"The Five Best
Your Advertising On Your Most Profitable Clients.
valuable are each of your customers? Many companies are surprised to
find that a small percentage of their clients represent the majority
of their profits. The top 5 percent of your customers may bring in 50%
of your profits, or more. Customers at the bottom may actually be
costing you money.
The key is
to find which clients or type of clients are the most profitable, and
to use your companies advertising budget to go after them. Donít spend your
time, effort, and money to bring in unprofitable clients.
You want to
allocate your companies advertising budget according to how profitable each group
of customers is. If one group represents 50% of your profits, then you
should be spending 50% of your companies advertising budget on them.
High Quality Presentations To The Most Profitable Clients
Once you know what group of customers or
prospects are the most profitable, direct your companies advertising to them on a regular
basis. The key to success with your companies advertising is to build recognition and
trust over time. Identify the profitable prospects, and stay in
contact with them.
Win Business From A Very Strong Competitor, Position Your Company As
The Logical, Second Choice To That Competitor.
When a customer is happy with their current
service provider, [and you believe that you canít win the business],
position your company as the second choice in the market. While your
other competitors are making big promises and saying negative things
about the strong competitor, you are praising them. After all, the
client is happy.
When the client needs a backup or a replacement,
you are perfectly positioned to take the business. The way to win the
big jobs is to win the small ones first, and do great work.
And Ė stay in contact. Donít leave the field
because they didnít give you the business. This is a long-term
marketing strategy, and it works.
Your Existing Clients Happy. Aim Your Advertising At Them. Ask For
Feedback And Referrals. Follow Up And Stay In Contact.
Your existing customers are your best prospects. They
are loyal, and they know how you do business. They buy more, and they
cost you less. Customer retention is the most important thing any
business can do.
Advertise to your existing customers first.
Advertising = Familiarity = Trust = Customers. Be Consistent.
People will only do business with you if they trust
you. Remember this: trust takes time. Create a strong company advertising program within a sustainable budget and stick to it. Your
companiesí name will become familiar to the prospect, and you will
get the business. There are no shortcuts to building trust.
Why Marketing Fails
Marketing is a
process that every business must conduct. But if management lacks the
necessary commitment to the marketing plan, it is sure to fail.
clear objectives and goals are not set, and a sustainable company
advertising budget is
not committed, marketing will fail. Unrealistic expectations will doom
your efforts. Poor research, planning, and targeting will kill your
marketing. And if management thinks that marketing [and selling] are
unimportant or undignified, the program is destined to fall short of
Ask for Help
As always, Professional
Advertising is here to help you. We recommend that you hire a
top quality graphic designer for your marketing materials, and run
your work past a marketing professional for a second
opinion. Itís a cheap investment to insure that you are maximizing
your advertising return on investment. Please
Professional Advertising for additional help.
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& Marketing Consulting Services
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for more information.
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