Issue link: https://docs.hic.us/i/403552
Focus Your Marketing Efforts Marketing is a key part of your overall business development. To create and bring in regular sales, it's imperative that you create successful marketing strategies. Many new Embroiderers go after everything they can get their hands on. This is not necessarily a bad thing, but in the long run it's not a focused approach, which can lead to an ineffective marketing strategy. As your business develops, you should begin to focus on which types of customers are the most profitable and which jobs are the most efficient to produce. Obviously, this is a direction that you will want to follow. In order to do so, you will want to create marketing and promotion strategies to bring in more work like this. This is typically referred to as Niche Marketing. For example, if you found that medium sized Corporate orders were more profitable and less of a headache than small monogramming orders, then it would be desirable to encourage more orders from the first market and less from the second. Thus, you would develop methods for reaching the medium sized Corporate client. NOTE: This is only an example. There is no inference that Corporate orders are more profitable than monogramming orders. In fact the opposite may be true. Of course, you shouldn't drop all of your business while pursuing one specific niche. Plus, it's possible to develop and service multiple niches. However, by having a focus, you can make better use of your resources by focusing them on a specific market(s). NOTE: Refer to Chapter 4, Chapter 9 and Attachment F for more information about Marketing. www.hsi.us care@hsi.us 76