May 29, 2020  
 
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Marketing an Independent Researchers Business

Small and medium size independent researchers businesses can compete and even outperform larger competitors. All it takes is the right marketing plan.

Although innovation is important, consistency is critical when you market an independent researchers business. In this industry, the application of fundamental marketing tactics is more valuable than promotional fads and gimmicks.

In this industry, long-term survivors build their strategies around a core of marketing essentials.

Loss Leaders

Smart independent researchers businesses understand that more customers will walk through the door if a few products are priced at less than full retail value. When applied skillfully, a loss leader marketing strategy can lead to overall gains in revenue. 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 independent researchers 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.

Managing Negative Publicity

Not sure how to handle negative PR? You're not alone. It's a probably faced by many independent researchers businesses. The worst way to handle negative buzz is to put off developing a response until reporters are pounding on your door, demanding a comment from a company spokesperson. PR savvy independent researchers businesses work with consultants to develop a crisis response plan that can be executed on a moment's notice. Since part of your crisis response may involve direct mail, we also recommend working with quality mailing list providers to obtain accurate contact lists.

When It's Time to Rebrand

Rebranding can be the cornerstone of a successful marketing strategy. But unfortunately, many business owners choose to rebrand simply because they aren't sure what else to do. The most successful rebranding initiatives are the culmination of a deliberate process. For an independent researchers business, owners are often inspired to rebrand after analysis has demonstrated that the current brand is losing its impact in the marketplace. 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.

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