid marketing principles is one of the few business requirements that has stayed the same.
Loss Leaders
Like many businesses, auto racing information 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 the majority of auto racing information 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.
Email Campaigns
Email campaigns make use of the fact that most consumers and businesses receive information electronically. More than 50% of all email users check their inbox six or more times a day. What does that mean for your company? It means the odds are in favor of email campaigns actually connecting with customers. In many auto racing information businesses, the hardest part of an email campaign is gathering the email addresses of likely customers. 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.
Competitive Awareness
Good marketing begins with an awareness of what your competitors are doing to attract customers and stir up sales. There's nothing wrong with creativity, but if it precludes your messaging from being represented alongside other auto racing information 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.
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