With today’s economy being what it is, you should reevaluate where and how your Marketing dollars are being used.
Here are some ideas to consider:
- Market to your existing customers. As you all know, it costs a great deal less to market to your existing customers than to constantly go after new ones. You definitely have to seek out new customers, but your existing customers are easier to reach and to build profits from at a quicker pace. If you direct your efforts and money towards your existing customers, who already love you, you will get a greater and faster return on your marketing dollar.
- Communicate with your customers. I have found that the number one reason existing customers don’t return to do business with you is not because they don’t like you. It is because you let them forget about you. When I had my companies, I made it a point to consistently communicate with my customers.
It always amazed me whenever I asked my audience, at the various seminars I did, how may of them consistently sent out a direct mail piece to their existing customers; over 90% of them said perhaps once a year. You must send out communications to your customers at least 6 times a year. I prefer more than 12 times a year. In fact it should be as often as needed to convince them to visit you more often and/or purchase your product or services.
You work very hard to get your customers, so contact them often. Increase the frequency of mail to them or call them more often. You can create a data base of their emails, and email them often with offers and ways in which you can help them.
Again, to accomplish this you must collect the contact information of your existing customers, prospective customers, and even people you meet a various get-togethers, and then communicate with them consistently.
- Reevaluate your advertising. The size of your ad doesn’t necessarily mean that you will receive better results. The size of your ad also doesn’t produce as much consumer confidence that consistently running an ad does.
By running smaller, less expensive, but consistent advertising you can become more effective in the long run. One of the keys to advertising success is repetition. A one time shot with a large ad will not create as many customers as a smaller ad that is viewed over a period of time
- For those of you who have invested in my report, “How To Save Up To 80% On Your Advertising Costs,” you have found out that most magazines and newspapers will cut their price from their regular rate cards if you only ask them to. Business is very difficult for them these days because of the economy, and some will do anything to save an existing customer or win over a new customer, by reducing their rates.
Look at advertiser’s rate cards as a guide to negotiate a great price and to seek out FREE media exposure. Also, if you are going to advertise with them, make sure that they allow you to create a feature story about you and your business.
Remember that when there is a feature story about you, the reader will think of you as the expert.
I hope these few ideas will help you to survive this recession and will help you to live the lifestyle you desire.