how to use follow up marketing to uncover increased profits

Hidden ProfitsHow To Use Follow Up Marketing To

Uncover Increased Profits At Your Business

www.losangeleswebstrategies.com

A G E N D A

1. How to find the hidden profits in your business

2. Four keys to success in getting those profits back

3. Strategies, tools, and techniques to use

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Every business has untapped profit centers that are hidden in plain sight.

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How do I know this?

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In my experience, most businesses are not maximizing the opportunity to resell, cross-sell and upsell customers that they already have.

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Most businesses focus almost exclusively on trying to get new customers.

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What’s wrong with this approach?(Three things)

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1. Getting new customers is harder than getting existing ones to buy again.

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2. It’s usually more expensive. And …

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3. It’s s l o w e r .

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There’s a better way …

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Start with maximizing the revenues and profits you are getting from your existing customers.

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How?

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STEP 1 (of 3)Focus on building your list of paying customers / clients.

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How?

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Grow your list using …

Fishbowl Social media Website SMS

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Capture everything you can when building your list.

Name Email Phone number Physical address Birthday

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STEP 2 (of 3)Communicate to that list frequently & include revenue-enhancing offers.

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BirthdaysHolidaysAnniversariesCoupons (they’re always in season)Appointment reminders

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Communicate using a variety of media.Email, SMS, direct mail, social media, etc.

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Include offers.

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STEP 3 (of 3)Create resell, upsell, and cross-sell opportunities for your products.

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ResellGet customers to buy more of what they are currently buying.

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UpsellWhen they buy, present them with a “premium” version at a higher price.

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Cross-sellIntroduce them to complimentary products and services based on their previous purchase history.

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4 K E Y S T O S U C C E S S

Using Your Current Customer List to Grow Your Revenue in the Next Year

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1. Make it a consistent process.

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2. Train your team.

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3. Give your team incentives.

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4. Make it easy using marketing technology.

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Let’s talk about marketing technology …

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Specifically: 1. EMAIL 2. SMS, 3. DIRECT MAIL4. SOCIAL MEDIA

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E M A I L M A R K E T I N G

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[ W H Y U S E E M A I L ? ]

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People are very receptive to email if it’s relevant and generous (they love discounts and special offers.)

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Email still delivers the highest ROI of all digital channels. (>$40 per $1)

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FastEasyCheapCan be automated

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[ E M A I L T I P S ]

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Send a monthly e-newsletter.Provide useful information, demonstrate your expertise, add value to the relationship and encourage loyalty.

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Mail at least once per week.

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S M S / T E X T M E S S A G I N G

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[ W H Y U S E S M S ? ]

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87% of Americans have mobile phones and 73% say it’s their no. 1 most-used technology device.

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nomophobia: n. the fear of being out of mobile phone contact.

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The average user spends an average of 2 hours a day on their mobile phone.

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Almost 66% of smartphone users admit to sleeping with their phones.

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6,100,000,000,000:number of text messages sent/received in 2010. SMS traffic is expected to reach 9.4 trillion by 2016.

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SMS text messaging has a 98% open rate; 95% of messages are read within four minutes.

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[ S M S T I P S ]

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Permission is mandatory.Strong offers are essential.

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Appointment reminders can reduce no-shows by up to 50%.

- Mobile Marketing Statistics 2012

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Mobile coupons are 10x more likely to be redeemed than traditional coupons.

- Mobile Marketing Statistics 2012

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D I R E C T M A I L

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[ W H Y U S E D I R E C T M A I L ? ]

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Direct mail expenditures have grown to over $50 billion, a 4.6% increase from last year.

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“Even though direct mail seems old school, it’s really sexy for the marketer, the reason being that there’s less clutter. So you get more effective impressions.”

– Dave Scott, CEO of Marketfish

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50% of U.S. consumers prefer direct mail to email, and 60% said they enjoy checking their physical mailboxes.

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We have an “emotional connection” to postal mail.

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[ D I R E C T M A I L T I P S ]

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Make it stand out!

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FedEx envelopes:Expensive? Yes. Effective? Very.

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Personalize it.72% of recipients will open a handwritten envelope.

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Use “Lumpy mail”.

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Always make offer. And include a clear call to action.Follow up by phone.

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Rinse and repeat. (Don’t just send one card and call it a year.)

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Automate it!

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S O C I A L M E D I A

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[ W H Y U S E S O C I A L M E D I A ? ]

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Social media use has grown by 712% since 2005. And not just among the kiddos …

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66% of adult Internet users use social media.

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72% of U.S. consumers research companies through social channels before making purchases.

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59% of U.S. consumers use social sites to vent about customer care frustrations.

46% of U.S. Internet users feel they can be brutally honest on the web.

38% aim to influence others when they express their preferences online.

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[ S O C I A L M E D I A T I P S ]

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Engage and interact. Social media is about having conversations, not monologues.

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Have a business page. 85% of consumers expect businesses to interact with them via social channels.

- Cone business in Social Media Study

Add value. Use social channels to share tips, discounts, and gain trust.

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Make educational videos and post them to YouTube.

50x- Forrester

Advertise. Facebook’s ad platform offers really cool, cost-effective ways to to reach your audience and tap the power of social proof.

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Advertise.

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L E T ’ S R E C A P

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1. Mine your backyard. Maximize the value of your existing customer base.

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2. Build your list. Collect as much info as you can.

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3. Design resell, upsell and cross-sell offers into your sales process.

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4. Reach out to your list regularly with offers, insights and expertise …

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5. And use multiple channels to do so …

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5a. high-ROI channels like email, direct mail, social media and SMS.

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Confused? Overwhelmed? Excited?We can help!

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Questions?

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We’d love to help.

• Just get in touch!


(213) 607-9100

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