Still not fully satisfied with the results of your marketing campaigns? Whether you’re seeing the same tried-and-true responses or are wondering why you’re not getting more out of your efforts, both of these situations indicate that your marketing is stuck in neutral.
While consistency proves that you’ve got the basics down and are able to effectively reach your targets, it can lead to complacency that limits your ability to attain higher, more profitable results.
Likewise, if your sweat equity isn’t paying off and you can’t figure out why, you may be setting yourself up to be a victim of the law of diminishing returns. This is when no matter how much effort you put in, the results continue to decline.
While both of these scenarios seem like very different business problems, they’re actually more alike than they initially appear. Very often, at the heart of these issues is too much emphasis on pushing products and not enough time dedicated to cultivating customer relationships.
The impact may not be apparent when you have a steady flow of customers and a decent response rate on your marketing campaigns. However, there is a danger lurking. It’s very important to remember that it’s your long-standing, loyal customers who will prove to be most profitable to your bottom line–both in terms of steady revenue and word-of-mouth marketing that brings in new customers.
To determine if your marketing is stuck in neutral, ask yourself these questions:
Are your marketing programs based on customer feedback?
Are the ideas fresh and timely or are they recycled?
Do subgroups of customers receive targeted communications or is there a one-size-fits-all approach to your email, newsletters or social media messages?
If you think you’ve fallen into a bit of a marketing malaise or are frustrated you’re not reaching a higher level in customer acquisition and engagement, consider the following tactics to develop stronger ties to your customers.
Conduct informal and formal surveys asking for specific feedback on what works, what doesn’t, and why they choose to do business with you. Offer incentives for their participation.
Surprise your most frequent or best customers with a reward.
Determine the top three products or services that draw in customers and make them the center of your next campaign by offering steep discounts.
Slice and dice your customer list based on their interests and past purchases and customize special offers based on this information.
Always include relevant information in your offers. This includes tips, news briefs and little known facts. Otherwise, straight-up offers tend to be ignored.
While building your customer base is a steady process, you can accelerate the efforts and elevate the returns on your marketing campaigns through some shifts in your focus.