Good customer relationships are vital for the success of any business, and particularly important for the small business owner and SMEs looking to move things to the next stage.
Even as far back as 2015-16, surveys showed that marketing technology accounted for a third of the average department’s budget*.
Every successful marketing campaign starts with data. The more you understand your customers, the greater the chance of a successful campaign.
Marketing technology can do great things for your business.
You’ve got a website, various social media pages and perhaps a chain of stores. You undertake advertising and promotional activity through a variety of media, and you have a wide range of physical marketing and communications collateral. Not to mention all your written customer correspondence and the individual conversations that take place between your staff and your customers as well as the general public.
Back in 1990, Bain & Company, working with Earl Sasser of Harvard Business School found that increasing customer retention rates by 5% increased profits by 25% to 95%. Fast forward 25 years and the Gartner Group told us that 80% of your company’s future revenue will come from just 20% of your existing customers.
Don’t be in a great hurry to press the PRINT button. Make sure you’ve planned your direct mail piece well and you’re certain you’ve done everything you can to maximise its potential.
Everyone’s talking about omni-channel marketing. It’s the latest marketing ‘thing’. But, dig beneath the hype and you’ll see that it’s actually just good marketing in a world where consumer habits are shifting radically. It’s not a matter of ‘should’ you go omni-channel, it’s a matter of ‘when’.