March 5, 2013 at 9:05 AM
By James Glover
Once a Day Marketing
James Glover, That Branding Guy, provides the inspiration and ideas for you to build more mindshare and capture marketshare with your customers in his Once a Day Marketing blog. Tune in often to his short, entertaining and practical marketing and branding tips and watch your organization become more successful and profitable.
Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing™. Today is Strategic Tuesday and we are going to discuss making existing customers count.
There are lots of ways grow your business. One of them is finding new customers. Another good strategy is to develop additionalbusiness from your existing customers.
You alreadyhave a relationship with these customers; they are familiar with your brand and have trust and confidence in it. It’s not costly for you to let them know about new product offerings. They are good candidates to encourage to buy more products or to spend more money.
Before we get into the strategy we’re going to look quickly at the 80/20 rule. Typically it means that 80% of the effects come from 20% of the causes. When you relate that to marketing it means that 80% of sales come from 20% of your customers. Keep that in mind as we get to our next section where we are talking about strategy to increase sales from existing customers.
When looking to existing customers for increased sales, review those essential 7Ps of Marketing. Consider the Product itself, Pricing, Promotions, Place, People, Physical Evidence and Process. What it is about these elements that keep your customers coming back? Are you able to improve any or all of these areas to delight your customers?
Watch our Once a Day Marketing™ video to learn more: Making Existing Customers Count
Once a Day Marketing™ positions brands to become #1 in the minds of target customers. Visit our website at www.onceadaymarketing.com. You may also contact James Glover at (505) 501-1330 or email firstname.lastname@example.org
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