If you’re a small business, you may be wondering if you should invest in a pull marketing strategy or not. You should as it can be very useful. Below, we’ll be discussing how so. If curious why, read ahead.
If you were to invest in a push strategy, you’d send stocks of your good out to retailers. The retailers would hold them until they’re ready to be sold.
This can be very dangerous as you may not have advertised the products properly, not pushing it out to enough people. This results in the stocks not be touched, leaving the retailer in a sticky situation.
If the stocks aren’t being sold, you’re building a bad name for yourself as the retailer won’t want to work with you in the future. Not just this, but word of mouth will spread, leading other retailers to not want to distribute your goods as well.
This isn’t the case with a pull marketing strategy as the customers come to you, then you provide appropriate stocks.
Ease of Mind
If your business is new, you’re constantly worrying about it. If you decide to launch your products through a push strategy, you’ll be wracking your head the whole day as you’ll constantly be worrying whether your sales will be good or not as goods have already been stocked.
This will make your life hell, which is why you won’t be able to focus on other aspects of your business.
That being said, you need to read up on push and pull marketing strategies and see if the ease of mind is really worth it.
You’re Saving Money
As mentioned, if you’ve put out stocks and not advertised properly, they’ll sit in the retailer’s store collecting dust. This is horrible for you as you’re not making any money.
In fact, you’re losing money as you may have manufactured in excess– not by judging the demand as you would’ve with a pull marketing strategy.
You Will Make a Profit
If you invest in a pull strategy, you’re bound to make money. By hiring an appropriate marketer, you’re getting as many people riled up about your launch as possible. This would lead to a lot of demand of the good. So, you can manufacture and sell it accordingly.
This isn’t the case with a push strategy as even if you sell, you may still be running a loss.
It’s Easy to Do
To advertise according to a pull strategy, you don’t have to wrack your head. The campaigns you put out don’t have to be extensive.
This isn’t the case with a push strategy as you need to go all out as if you don’t, your product stocks are compromised. So you have to look for the best of the best marketers, taking a lot of time off your schedule.
Not only is it more time consuming, but to do work with them, you’re spending a lot more money as you need to produce elaborate campaigns.
With the above information in consideration, it is easy to see why a pull marketing strategy is the best option if you’re looking to launch products.