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 23, 2009
Non-intrusive radio advertising can actually be achieved. To do so however, advertisers, ad agencies, and broadcasters must take a different approach and open up their thinking. Everyone in the equation must understand that intrusive advertising techniques are not working.
Today’s radio listening audiences are no different than other media consumers. They are media savvy and want information, not hype. They want to hear relevant and compelling information about subjects of interest and need. They want to be engaged both intelligently and emotionally.
So how do you transform intrusive commercials into engaging content?
Here are a few thoughts:
- Advertisers: Gain credibility with your target market by delivering relevant and compelling information. Focus on providing updates on products and services rather than hyping sales.
- Ad Agencies: Create commercials which blend with the context of the radio programming. The tone and dynamics of the commercial content should match the music format of the radio stations and the lifestyles of the listeners.
- Production Directors: Producing engaging commercials is a craft – it takes talent and commitment to the process. Focus on producing creative content, don’t just add sound effects and edit voice overs.
- Program Directors: Savvy radio listeners long ago figured out when you run advertisements. That’s because you run them at the same time as every other radio station in your market. Time to revisit that programming clock.
- General Managers: Stop having Sales Reps write copy for local advertisers. Good copywriting makes an impact. Poor copywriting is just bad radio.
- Sales Managers: Consultative selling is about the client’s needs and meeting those needs with solutions. Not every client is right for your radio station or its listeners. It’s a disservice to the industry when you don’t recognize this.
- Advertisers Step 2: Make sure your ad agency and media partners understand your business and brand. If they don’t – replace them.
- Ad Agencies Step 2: What does a high school senior have in common their parents? Very little. Narrow your demos on media buys. 18-49 is not a target demo. By the way, neither is 18-34.
- Program Directors Step 2: Your listeners connect with the music, personality and lifestyle of your radio station. They will also embrace advertiser content that blends seamlessly with your format. Be creative and lead this effort.
These are not intended as critiques but as critical discussion points. I’ll share more thoughts in Non Intrusive Radio Advertising, Part 2.
So I ask you, how are your or your client’s radio advertisements non-intrusive?
