Why Isn’t My Marketing Working?

June 29, 2012 by  Filed under: Marketing 

Relationship marketing is the answer!

It is no longer enough in today’s environment to market yourself once. The immediate cause and effect rarely happens.

Instead, companies and marketers are now expected to build relationships with prospective buyers over time, using several marketing ‘touches’.

This relationship is likened to one of a personal nature with several stages:

– Attention

– Build desire and infatuation

– Initial but limited commitment

– Build trust

– Permanent commitment

– Recommitment (initial novelty wears and mistakes potentially made)

‘Touches’ might be:

-Staff interaction

-Direct marketing (email/ post/ phone) i.e. welcome/ thank you/ we notice you have…

-Social networking posts

-Media

-Advertising and sponsorship

-Marketing via marketing partners

The Benefits:

– Increased and sustained sales from existing customers

– Better conversion of new customers

– Decrease in overall costs

– Decision support

– Customer Attention

– Increase profitability

– Improved planning

– Improved product development

Tips:

Ensure ‘touch methods’ are chosen well to target specific markets effectively

Ensure the message is coordinated and consistent

Ensure momentum is not lost (i.e. gaps in time where activities lapse)

Have a mix of direct and background messages

Time efficiency – recycle and share content across marketing methods each month. Create once and distribute across the methods.

What’s The Most Effective Marketing Message?

Educational marketing – Educational marketing gives customers and resellers the background they need to understand your messages and appreciate your products and brand.

EM is not a marketing tool/ method – it’s a message that you convey via those marketing toolS/ methods.

EM Works For Those Who Are Looking To…

– Develop deeper relationships with partners

– Build brand presence in end-consumer markets and encourage pull through sales

– Create brand preference

– Build trust

– Showcase yourself as above and beyond competition

– Build product preference

– Eradicate misconceptions

– Highlight alternatives to current market options

As A Byproduct…

Customers walk away knowing these three things…

You are a trusted resource for the latest product, technical and industry information.

You are appreciated for your credibility and knowledge.

You are a valued partner, sharing the same goals and priorities as your customers

Why marketing to existing customers is better:

1. Acquiring new customers can cost five times more than satisfying and retaining current customers

2. A 2% increase in customer retention has the same effect on profits as cutting costs by 10%

3. The average company loses 10% of its customers each year

4. A 5% reduction in customer defection rate can increase profits by 25-125%, depending on the industry

5. The customer profitability rate tends to increase over the life of a retained customer

6. Companies can boost profits anywhere from 25 to 125% by retaining merely 5% more existing customers.

7. Only one out of 25 dissatisfied customers will express dissatisfaction.

8. Happy customers tell 4 to 5 others of their positive experience. Dissatisfied customers tell 9 to 12 how bad it was.

9. Two-thirds of customers do not feel valued by those serving them.

Visit our site for more articles or a general nose as to who we are! http://www.freshmktsolutions.co.uk

For specific advice, feel free to contact me directly kirsty.cambers@freshmktsolutions.co.uk / 07889923854

For daily tips and marketing insights – follow us on Twitter/ connect on Linkedin:

@KirstyCambers
Kirsty Cambers – Fresh Marketing Solutions Ltd

Article Source:
http://EzineArticles.com/?expert=Kirsty_Cambers

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