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.
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.
DMNews ran a great article titled “When marketing, travel through the four dimensions of time” by Paul Mandeville. They say “timing is everything”, it may not be everything but it sure can play a big part in the success of marketing efforts.
Mr. Mandeville suggests that in a marketing campaign timing has four facets:
Timing (Recency)– the nearness of a message to a customer event that triggers that message, for example, sending a coupon for related accessories within 3 days of purchase.
Frequency – the number of times you choose to send a similarly themed messages before you stop further attempts, for example customers should receive three messages from you within the first month of purchase and at least one message every three months for the first year or two after that trigger purchase.
Pacing – the amount of time between messages of a similar theme, for example sent the first message within 72 hours, and if no reply, send message #2 seven days after purchase, and if still no reply, send final message #3 ten days after purchase.
Sequencing – the act of coordinated, separate but related content.
The article stated that financial services and retail firms have been able to achieve a double digit lift in response, without increasing their discount offers, simply by using timing to their advantage. You can do the same. Direct mail is a great way to implement this strategy or include it as a part of your marketing that speaks directly to your customer when they want to hear from you.