If you value the relationship you have with your customers then you will just love this idea. In fact this idea has the potential to grow your customer base, drive sales like you have not seen for a long time and most importantly maximise the return from your traditional advertising spend like you have never seen.
Investing in our business as business owners is normal. Whether you spend a few hundred dollars a year on advertising, or 10s of thousands it does not matter, we all want the best possible return from the outlay. However what do I hear when I speak to business owners about their advertising? What should I spend my advertising budget on when I just do not know what is going to work? Taking advertisements in online directories or yellow pages is fraught and are people still reading the local paper?
So here’s a true story. It’s not mine but really gets to the crux of this article. I will keep the client’s details private.
To truly maximise the return from their direct marketing, the client felt they needed to increase the size of their direct marketing email database. Being able to communicate with people who were genuinely interested in their product was a top priority. An email database in excess of 50,000 people was their goal.
To achieve the goal looked tough at first, however the brief was simple. So a competition was developed where people could win a complete outdoor entertainment area including, furniture, Barbeque and more. A celebrity cook came with the prize and he/she would cook a meal for friends and family. (Something most people would want)
A web page was developed where people would enter the competition, using smart internet marketing techniques and autoresponders. They could also enter in store as well as by SMS. The promotion was advertised using traditional media, TV, radio, magazines as well as online (banner adverts etc) all pointing people to where they could enter.
The result was overwhelming and most of it could be put down to a great offer (the prize that everyone wanted as well as combining both offline and online media to drive the promotion. By combining the two the client was able to build a database in excess of 50,000 email addresses. The client was very excited, they achieved additional free media coverage that they were not expecting and they also achieved sales growth in their many stores.
So what did we learn. It costs approx $50 to maintain a client and $350 approx to get a new one. If you can you should be focusing most of your attention on bringing your old customers back. It’s not that hard to get peoples email address and mobile phone number so you can market to them in the future, you just have to remember to ask. If you want to get the best return from your advertising dollar you need to be marketing directly to your customers.
Remember it easier and cheaper to bring a current customer back to your business.
That’s how you can double, triple, quadruple the return from your traditional media spend.