BNET shared some stories about marketing tactics that independent bookstores are using to remain successful.
- Expand your reach to a national market.
- Go green.
- Create a store within a store.
- Open your doors to the community.
- Cultivate the next generation of customers.
- Get social.
One or more of these ideas could work for your business. We would love to help you implement them and put together a story to tell your customers about it. Maybe it is just the reason you have needed to mail a postcard out to your favorite customers?
If you’re looking for a reliable way to bring in revenue, the best place to start is by contacting your best customers.
Start by Segmenting Your Customer List
Your best customers are the most likely to purchase. Try dividing by sales or average order size. Analyzing your customers will identify strategic breaking points between groups. When you sort your customers’ sales activity, from highest to lowest and cumulate sales and calculate percentage of total sales, you may be surprised. The top customers will reliably respond to your offers.
We Miss You
“We Miss You” offers
Just because someone cancelled last year, or you have not heard from them in a while, doesn’t mean the sale is gone forever. Mail a “We want you back” offer. It will produce more sales than cold prospecting letters.
The Harvard Business Review Management Tip of the Day talked about how powerful an appropriate pat on the back can be with employees. They reminded us about an abundance of studies demonstrating the power of touch on everything from Rhesus monkeys to students in a classroom.
A pat on the back or a brief touch on the shoulder can express support and reassurance, making the recipient more willing to take risks and improving his decision making. Often times, contact can be more powerful than words. Use touch sparingly though, and don’t linger; it only takes a brief moment of contact; any longer can feel creepy.
This reinforces how powerful touch can be in other areas too, especially marketing. Can we help you to maintain a tactile relationship with your customers by sending something in the mail?
DMNews recently talked with experts about the best ways to combine and leverage customer data.
Elissa Tomasetti, VP of marketing, Financial Times, suggested that creating a single view of your customer will allow for better targeting.
Sal Pecoraro, VP of database marketing solutions, Infogroup, advised looking for trends in behavior to refine follow-up with customers.
Dino Michetti, GM and VP of client services, Epsilon, reminded marketers that current technology and innovation allow for real-time marketing and better data automation.
BNET posted an article in its leadership section titled, “What to Do in a Double-Dip Recession? Grow!” This may sound counter intuitive but it isn’t. There is evidence and research everywhere to support the notion that if you invest in gaining market share when your competitors are just trying to hang on, you will be in much better position when things do turn around.
We published these tips about Marketing in Tough Times a few years ago, they still seem very relevant today.
Smart Money Magazine published an article in the June issue with the title “Why Your Mailbox Runneth Over”. The article stated that charities still rely heavily on direct mail as a fund-raising tool. Nonprofits spent $1.8 billion on direct-mail solicitations in 2009.
Pasadena, Calif., marketing consultancy Russ Reid Co. found that fund-raising campaigns with 12 to 18 mailings a year were twice as profitable as those based on just three to six mailings. Donors are surprised when they receive a rapid request for another gift after making a first time donation. The tactic is effective because donors feel the strongest connection with a nonprofit immediately after their first donation.
We can help you put these findings to work for you in your profit or non-profit organization. Even if people say they only want to hear from you a few times a year, they may respond much more when you triple or quadruple the number of times your customers hear from you. What about a plan to send something to your customers very soon after their first purchase? Can we help you with a multichannel communication plan, integrating direct mail and email?