|
The declining state of the economy is the primary concern facing most American’s today.
Everywhere we go - this growing crisis follows us. It is all around us. It is on the front
page of every newspaper we read and splashed across every T.V. channel we watch.
Yet, regardless of what the media portrays, consumer reports state that outdoor sports
retailer spending is actually up 10% in comparison to this time last year.
These statistics prove that, despite growing uneasiness, it is actually possible to increase
your revenue during these difficult economic times.
Given this, it’s time to ask yourself, “What steps can I take to increase revenue and stand
out amongst my competitors?” Let’s discuss the three marketing tactics you must use in order to grow your
outdoor retail business despite our weakening economy:
1. Target your marketing efforts to specific market segments in order to maximize
campaign effectiveness.
It is important to continue your marketing efforts in difficult economic times, but it is
even more important to focus your efforts on key market segments to avoid unnecessary
spending. Target marketing is the practice of breaking your market into segments and then
concentrating your efforts on one or a few key segments. It is much more cost-effective to
spend your marketing dollars on the select few who are really interested in purchasing
your products rather than trying to message your company to everyone. Despite popular
belief, in this case - less is more.
In order to practice target marketing, you must research everything you need to know
about your primary audience(s) and then market your message directly to them. This
includes knowing where they shop, what websites they like to visit, what magazines and
newspapers they like to read, what their hobbies are, and what they like to do in their
spare time. Once you have a thorough understanding of your target consumer, customize your
marketing strategy to speak directly to your audience.
2. Build a consistent and cohesive marketing message.
Remember your goal is to stand out among your competitors, especially during difficult
economic times. Make it an easy decision for your consumers to choose your products
over your competitors. Ask yourself, “What do you offer that is different or more special
than the next retailer?” and then focus your efforts on marketing and communicating what
it is that makes you different.
Consider some of the top sellers in your market. For example, take a look at Nike, Inc.
Their consumers immediately recognize their brand through their use of consistent
marketing material. The swoosh in addition to the phrase “Just do it!” is recognized
around the world. In order to compete with these high-end companies, you must also
provide one consistent message that will be communicated across all mediums.
3. Create a referral generating website.
In today’s competitive world, just having a website is not enough. It is increasingly
important to have a clear and compelling website that dramatically increases your
revenue. You must quickly grab your user’s attention as studies show that your reader
decides whether or not to abandon your site within the first 5 to 20 seconds!
Be sure to use clear, compelling words with a strong call to action to get your consumers
to act now. If you have a shopping cart, ensure your check out is an easy and smooth
process. It is often wise to run reports on your shopping cart abandonment rates so that
you know what steps to take to increase functionality rather than turn away customers.
These are three very important steps to take to increase revenue during these
economically challenging times. Since we know it is possible to grow your business,
starting thinking how you can stand out among your competitors. What differentiates you
and your business?
| 
