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.
Simplistic promotional techniques can't penetrate the clutter of the current marketplace. Effective marketing now means translating market learnings into techniques and tactics that are relevant to your business.
Never underestimate the value of good buzz with consumers. Whether you call it viral marketing or word-of-mouth advertising, a lot of ground can be gained by encouraging positive conversations about your company. For an information processing and retrieval equipment and systems business, meaningful brand conversations have the ability to transform the impact of your marketing efforts. The process begins with developing communication vehicles and mechanisms that invite discussion. With minimal effort, you can instigate conversations through social media and other communication vehicles favored by today's consumers.
Some marketing initiatives lend themselves to simple measurement while others are more challenging. For example, if you buy a mailing list and conduct a direct mail campaign, you should have little difficulty measuring the campaign's effectiveness and ROI. However, measuring the amount of influence your brand has in the marketplace can be trickier. Fortunately, media monitoring has the ability to give your information processing and retrieval equipment and systems business a sense of market presence and other variables that are difficult to quantify. If executed properly, media monitoring can help your brand get ahead of negative messaging and exert greater influence over news cycles.
Discounts drive purchasing decisions, and information processing and retrieval equipment and systems business consumers fit the pattern and factor discounts into their spending decisions. Some entrepreneurs have used the discount concept to lure in unsuspecting customers without actually reducing the price of the product. However, for consumers located in the information processing and retrieval equipment and systems business world, you won't get far with discounts unless you communicate clear value. Offsetting discounts with inflated pricing is a tired ploy that often does more harm than good. Instead, think about how you can use discounts to lure customers in during a slow period, to generate traction for new product offerings, and to break into new markets.
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