Technology is constantly changing and so has the way a business can market. Even with these changes there are two basic ways a business should focus their marketing.
Marketing to Existing Customers: This is when you focus your efforts on people who currently make purchases from you. LL Bean does an excellent job at this. Once you order from them, they will include you on their email distribution list to alert you of sales or new items. They even send out a small seasonal catalog for clothing, home goods, and outdoor supplies.
The key is to create loyalty and to help your customers think of your business for a variety of their needs, unlike the old expression, “Out of sight, out of mind,” which is what you do not want to happen. Retaining existing customers should be a priority for all businesses, as it is much costlier to acquire a new customer.
Marketing to New Customers: There are numerous methods to bring in new customers, including referrals and word of mouth from existing customers, Internet marketing, direct marketing, and networking/rainmaking. No matter which method you choose you need to know and do the following:
– Target Market: You need to spend your efforts on potential customers who are ready, willing, and able to make purchases from you, otherwise nothing else matters. Determine who these customers are and spend your time and money there.
– Communicate Your Offer: What are you offering that will entice potential customers? Is it a solution to a problem? Free shipping and returns? Top-notch service?
– Follow-Up & Serve: This may sound like a given, but if you are offering 24 hour emergency plumbing services, and do not answer the phone, then you are probably losing potential customers.
Marketing also does not have to be expensive or complex. It just has to be well-thought out to make it as effective as possible.