HOW'S YOUR CUSTOMER DATABASE?

It is proven that the best qualified leads don’t come from cold calling but from having a strong referral system and up-to-date customer database. Increasing (or sometimes even maintaining) certain sales targets can be very time consuming, and if not managed properly, can be painfully expensive.

The standard equation of; “You have to have 100 conversations, to generate the interest of ten and the sale of one” can easily increase from ten to sixty and one to six if the leads are from a database of solid clients with a first-rate referral system in place.

A great customer base is built. Some may weigh in that it can be bought but buying any list takes capital dollars to purchase as well as time and money to “work it”. Remember you have to scrub any new list to determine the status of every single contact.

What’s my advice? Build it yourself! Have a plan, set targets, then track & measure results. When offering incentives, never make your clients feel like they are a part of a mass marketing cog and always provide great service and a memorable experience. Never forget that follow-up with all customers in a timely fashion is critical. Happy (not hesitant) customers will gladly refer their friends.

These tips may seem simple but with the right strategy and marketing plan your business revenues will grow. Never lose sight that growing any business is really hard work.

ENTERING into ELECTRONIC MARKETING.....

E-mail & electronic newsletter campaigns are a proven way to not only stay in touch with existing clients, but an excellent way to recruit new ones.

One word of warning; just because they can be inexpensive (in comparison to some other options) DO NOT ignore your basic direct marketing guidelines.

Your first impression in this medium is an important one, so be sure you plan your approach properly and always test your message before sending it to your contact lists.

Ensure you have a controlled message that isn't too overwhelming (keep your eye on file size) and remember more isn’t always better… it’s generally just more. Also, for the best results, it is critical that you make sure your sales team does the proper follow up!

The electronic medium is really no different than any other advertising medium you might spend money in. Always track any/all results and trends that may appear to ensure your money will be very well spent.

HOW DO YOU GUARANTEE RESULTS?

Million Dollar Question:
What is the easiest approach to ensure results when marketing? (Truth be told - it is a combination of things.)

1. Research and testing are critical.
Research and testing remove any guessing and leads your business directly to what your customer/client want. Always make sure to do the due diligence when it comes to testing different offers, prices and packages & always work toward getting your target markets input before spending big dollars on any advertising campaign.

2. FOCUS is next in line.
Statistics show most businesses today rarely interact with their customer/client base to try and understand their needs. Most business owners confidently claim they know what their customers really want but when I ask for specifics - they admit they have 'never really asked them?’ My suggestion is to take a quarterly survey. Find the need and fill it – then watch your sales climb.

3. Theory - follow your stats.
Failing to re-engage your current customer base, over time, will be detrimental to your profitability. Did you know that 80% of your business comes from existing customers and 20% comes from new customers? Did you know it could cost you 5 times the expense to sell to a new customer than to sell to an existing customer? Make sure you take the time to ensure you remain your customers habit... constantly up-sell internal services and always keep your client base well informed of any/all opportunities.

What's the best way to guarantee results? Make sure you always have happy customers willing to spend money with you!