Your Competition Wants Your Customers

/in , , , , , , , , , , , , , , , , , , , , , , , , , , , /by

78429767

Competition is a part of business life. Some would argue that competition forces businesses to strive to get better at what they do for the fear of losing customers to rivals. Losing a few customers periodically is inevitable. However, losing too many (especially your best customers) must be avoided at all costs.

For most businesses, the top 20% of their customers account for 80% (or more) of their profits. While much thought and strategy typically go into bringing in new customers, not enough is spent on retaining existing customers. That’s where the real gold lies.

It may be a little uncomfortable to think that some of your best customers might be looking at making a change, but it’s something you must consider if you want to avoid having it become a reality. Everyone talks about taking care of their customers, but in many instances that’s a phrase not truly backed up with action. To build a fence around your customers and keep them far away from the prying arms of your competitors, you mus truly care, protect, and guide them.

Gather customer feedback on an ongoing basis.

Most businesses put a lot of hard work into getting a new customer. But after they become a customer, little effort is put into nurturing that relationship. A customer should never be taken for granted.

It’s easy to get wrapped up in the day-to-day operation of your business and lose touch with what’s happening outside your doors in the marketplace. Phone calls and emails to customers can be a great way to communicate and stay connected. But to do it on a large scale can be unrealistic. Informative company newsletters and surveys can help keep your customers up-to-date and give them a way to express their needs and concerns. These efforts can provide an early warning system to catch a customer jumping ship before it happens.

Tell them what you do.

Your competitors will do anything to steal your customers, including promising the moon. You know that some of these are false claims or teasers to get their foot in the door. Some of your customers may not know that. Your job is not only to provide a great product and service but also to continually remind customers about the value you provide that your competitors can’t match. If you don’t tell them, no one else will either.

Informing your customers through educational marketing content is a powerful way to keep them engaged while differentiating your company as one that truly cares about their success (not just your own).

Where are the weaknesses?

To help plug the holes in your business, start thinking about things from your competitors’ point of view. After all, they’re always looking for any weaknesses they can exploit, so you should, too. That way, you can shore up your weak spots before they get out of hand and, in the process, strengthen your position in the marketplace.

To discover your weaknesses, talk with your customers. Ask them about the areas you could improve. Stay up-to-date with industry trends that could create a possible gap in your defenses, too. You can’t buy every bit of technology as soon as it hits the market, but you can stay informed so you can address concerns with your customers when they arise. Sometimes the best defense is a good offense. Be proactive in your customer communication.

“There is only one boss: the customer. And he can fire everybody in the company, from the chairman on down, simply by spending his money somewhere else.” ~ Sam Walton, Wal-Mart

Customer retention starts with providing great service and value. Getting to the top is hard work, but staying there requires just as much effort. Being aware of the competition while shoring up the weak areas in your business can go a long way in helping keep your customers coming back.

Monopolies and the lack of competition aren’t in anyone’s best interest. Keeping your best customers satisfied is. Use competition as a motivating factor to continually improve your services. Communicating with and showing appreciation for your customers will give you an invisible force field to keep the competition out of your backyard.

Is Guerrilla Marketing Dead?

/in , , , , , , , , , , , , , /by

stk79738cor

You may think guerrilla marketing is dead, but really it’s evolved with the times. If you haven’t done the same, then you need to take a leap forward to get the most impact from your marketing dollars.
/

<strong>What is Guerrilla Marketing?</strong>
Jay Conrad Levinson coined the term guerrilla marketing in 1984 with the release of his book, <em>Guerrilla Advertising.</em> In military terms, guerrilla refers to an unconventional form of warfare used by armed civilians, often against a force with superior numbers and weaponry. It relies on surprise, sabotage, and the ability to hide among a crowd. Guerrilla marketing is a take on advertising that uses similar tactics to gain attention.

The primary advantage of guerrilla marketing is its ability to increase a marketer’s impact using less costly resources than traditional advertising. It relies on high energy, imagination, and ingenuity. The idea is to take your customers by surprise, make a lasting impression, and create the kind of buzz that gets people talking.

The following two examples will help you wrap your mind around this strategy:

1) A new, locally based beverage company posted creative flyers on light poles and other public structures all around town. These flyers looked more like graffiti than advertising. Nobody even knew what it was all about, but the images stayed in their minds. After approximately three months of bombarding the public with these images, a billboard was displayed which used the same images, but also identified the company and the product. A brand was created before anyone knew what the brand was for. This is guerrilla marketing.

2) Compare this to a strategy used by a national research organization. They created billboards and took out full-page magazine ads that compared a neurological disorder with child abduction. These fundraising advertisements included the organization’s name and contact information. The shock factor backfired and complainants formed organized protests. This isn’t guerrilla marketing. It’s simply disrespectful and in poor taste. There is a difference.

