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How much of your marketing efforts are directed at finding new customers versus providing resources to servicing or pleasing your existing customers? Various studies have tried to estimate the value of hunting versus cultivating, and it is estimated that increasing customer retention by a mere 5% can lead to profit increases of anywhere from 25-95%! 

Staying top of mind with your existing customers means you have to consider different promotional strategies than you would for your top of funnel clientele. For starters, arming your sales team with a way to easily order promotional and marketing materials for existing customers can ease a lot of the logistical headache for all parties involved. This ultimately helps to get “the goods” into the hands of your customers, and campaigns should incorporate convenience, consistency, and creativity to help pique interest. 

CONVENIENCE

To promote a new fragrance, AXE put together a handy backpack with everything their sales team could possibly need to help promote the new product. This type of unique communication kit benefitted the sales team by having all branded promotional resources in a contained, easy to transport pack. Providing a modified version (including swag or easy to share info, for example) could also help inspire existing customers to become your advocate and share your goodies with their network. Make it easy for customers to get your materials and share on!

CONSISTENCY

Ensuring your brand is represented consistently on your communications tools and promotional materials is key to building recognition and trust. So whether you’re producing swag, brochures, or other campaign elements, you’ll want to make sure that your branding is on-point. Consider leveraging an online company store to help your sales team order pre-approved materials (allowing you to control how your brand is presented and the quality with which your assets are produced). Depending on your business, it may also help to provide customers access to an online ordering system of your marketing materials so they don’t take production into their own hands! A company with a distinct icon/mascot like School Zone’s Oliver E. Gator would benefit from an online store as it can provide pre-approved promo materials to parents or teachers easily and efficiently.

CREATIVITY

Reward your best customers with a something memorable, like Opus did with a pleasantly confusing direct mail campaign to existing clients. Playing on the concept of the lame Christmas fruitcake, the company sent customers the customary holiday cake with clever messaging around their firm’s ability to produce better ideas than the gift in hand. The positive response was massive (a 200% sales increase), and client CEOs reached out to commend the company on its creativity and charm. You can be certain those customers remember Opus every holiday season (especially if they receive a fruitcake)!

PRODUCT SELECTION

Choosing the ‘right’ branded merchandise can be a daunting task.  The options are endless and there are so many factors to consider.   ASI – Adertising Specialty Institute did an Impressions Study that takes the guess work out.    Get a copy of the Impressions Study here.  Find out which products perform best?  What kind of products are best for branding?  How do they influence and impact purchasing decisions?  What are the consumer behaviors associated with them?  Prove the ROI, based on the number of impressions made as compared to their life span.

Making an impression with your existing customers is just as crucial as wowing prospects.  We live to help our clients create exciting communications tools to blow their customers away. 

does_promotional_advertising_work.jpgClick here for the impressions study

 

Resources:

https://hbr.org/2014/10/the-value-of-keeping-the-right-customers/

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