Marketing Strategy That Sells – Build Your Database

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Do you have a database of your past, current and prospective customers? Are you recording, monitoring and analysing your customer database? Building a database and studying and reviewing your customers’ records and business relationship with you is one marketing strategy that is not well-utilised.

Do you know who your customers are? Do you have a record of what products or services they regularly purchase? When was their last purchase? What are the purchases they made?  What is the frequency of their purchase? Can you tell whether you’re dealing with a current or past customer? 

Answering the questions above can give you vital information that can boost your business to heights never dreamt of. 

Consider your prospective customers. Have you thought about developing a customer profile that captures your best customers? Know who to target and market your products or services and direct your marketing efforts that way. List them down and plan out a strategy on reaching out to them on a regular basis. 

Know your customers from the past, your current customer and your prospective customer in the future. By knowing exactly whom you have dealt with in the past, who you currently deal with, and who you would like to deal with in the future can dramatically change your business, your profits and your bottom line. 

If you’re not currently using a database to keep track of these and other information of your customers, it’s not too late to start building one. This database can be the gateway to your exponential profits! 

Targeting your marketing efforts to the right people can make or break your entire advertising or marketing campaign. And if you’re a small business, you can’t afford to have that happen too many times. It’ll drive you right out of business! 

Make sure to stay in touch with your past, current and prospective customers, this is one of the best marketing strategies you can do. Do some simple getting-in-touch acts such as:

  • Sending greeting cards on special occasions or holidays
  • Sending a note long time customers
  • Sending a questionnaire or survey
  • Inviting customers to launches and promos
  • Getting customer feedbacks and letting them know their opinion counts
  • Sending newsletters and updates

Do more than the usual to make your customers feel important. Make your current customers feel special, make your past customers feel missed, and make your prospective customers feel wanted.

Build your database and use it to improve customer relationship and increase your sales.

By |6:09 am|Marketing Help|Comments Off

How To Improve Sales

Failure To Monitor Your Results

 

Results. That’s all that matter in business. Results.

 

Any promotion that’s worth putting your time, money and effort into, is worth measuring how well it performs. The only way you can know whether the promotion is worth running again or what you may need to do to change or tweak it to make it more effective  is by knowing the results the marketing effort produced. Did you get more prospects? Did they convert to more customers?

 

It’s astounding how many business owners don’t understand this simple concept.

 

You’ll let the local newspaper advertising salesperson sell you an ad and layout the ad, because they are “the experts” then let them run it with no way of knowing whether or not anyone called or a customer was obtained as a result of the ad. These “institutional” bran type agencies love you, because you have no idea whether the investment has worked, and they are in no way accountable, and they will keep selling you more and more, because “you have to advertise regularly” to be effective. Ha!

 

The ad has no accountability or measurability.  So next week or next month, they convince you to run it again and you continue to complain about how bad business is.

 

As a smart business person, you should never consider running an ad or executing a mailing campaign or promotion without having some type of response mechanism to measure the results. However, it happens every day. And millions of dollars are wasted because of it. If you want grow your business, you need to be smarter.

 

Don’t fall into the trap of thinking your ads will create some kind of magical awareness of your product or service. Every one of your ads and mailings and sales promotions must have a definite, targeted purpose. And EVERY How To Improve Sales must be measured to see that it does achieve that purpose.

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Here’s a simple 4-step system you can set up to measure the results of every advertising or marketing tactic you implement to promote your business:

 

1. Put together an “Advertising and Promotion Results Analysis”book. A simple 2 ring binder works well for this.

2. On the inside of the binder, insert a few clear plastic page protectors.

3. Print out a few copies of the “Advertising and Promotion Results Analysisform shown in Part 2 of Mistake #2, and insert one in each of the page protectors facing the back of the binder.

 

Every time you run an ad or Improve sales, put a copy of that ad or promotion in one of the page protectors facing the opposite direction of the Analysis form. If you do this every time you run an advertisement, or promote your business and you carefully analyse the results, you’ll quickly see which promotions are working, which ones need tweaking to improve, and which you should toss out ASAP.

 

As your binder grows, make three additional binders.

 

In one binder place all your “A” ads and sales letters – the ads that pulled the best.

 

In another binder, place the ads and letters that produced marginal results, or at least broke even; you could experiment with these in the future. And in the third binder, put all the “losers.” The ads and letters that absolutely bombed, which you want to stay away from in future.

 

This way when you are ready to do another Improve sales or want to boost sales you’ll know which ads or letters you can depend on to model the next promotion.

By |7:17 am|Marketing|Comments Off

Customer Retention

Failure To Let Your Prospects And Customers Know The Unique Benefits They Get From Doing Business With You And Not Your Competitors.

 

“Why should I do business with you, instead of all the other options I have?”is a question that goes through your prospect’s minds before they choose to do business with you, and through each of your customer’s minds before they return to buy from you again.

 

And, it’s a question you must take the time to formulate an answer to. Without an answer, you become like every other business who sells the same products or services. It doesn’t matter what is being offered, your prospects and customers can go almost anywhere and find the exact same (or very similar) products or services offered for the same price, or perhaps for even less money than what you charge.

 

Think about your own situation. Why do you do shop at the same stores or eat at the same restaurants over and over? It may not be one single thing that influences you, but rather a combination of several factors. It’s likely the businesses you continue to support give you something special. Something unique. Something you just can’t get anywhere else. It’s that uniqueness that keeps you coming back over and over again and which build customer loyalty and customer retention.

 

If you want people to do business with you rather than your competition Customer retention , it’s imperative you have something to offer that your competition doesn’t have. Preferably something your competition can’t offer that sets you and your products or services apart from everyone else in your type of business.

 

That’s what’s known as your Unique Competitive Advantage, or UCA often referred to as a “USP” (Unique Selling Proposition),

 

No matter what you choose to use as your unique factor, it’s one of the most critical, yet most often overlooked marketing tools in business today.

 

Without a clearly defined and unique factor that differentiates you or sets you apart from everyone else who offers the same (or similar) products or services with Customer retention, your business will be no different than any other your clients or prospects will encounter, and there will be no reason for them to do business with you rather than your competitors, other than price. And the last thing you want in business is to only exist because you have the lowest price.

By |7:04 am|Customer Retention|Comments Off