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Cash flow snags are responsible for the failure of at least 82% of all businesses. By implementing smart marketing strategies, it’s possible to accelerate your business growth and avoid potential pitfalls. If you’re in the tape industry, then you can source a wide variety of unique specialty tape products that will set your company apart.
Here are 6 unique marketing strategies to grow a commodity company in the tape industry:
- Know your competition
Before you can hit the ground running, it’s important to know exactly who you’re up against. Research about other businesses operating within the tape industry, then establish how they conduct business. In addition, identify potential hindrances faced by your prospective clients, then figure out how those issues could be resolved effectively. Making such discoveries will help you understand what your prospects really need, allowing you to design a tailored solution.
- Provide better services to customers
After you’re well versed with the competition, seek to be better than them. Learn how you can offer bespoke services to your range of customers. For instance, if your competitors employ automated voice recordings to answer phone calls, ensure that all your business calls are answered by live people. You could also offer same-day deliveries and exceptional after-sales services to customers.
- Create a sound pricing strategy
You need to figure out a suitable rate for your range of tape products. However, this process isn’t always straightforward – your pricing shouldn’t be exceedingly high since it will discourage customers from buying your products. On the other hand, you must ensure that the pricing is high enough to cover all costs and earn you some profit. It’s important to strike a balance between providing high quality products, exquisite services and fair pricing.
- Focus on adding value
One major reason why most businesses fail is their uncanny desire to create huge profits while disregarding value-addition. Essentially, every business ought to communicate effectively about the products/services it offers. The features and benefits of those products must also be highlighted – this sensitizes customers about what your tape business is all about. This distinct marketing strategy allows you to convey all the impalpable benefits that set your company apart.
- Strike a balance between quality and speed
If you desire to gain impressive leeway in the tape industry, quality and speed are essential. Your products must be made using the best materials or sourced from a revered manufacturer. In addition, your service delivery must be faster and more streamlined than that of the competition. Today, people demand instant results. They want exquisite products delivered promptly. Therefore, find out how you can provide better products and quicker services to your customers.
- Build loyalty and trust
All meaningful relationships, including healthy business-customer interactions, are forged by loyalty and trust. A deficiency of these two attributes creates a shaky foundation and puts your company at a higher risk of collapse. Therefore, seek to build trust by fulfilling your brand promises and maintaining consistency. Creating a high level of trustworthiness ultimately helps you form a strong reputation among customers.