Partnership Marketing – Digital Xpress

Your Competition Wants Your Customers

October 22, 2013/in Appreciation Marketing, Business Growth, Competitive Advantage, Customer Service, Declining Sales, Direct Mail, Emotional Marketing., Entrepreneurs, Entrepreneurship, Foot in the Door, Georgia, Guerrilla Marketing, Lead Generation, Lifetime Marketing, Loyalty Marketing, Marketing, Master in your field, Network Marketing, Networking, Partnership Marketing, printing, Printing Norcross, Quality Printng, Sales, Sales Process, Sales Strategy, Unique Selling Proposition, Value Proposition/by Ketan Shah

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.

Direct Mail Is Alive and Well, Thank You

October 1, 2013/in Business cards, Business Growth, Catalogs, Content Marketing, Customer Service, Customer Value, Direct Mail, Entrepreneurs, Entrepreneurship, Flyers, Foot in the Door, Georgia, Lead Generation, Marketing, Network Marketing, Networking, Partnership Marketing, printing, Printing Norcross, Productivity, Quality Printng, Sales, Sales Process, Sales Strategy, Value Proposition/by Ketan Shah

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.

Please Don’t Ignore Me

May 10, 2013/in Business cards, Business Growth, Customer Service, Customer Value, Direct Mail, First Impressions, Flyers, Lifetime Marketing, Loyalty Marketing, Marketing, Partnership Marketing, printing, Quality Printng, Sales/by Ketan Shah

The bulk of marketing budgets is often reserved for acquiring new customers. Much energy, time, and money is spent pursuing prospects that have a marginally small chance of ever becoming a customer. There’s a flaw with this strategy.

The simplest and most effective way to boost your bottom line profits is to remember who brought you where you are today: your existing customers. If you aren’t consistently advertising and staying in touch with current and past clients, you’re missing out on the best way to continually grow your business.

For every month that goes by without making contact with your past and existing customer base, you’ll lose up to ten percent of the clients you’ve worked so hard to acquire. Retaining clients is therefore an extremely important business growth strategy.

Selling your services to new customers means earning their trust. It takes hard work to build this trust. When a prospect becomes a customer, you have only begun to earn their trust. You cannot expect to maintain that trust without consistent, frequent contact that adds some value for the customer.

One of the best ways to maintain and build that trust is to communicate regularly via a newsletter. An effective newsletter has a mix of about 80% infotainment (fun and informative content that may not have anything to do with your particular industry) and 20% information about your business or industry.

The recent trend of companies switching to all digital email newsletters is now reversing with the realization that actually getting the emails opened and read is far more difficult than many were led to believe. Also many survey respondents favor a printed newsletter that they can hold versus one more email that clutters their already overfilled inbox.

Sure, email newsletters are inexpensive and require no postage, but there is a cost involved when the recipients never see or open the messages. By contrast, a printed newsletter is still one of the most powerful and cost-effective ways to stay in front of your customers without overtly selling them.

The Lifetime Value of a Client

Perhaps one of the reasons past clients are ignored is because some business owners don’t really know the lifetime value of a client. An existing client who is treated right, is not ignored, and is communicated with on a regular basis will not only return to do more business themselves but will also refer your company to those around them. Therefore the actual lifetime value is often five, ten, twenty (or even more) times the value of an initial sale.

That’s the power of relationship marketing and the reason why your existing customers should get the bulk of your marketing budget. If you treat your existing customers well and communicate with them on a regular basis, you may not need to chase as many prospects as you have in the past.

To learn more about defining and understanding your lifetime customer value, please visit: http://hbsp.harvard.edu/multimedia/flashtools/cltv/ (requires Flash).

The Power of Partnerships

April 2, 2013/in Business cards, Business Growth, Direct Mail, Marketing, Partnership Marketing, printing, Quality Printng, Sales/by Ketan Shah

If you’re looking for a creative way to grow and create new business opportunities, you may want to consider a marketing partnership. By bringing two (or more) complementary companies together, businesses can tap into audiences they may not normally reach, providing exponential marketing exposure and increasing their customer base.

When considering a marketing partnership, it’s important to choose a company that aligns with your product quality, reputation, and overall business strategy. By partnering with a company that has a high reputation of providing quality products or services, you can not only increase your perceived value, but also provide customers with additional reasons to purchase from you.

Rather than joining forces on all aspects of marketing, many businesses create a marketing partnership that is targeted to a specific market sector or audience. They typically maintain their individual identities and continue to sell outside the partnership.

One example of a potential marketing partnership might involve a financial institution partnering with a real estate agent and/or title company to target home buyers in their area. By combining forces, both partners can offer potential customers a smoother path to home ownership.

If you need ideas for creating a joint direct mail marketing promo that can help you reach into new markets, build relationships, and increase sales, give us a call today.