by Jim Hughes on October 19, 2009
With ROI as a constant focal point, business owners must implement strategies which accomplish multiple objectives. However how many have considered this approach with their customer retention and new business marketing efforts?
Combine Customer Retention and New Business Strategies
According to a recent study, 41% of small business owners said their top short-term priority is maintaining their current customers. While 26% say they are focused on growing their business. These statistics come from OPEN Small Business Monitor, the semi-annual survey of small business owners conducted by American Express.
That’s two-thirds of all small business owners surveyed that identified satisfying current customers and new business development as their top priorities. I must admit to being surprised the percentage isn’t higher. After all, not many priorities would be more important to any size business. The question that comes to mind though is how many companies actually combine these efforts under one strategic approach?
The Internet and Social Media platforms provide businesses with unique opportunities to combine customer retention efforts with business development initiatives. When a company provides relevant and compelling information, shares its expertise, exchanges ideas, offers solutions and answers questions to consumers it allows itself to build relationships with both current and potential customers.
Companies which maintain an active and evolving digital presence create a consultative approach with their current and potential customers – one that they actually learn to appreciate. It provides an opportunity to communicate with customers during all phases of the sales cycle – without being intrusive. When done properly, it’s an approach that provides transparency, gains credibility and builds trust with your target customers. It serves multiple needs for a business including the important areas of customer service and lead generation.
Does your company incorporate strategies which connect simultaneously with your current customer base and your target market? I’d be interested in hearing your thoughts.
by Jim Hughes on August 12, 2009
Directing marketing strategies in today’s information evolution takes a focused effort. It’s a full time job understanding digital and social media trends. The same goes for anticipating media consumption, audience behaviors and market shifts. However, there is one constant to keep in mind that can actually simplify the process regardless of the medium. It’s not about the platform, it’s about the content.
Your content marketing strategy will determine your ability to attract and retain a target audience. Sure the communication platform or media channel will formulate the dynamics of your conversation and the tone of your message. It will also dictate the expectations of the audience. However in the end, it’s what you say and how you say it that will determine your ability to engage your target market. It’s the information that you provide that will resonate with your potential customers.
Content marketing is becoming the difference maker today. Emerging technologies and changing media landscapes will continue to challenge business owners and marketers with reaching their target customers. However, if you focus on delivering compelling information to your target market, you will become relevant to them.
Do you have a content marketing strategy in place?
by Jim Hughes on July 16, 2009
Developing client relationships online is much like doing so in person. Of course there are a few obvious differences, yet the similarities are many. For the purpose of this post, I will focus on one of the common threads – credibility.
Regardless if you are communicating in person, online or through other mediums, building credibility with clients takes time and effort. When communicating with a potential client in person, the objective should be to discover and understand that client’s specific needs. Once understood, your goal is to provide information or advice on solutions that best meet those needs. Depending on the business, product and service this process can take several days, weeks or even months. It’s a consultative approach which I believe works best.
The online approach should be the same. I recently wrote that sharing expertise, exchanging ideas, providing solutions and answering questions allows for building lasting client relationships. Brands and companies that provide useful, transparent information become relevant and credible. Again this takes time and some commitment.
Providing compelling content to your prospects via your website, blog, eNewsletters and other communications increases the ability to influence the perception of your company, and ultimately the behavior of your target customers.
How are you developing creditility with your clients online?
