Today we’re going to look at a few tips you can use to market your business in an extremely spam filled industry. The reason why an industry becomes filled with spam is not because it is a bad industry but because it is highly profitable! The industry we are going to look at today is E liquids. The reason for the article is due to a company (www.snakevape.co.uk) came to me looking to do some online and offline marketing for them. After initially being worried I decided to work with them, but warned how competitive this relatively young industry was.
So I decided to write a quick article on how to market tough or spam filled industries.
3 Keys to Successful Marketing in these industries
1.) Clear Visuals & Sales Funnels
The issue with quite a lot of these companies is they are what are known as “pop up profiters” this means individuals will set up a basic website, buy some low quality stock and aim to sell out as quickly as profitable, using unethical and sometimes illegal marketing techniques, just to make a quick buck in a highly lucrative market.
Your goal as a business owner is to do the exact opposite, you want to position yourself or your brand as the expert in the field or the company that will be around forever! Repeat customers are the most profitable to your business and hence these are the ones you want to concentrate your marketing on, but before you get started you have to have a clear idea of your sales funnel and the aim for the business itself, without that you may as well forget any marketing you do.
2.) Referrals & Repeat Customers
The 2 greatest methods to marketing a competitive industry is to get other people to do it for you. The best way to do this is to have your pre-existing customers do it for you. Note you can also use an affiliate network but it gets slightly more complicated when you invest in creating one of those. So for now we will stick with referrals. Offer an individual a 20-30% profit when they refer someone, so you are essentially saying they will make 20% on whatever the person orders! Free leads so you can take the slight hit on the profit margin as it is only the first sale value too.
The other aspect we want to look at is repeat customers, as mentioned in point 1, we want to get customers for life not just one time purchases. The best way to do this is reward programmes. Offer X number of points which can be converted to products. This is the easiest way to motivate an individual to sign up and commit to your company over a competitor as they feel they will get prizes or at least discounts in the future!
3.) High end Paid Marketing
I say high end as you don’t want to look like every other TDH when it comes to these industries. Step one is you want to find where your target audience hangs out and go directly to them with an offer they can’t refuse, usually money but it can also be a revenue share % too.
But the next thing is important, you want to set up retargeting for anyone who visits your website. This will help conversions drastically and instead of only 2-5% of your market buying, you will be likely to get nearer 8-15% who come back and finish the checkout process!