The retail sporting goods market in the United States continues to grow and grow. Between 2009 and 2014, the industry grew from $38 billion to $44 billion. Moreover, it isn’t just the industry’s growth that makes it an incredible business opportunity; it’s also the impressive profit margins. Research shows that the sporting goods market has gross profit margins close to 40 percent.
Motorsports equipment and apparel makes up a noteworthy chunk of the sporting goods market and can be a lucrative business endeavor. However, the key to capitalizing on motorsports equipment and apparel is hitting the nail on the head when it comes to marketing. The apparel industry in general is a challenge to break into – a full 53 percent of clothing lines actually fail after four years – and the motorsports apparel sector is no exception.
Wondering how your business can effectively market motorsports equipment and apparel? Well, it is all about attracting new customers and getting your current customers to spend more. Of course, that’s easier said than done, but if you keep the following tips and tricks in mind, you’re sure to put your business on the road to success.
Invest in Digital Marketing
You will need some kind of online store to effectively market and sell motorsports equipment and apparel.
“A business without an online marketplace misses too many opportunities,” Toby Nwazor explained in Entrepreneur. “E-commerce is growing rapidly as billions are spent monthly. And you have a lot to lose if you don’t move your business online, because the online commerce market is more important than a brick-and-mortar location.”
In addition, to get customers to your online store, you absolutely need to invest in some kind of digital marketing strategy covering key areas like social media marketing and SEO. One of the things you will need to do register for Google My Business so that your company shows up on Google Maps, searches, and Google+. You will also want to create a Google AdWords campaign to drive traffic to your site, carefully selecting keywords.
For more help with digital marketing, you might want to consider consulting the services of an integrated media company specializing in the motorsports sector, like 0-sixtymedia.
Connect with Local Bloggers, Facebook Groups, and Relevant Publications
Connecting with local bloggers, Facebook groups, and relevant publications is one of the easiest ways to increase the visibility of your motorsports equipment and apparel brand, which will, in turn, translate into more sales.
“Make sure you're aware of where people could be showing off your business or products, and consider whether you should be actively using these networks. Just monitoring mentions may be too passive,” Stephanie Meyers explained in Inc.
Social media – mainly Facebook groups – is particularly important. Facebook often has niche groups where people with the same interests congregate, and the social media site has a host of groups focused on motorsports equipment and apparel. It’s also critical to connect with blogs and online publications that might also be relevant in order to market your products and increase your brand’s exposure. It may even make sense to look into paid advertising options to maximize brand and product visibility.
Develop a Social Media Presence
You need to cultivate your brand’s presence on social media to market motorsports equipment and apparel effectively. You should be uploading compelling visual content to your social media pages, such as Facebook and Instagram, that shows off your brand’s personality and its products. The key here is to tell a story using content that resonates with your target customers.
“A good social media strategy doesn't just display products or push services. It targets a clear customer and tells a story that appeals to that person. Kate Spade's #ohnewyork tweets seem to be from a trendy, New York-obsessed fashionista who's gallery-hopping her way around the city (in Kate Spade clothing, naturally). Meanwhile, earlier this year, Christian Dior created a ‘Secret Garden - Versailles’ storyline, painting a luxurious picture of its new collection. The story, which included a video component and behind the scenes photos, was promoted across YouTube and other visual social media,” Meyers explained. “Think about who's using your product or brand. In a visual or real-time way, let your social media show how you're going to improve a specific area of their life.”
Make Sure Customers Can Easily Purchase Products
Getting customers onto your website is half of the battle. Once you have them there, you want to make sure that actually make a purchase. One of the things you can do boost the chances of a customer making a purchase is to make sure that the buying process on your website is quick, easy, and painless. The easier you make it for your customers to buy, the more likely it is for them to do so.
One thing you will want to do here is to make sure it is easy for your customers to make group buys. For example, if an entire motorsports team wants to purchase matching equipment, make sure that you have some kind of group discount available and ensure that all of the merchandise can be shipped and available at once. You might also want to consider making it easy for customers to customize team merchandise.
Ultimately, the easier it is for customers to make purchases, the higher your sales will be.
Launch a Mass Mailing Campaign
With the craze for online advertising, it is easy to forget about some of the more traditional marketing methods out there, like direct mailing. Believe it or not, mass mailing is pretty effective and isn’t expensive. You can typically get things delivered for around 17 cents per piece, and you can also target the people most likely to be interested in motorsports equipment and apparel.
The bottom line is that the sports apparel industry –particularly motorsports equipment and apparel – can present a lucrative business opportunity. The key is to develop an excellent marketing strategy to ensure you maximize sales, and the experts at 10twelve are here to help! Contact us today!