It’s a spooky season this time of year. Just when you think your marketing strategy is going great, something scary pops its head through a door! It’s pretty frightening to think that you might have done one a marketing no-no, but never fear. There is always a happy ending. Marketing can be a crazy labyrinth to conquer. However, as long as you avoid these traps, you are sure to have a strong and successful marketing strategy.
The Rule of 80/20
Have you heard of the rule 80/20? This is an important marketing principle. This rule, or principal, states that 80% of a company’s profits come from 20% of their customers. Direct your efforts in your marketing strategy to the best 20% of your customers. You can find out who your best patrons are by collecting data, such as frequent buyers and those who make large purchases. Once you find them, treat them like the royalty they are. Show your appreciation with discounts, free shipping, or a loyalty points system.
Don’t Promote, but Engage with Email
We stress how important it is to have a strong email newsletter strategy. You may be using email to promote your products. However, try using email to engage your customer base. An engaging email performs better than one just promoting a service or product. Utilize the art of storytelling in your next newsletter. Try to make your subject line more powerful. Select the option to personalize each email with the readers first name (if applicable).
Look to Those Who are Already Your Customer
There is a common misconception that looking for new customers is the way to profits. We cannot stress how false this is. What out for this scary lurker in the corner! The most cost-effective and time-saving method to gain profits is to market to your loyal, repeat customers. They are more likely to make a purchase from you than a new one. Did you know that 65% of a company’s business comes from repeat customers? Obviously, you want new customers. But, while you gain new loyal patrons, don’t forget about the ones who keep your business successful. A great way to market to them is the upsell/cross-selling method.
How Good is Your Message?
Churning out a quick message to your top 20% and getting it out may seem like a great idea, but it most likely won’t get you the results you are looking for. Take time to write, read, reread, and craft your message. Ask yourself “Will my customers believe in this message?” If not, you need to go back and make sure it’s the best it can be. A well-written message containing the values and beliefs of your customer base is the best way to win them over.
Marketing takes time and research to get right. Make sure you are finding your top customers, create a meaningful message to engage them, and treat them like the amazing people they are. They are supporting your business and believe in your product. Having a great marketing strategy from the get go takes you to the happy ending.
What were some mistakes you made, and how did you correct them? Leave us a comment below!