Could You be Making it Easier to Win More Business?
One of our clients has a bone to pick with us. After a direct mail campaign designed and delivered by CME, his appointment diary is now full for the next two months and he’s still receiving enquiries.
It’s not because he’s invented something radically new or is offering a too-good-to-be-true cut price deal; the secret to this success story lies in one simple but significant factor – target audience.
While many direct mail campaigns are expertly targeted to a relevant target audience and companies spend £thousands on bought-in databases, often one key audience is overlooked – existing customers.
It’s a mistake to assume that former customers haven’t bought your product or service for a while because they no longer need it, like it or want to pay the price you’re asking. Sometimes they simply need a reminder that you’re out there and a prompt to get back in touch. That prompt might be as simple as a recap of the reason they dealt with you in the first place, or a compelling story about the contribution you’ve made to the business of one of your other customers.
While estimates about the amount of time and effort it takes to gain new customers rather than retaining existing ones varies depending on which business guru you believe, there is a widely held consensus that it’s easier and more cost-effective to look after the contacts you have than it is to build new relationships. And it’s easy to see why. Your current and former customers:
- Know what you do
- Trust you to deliver
- Have you set up as a supplier on their system
- Have or will have a requirement for your product or service
So, the next time you think about doing a direct mail campaign to win new business perhaps your first question should be whether you can win more business instead. Your database should be ready to go – all you need now is a good enough reason for your existing customers to respond to your call to action.