<strong>How Has Guerrilla Marketing Evolved?</strong>
If you visit Jay’s site, you’ll see that guerrilla marketing is alive and well and evolving with the times. Guerrilla marketing is online — and you should be, too. Guerrilla marketing values permission-based marketing strategies — and you should, too. Guerrilla marketing uses popular culture to make an impression — and you should, too. Guerrilla marketing emphasizes ethical communications that are also creative and unique. And that’s exactly what you need!

When guerrilla marketing first became a hit, consumers were inundated with “professional” advertisements on television, radio, magazines, and newspapers. Now, it seems anywhere and everywhere we turn we encounter ads — they’re even in public restrooms! If we were numb before, we’re deadened now.

Advertising and “traditional” marketing just doesn’t have the impact it should for the dollars companies spend. And it’s no wonder when there’s so much advertising in so many places that it seems we never get a break from it. Guerrilla marketing breaks through all that clutter by being different. Not just different from your competitors, but different from its own past.

<strong>How Can You Use Guerrilla Marketing?</strong>
You can use guerrilla marketing to get the scattered attention of your target customers by becoming a bit more creative in the ways you reach out to them. Surprise them. Capture their interest. Offer something of real value.

Remember guerrilla warfare. You can’t rush success. Guerrillas knew that. Civilians battling a superior force with superior arms would spend years, decades, even generations fighting for what they believed in with whatever means they had. Take a lesson from them.

First, know that your business is worth fighting for. Second, you won’t win the success you want instantly. Third, you need to build your credibility with your target audience (i.e. the civilians you’re saving), not with your competitors (i.e. the superior force).

With these three things in mind, break out of the marketing box you’ve fallen into and prioritize communicating with your customers. Surprise them with how helpful, genuine, and trustworthy you can be. Sabotage the competition by offering a better value with better intentions. Don’t be afraid to blend in and mingle with your customers. After all, they are the only ones who really matter. Be one of them. Help them. Build a future with them.

This isn’t a battle for sovereignty or freedom. It’s a battle for the hearts and minds of your customers. The secret isn’t a parlor trick or a timely fad. You can’t take their trust. They have to give it to you. You have to earn your customers’ trust. If you can do that, then you can evolve into the future with them right by your side.

Direct Mail Is Alive and Well, Thank You

/in , , , , , , , , , , , , , , , , , , , , , , , , /by

78483580

Marketing fads come and go. Marketers today have a bewildering array of choices never seen before. Consequently, busy business owners don’t always know who to listen to in order to find what is working most effectively right now. Everyone can claim their systems and tools are the secret to a never-ending stream of prospects and customers.

Is Direct Mail Worth Exploring For Your Business?

Have you noticed that many of the Internet companies (like Google, among others) have been increasingly turning to direct mail to advertise their services? The reason is that old school direct mail worked long before the Internet and has been working for smart marketing in businesses all along. It just happened not to be the flavor of the day, thereby not getting much attention.

Now that the furor and publicity surrounding the “free” aspect of social media marketing has settled into the reality that free doesn’t necessarily equal real customers, smart marketers are looking for real campaigns that result in real customers.

Living Together in Harmony

Leveraging one proven marketing channel is great, but taking advantage of two or more is better. As effective as one channel may be, you limit the potential impact when using a single platform. With an integrated marketing strategy, you position yourself to maximize the real potential of your campaign.

The truth is that direct mail can still deliver real results when done correctly. In fact, direct mail works even better when coupled with email marketing and Internet marketing. When coupled with other channels, direct mail has the capacity to be even more targeted, personalized, and effective than when any of these channels are implemented alone.

To make this work and deliver results, it’s very important that the messaging and branding be consistent across all the channels you use. The logo, tag line, messaging, design, and colors used in one campaign should be reinforced across all media to generate stronger results and a more powerful impression. Consistency allows each campaign to feed off the other and deliver a bigger bang for the investment.

This is how big brands are able to leverage the power of multimedia messaging. Today, with the availability of affordable, short-run digital printing, you don’t need a large budget. It’s realistic and available for businesses of all sizes.

An example of a campaign that works extremely well is a new customer campaign. Nothing shows appreciation like a nicely designed, professional-looking direct mail piece delivered to your new customer soon after they become a client. People know that an email costs nothing to send but that a direct mail piece has a real cost.

Now you can follow that up with some informative emails to educate your new customer about how you can help them solve their problems. In the emails and direct mail pieces, ask your new customer to also connect with your brand on social media. Now you can further develop a bond with your new customer by sharing your values and core messages across all media.

Marketing success is about momentum. An integrated, multidimensional campaign, implemented consistently throughout the year, keeps the marketing ball rolling forward. This allows your business to be fresh on prospects’ minds when they’re ready to buy. The more consistent your brand, marketing message, and integrated approach, the better your results will be.

Your customers consume information in different ways. You can’t guess or assume one is better than another. Showing up in the physical mailbox, in their email inbox, and on the web assures that your brand is leaving no stone unturned. Having an integrated marketing strategy assures your business will be seen and heard. If just showing up is half the battle, then implementing this multidimensional approach is your call to action to make yourself ready for new customers on the business battlefield.