Five strategies to ensure the LED lighting industry stays strong during the off-season
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As the saying goes, "Poverty leads to change, and change leads to success.". During the off-season in the LED lighting industry, actively seeking change allows companies to not only avoid the off-season, but also do better than the peak season. We can consider the following five aspects:
Strategy 1: Transfer the market
When the so-called "off-season" arrives, market transfer is carried out to find suitable markets and shift the sales focus.
Strategy 2: Expand innovative channels
The 28% rule refers to 20% of customers determining 80% of sales, and this is also true in the lighting industry. Many LED lighting companies focus their work on customers such as general distributors or first tier distributors. However, the primary market has become saturated, and it is difficult for branded products to make further breakthroughs. Therefore, new marketing channels can be explored to find new growth points. Such as developing secondary merchants and terminal retail points, or entering second and third tier markets.
Strategy 3: Promote new products
By utilizing the existing sales team and sales network to promote some popular new products, LED companies can only avoid the off-season if they choose the right products.
Strategy 4: Increase promotional efforts
Increase promotion efforts for key markets and key customers with wide sales channels and comprehensive marketing networks. Increase popularity through promotional activities, where popularity leads to wealth; Increase value-added services to stimulate consumption. When promoting, it is necessary to increase the promotion efforts of high-end products and increase the proportion of mid to high end products in total sales, which is conducive to reducing sales costs and improving sales profitability.
Strategy 5: Timely internal adjustments within the enterprise
The off-season is a good time for companies to complete internal adjustments. LED enterprises should focus on both hardware and software, while improving corporate systems and cultural construction, and organizing systematic training for sales personnel to enhance their professional knowledge and market management capabilities.
