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Eight Marketing Tips For Service Industry

Eight Marketing Tips for the Service Industry  Assignment / Homework Help
Even the most successful companies have to face hardships at one time or the other. In such situations the company should never abandon its marketing strategies but should adapt them. Given below are some tips that can be followed to help a service industry survive in times of recession.

  • Recognizing the potential that lie amongst the existing clients.
    The existing clients are the people who trust and have faith in the industry. A lot of effort, persuasion, time and money have been spent in building this clientele. It is from this source of faithful customers can the industry aim to make additional profits and business. It is ten times easier to woo an existing customer into buying a service for the second time than having a new customer buy a service for the first time. Marketing efforts of the industry get a boost when a prospective client receives a recommendation from a family or friend.
    Customers can be offered discounts if they can attract new customers. For instance, as a part of promotional campaign an offer can be given where both the customer and his friend receive a discount on purchase of service.

  • Developing a Marketing Strategy
    The size of business cannot determine an industry's growth. It is the number of prospective clients and customers it can market to which determines it. Recession does not mean the expense on marketing should be curtailed. In fact it has been seen that business's who increase marketing during recession, when competitors are backing out, improve their market share at lower costs than during better economic conditions. For maintaining cost effectiveness advertisement space can be reduced. SMS can be used to reach out to more people at low cost. Therefore market planning should be well thought out.

  • Data Capture
    Creating a mailing list is always fruitful. It helps in targeting marketing campaigns more effectively. Collecting the names of client is a difficult task. To lure them into giving their names competitions can be organised, discounts or even loyalty cards can be offered. This database should be maintained regularly and kept up to date. E-mail address of clients is a more convenient option than postal address as communication through former is cheaper. Information like purchase history can be maintained. In this way clients who are cutting back can be traced and efforts can be made to bring them back.

  • Importance of Internet
    The importance of maintaining constant communication with clients cannot be denied. Personal information like e-mail addresses of clients can be used in this regard. Clients can be informed about special offers, discounts, competitions etc. Newsletters and articles can be mailed to them.

  • Use of Technology
    Use of website for promotional purpose rather than using age old methods like leaflets and pamphlets is a better idea. New forms of communication should be adopted as they are more effective and economical. Text messages should be sent to confirm appointments. This not only adds a personal touch but also saves time of staff in case of no show.

  • Advertising
    According to several research reports the effect of advertising is short-lived. Therefore justified amount of money should be spent over them. It is a better idea to spend smaller amounts regularly into them. In this way the client is always reminded of the services offered. Advertising should be done very intelligently. The contents of the advertising should talk more of the services the product will provide rather than the product itself. The response received by an advertisement should be evaluated. How many people responded to the ad should be noted. And how many of those responses actually turned into sales is another important point.

  • Promotions
    Instead of a generic campaign efforts should be made to make it more personalised and targeted. This is a cost-efficient method. Buyers are generally sceptical of promotions so they should be framed appropriately.

  • Loyalty Programs
    Loyalty programs always help in business growth. When a customer gets a good deal he becomes loyal. One of the most common techniques is to give a free service after the client has bought a set number of services. Regular customers can be invited to try a new service free of cost or at reduced rates.

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