Limited Marketing Budget? Here are 3 Secrets for Small and Medium Manufacturing Companies to Increase
So how did we increase the revenues for the flagship product of a small Midwest manufacturing firm by nearly 3x within 19 months without spending any money on external advertising? You might be tempted to guess we found a new “viral” web-marketing strategy, but in fact, we did not even use the internet. We focused on distributors.
Revenue growth is a company’s life blood. However, successful revenue growth often comes with increased advertising expenditures. In the article below, we will give you 3 secrets to grow revenues without spending more money on external advertising.
#1. Study the distributors of your competitors.
Getting one new distributor can dramatically improve your business! Distributors are the fastest way to increase sales without significant effort. Depending on your industry, the competition for distributors can be fierce. Among those distributors, the competition can be especially ferocious. Some of them might be seeking ways to differentiate themselves from the crowd. You can grow your revenues by identifying the distributors that fall into this category and working with them to tailor a solution that will help them separate themselves from competitors in their market.
#2. Build a regular communication channel with your distributors.
Every relationship needs nourishment for success. Among the distributors that you already have, taking the time to get to know them and their markets better can dramatically impact your business. Schedule regular calls and visits to ensure you get a pulse for their business and how your products can best serve them. You might want to also provide regular product demonstrations as their staff turns over or generate updated marketing materials to help them drive the sales of your products over other similar offerings that they retail.
#3. Do NOT publish your distributors list.
It’s nice to be able to tell your prospective customers where they can get your products… but why would you want to tell your competitors where YOU SELL your products? Tell your prospective customers that your products are available through distributors and they should contact you for the nearest location. Offering upfront information about your distributors is like opening up your store and replacing the price tag with a “FREE” sign!
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