How your Present Clients Can Lead You to New Sales
Do you make high ticket sales to consumers? If so, here's a direct marketing question:
"What do you do if you have a great product or service but your sales aren't what you know they really should be?"
The answer is to change.
You know, it's simply a law of life. Without change, things just stay the same. In this case, you've got change the way you go about direct marketing.
Neighbors, Your Best Prospects
The key to generating sales starts with highly targeted lists. Many companies marketing to consumers find that their best sales prospects often live on the same block as one of their good clients.
Now, using today's state-of-the-art technology, you can put your name and message in front of the best prospects for your product. They're the 20 to 50 closest neighbors to your present customers with the same household demographics as your best clients.
(The absolute best prospects for your products or services are always direct personal referrals from satisfied customers).
Use your best customers to find more people like them
When you learn what makes your customers unique it's much easier to find more buyers for your products or services.
To do that, identify your most profitable customers. In marketing, as in life, you always get more value from a meaningful specific than from a wandering generality.
First, find out what differentiates your profitable customers from other people in your market area. Then create targeted lists of their neighbors that look like your best clients.
How do you create high performing direct marketing lists? The all-important first step is to identify the precise customer you want more of. It doesn't pay to broadcast to everybody. Your audience should be as specific as your message.
Here's some real-life examples.
An auto dealer wanted to increase his sales. He decided to do a promotion on a high margin model. So he used the buyers of that model to act as a guide to other people just like them.
Each time he sold that model, he ordered lists of the neighbors of each new customer with the same demographics and lifestyle. They were invited to come in for a special showing. He mailed postcards and followed up with phone calls to set appointments.
Then, he used the same marketing technique with all the more profitable models in his product line. And found that focusing on people that 'look like' his existing customers helped him sell many more cars with less advertising dollars.
This remodeler specialized in sun rooms, solariums, awnings - and any additions featuring glass. (Incidentally, these same principles work for any remodeling speciality).
As a remodeler, he knew the best prospects for his services are the neighbors of existing clients. They typically live in homes about the same age (and needing the same work) and share a similar socio-economic lifestyle. But, not everyone living around the job is a good prospect.
He knew that for his marketing program to be effective, he'd have to present his message to the right people.
So, he built direct marketing lists of the neighbors with similar age, income, family status, etc. He mailed a postcard followed by two letters to each prospect neighbor over a period of 6 weeks. Not only did it work (many new sales), but he spent fewer marketing dollars for each sale.
The lesson is that you can market to fewer people if they're the right people. And still end up with more appointments and more sales.
Securities and Financial Services
A stock brokerage firm was interested in acquiring more clients for whom the firms account executives could provide individualized "managed account" services.
By identifying the specific household demographics of their existing clients with managed accounts at a specified level, they built lists of the neighbors of their clients with the same demographics.
Finally, they followed each personalized letter with a phone call. The result was a significantly higher number of qualified prospects and new accounts than previous marketing efforts.
How about you?
Are you using today's technology? If you market a high-ticket item to consumers, you can use the same marketing principles to make more sales. And spend fewer marketing dollars. Regardless of your product or service.
Pick up the phone and ask us to put our experience work for you.
Give our marketing specialists a call at (800) 711-5478. Or, click the link below to fill out an Information Request Form. We'll respond promptly.