Many service companies are thought of as a commodity, that makes marketing difficult. Bail bond are the epitome of the commoditized service. While in other industries, customers purchasing decisions for a service rely a bit on price. When prices don’t fluctuate, as in loan guarantees, marketing is essential to the success of the service provider. Bondsmen throughout the country has its rates set by the state. In Nevada, a bond issuer is mandated to charge 15% of the bail sum or $50, whatever is more. The Las Vegas bail bonds picture is extremely competitive so efficiently marketing an item while having no pricing power is crucially essential.
In order to succeed in the bail business, one should develop a strong brand that differentiates them in the opposition. Standing out in the Las Vegas bail picture isn’t easy. There are over 250 Las Vegas loan lending listings listed in the yellow pages. When searching Google to get Las Vegas bail bonds, over 116, 000 results appear. An established Las Vegas bail bondsman has continued to record saying he spends over $10, 000 a month accepting collect telephone calls from inmates. To efficiently build a brand, a bail bondsman should clearly articulate their brand identity.
Just as Wal-Mart means Everyday Low Prices to their clients, a bail bonds business should craft the message it wants its clients to perceive? Do they want their clients to associate speed of posting a bond or compassion in working with clients? Establishing a client value proposition can be essential in creating a bondsman brand. This is could be looked at as the supplying a company strives to provide to each customer. Those are the actions which will shape clients perceptions of the brand. The kind of relationship a business has with its clients will drive or hurt sales. Listening and learning from client feedback will create strong bonds with those who purchase a service or product. To succeed in a commoditized business, a bondsman must build their brand.