Proven Marketing Strategies to Increase Revenue, Increase Profits, Combat Competitors, Clear Inventory and Sell The Business
While many of the day-to-day marketing activities revolve around one promotion or another it's important to ensure that your activities are supporting a useful strategy. In turn, that marketing strategy should be supporting business goals.
Here's a list of marketing strategies that Marketingsage can advise on and help execute:
Business Goal |
Marketing Strategy |
Increase Revenue |
Win new customers in existing markets
Win new customers in new markets
Increase sales to existing customers
Add distributors and/or resellers
Get existing resellers selling — retrain them, offer incentives to them
Launch new products/services
Customize offerings for better appeal in distinct market segments
Increase prices
Offer volume purchase incentives
Offer early payment incentives
Reduce product returns
Don't promote replacement products that can't be shipped |
Increase Profits |
Promote higher margin products
Increase prices
Beat competitors to market — less competition, lower price sensitivity
Increase value — more features, better support, etc.
Reduce product and distribution costs
Reduce marketing costs — better targeting, pay-for-action promotions, etc.
Exit low margin markets
Eliminate low margin products
Terminate high maintenance customers and resellers
Extend the life of mature products
Reduce product returns
Pricing and distribution policies that mitigate gray market sales
Leverage existing brands so you don't have to build new ones |
Combat Competitors |
First to market —- better PR, untapped demand, set the standards
First to volume — lower costs/price faster, fulfill demand faster
Fast follower — learn from efforts of the pioneer (lower cost, fewer mistakes)
Patent or copyright products, technology, terms, methods
Promotions —- always be among the 3 products considered
Certifications — acquire compatibility certifications. Get on approved buyer lists
Lock up sales channels — exclusivity deals, stuff the shelves
Out market them with better messages, promotions, media choices
Pre-announce lower prices of soon to ship products to stall competitor sales |
Clear Inventory |
Increase promotions
Offer sales incentives
Lower prices
Bundle with other products
Donate unsold inventory to charity for a tax write-off
Rework it into a new product or spare parts
Don't promote replacement product that would cannibalize sales
Announce pending supply shortages to encourage early purchases |
Sell the Business |
Increase revenue
Capture market share
Accumulate intellectual property
Build a desirable brand name
Sign agreements with strategic customers and resellers
Build a hard-to-replace (poach) team |
About Marketingsage
Marketingsage is a full service marketing firm that helps other marketers and business executives increase revenue by cost-effectively generating sales leads, building brands, launching products and developing sales channels. With Marketingsage you can add expertise, bandwidth, specialized tools and contacts when you need them, for as long as you need them.
If you think Marketingsage may be able to help you and your business, please give us a call at 925-426-0488 or click here to have us contact you.
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