Maximize Your Marketing Dollars with This Simple Tip
It’s a standard rule of thumb in marketing. It costs 10 times less to keep the customers you have than to generate new ones. This means one of the best uses of your marketing dollars is to maintain customer loyalty. One of the easiest ways to do that is to use customer surveys.
What makes customer surveys so effective?
- They make customers feel valued.
- They provide an opportunity to learn about customer habits and purchasing patterns.
- If there is a problem with the customer relationship, they open the door to correct it.
How often should you survey? Some marketers survey their customers on an as-needed basis. Their goal might be to understand different customer behaviors, such as a drop in sales or a shift in purchasing patterns, or to get to know their customers better in order to drive 1:1 personalization programs. Others have an ongoing commitment to customer surveys, such as sending annual questionnaires “just because” or follow-ups after each sale to monitor customer satisfaction.
Regardless of which approach works best for you, customer surveys are a valuable tool for maintaining the loyalty of those customers who help your bottom line the most.
Need to send a customer survey? Ask us! We can help.
One of the most effective ways to boost your response rates is sending strategic, multi-touch campaigns. This approach uses multiple contacts with the same or different media to build your message over time.
Often, these contacts are layered in three stages:
1. Priming the pump (“Watch for our exciting offer!”)
2. Presentation of the message
3. Follow-up or reminder to respond
This is not a formula that you should apply rigidly, and not all programs will utilize the same elements. But it’s a good, general rule of thumb that has proven very successful.
Take the example of a private school that wanted increase its donations. It developed a multi-touch campaign that stretched over several weeks. The program included:
- General awareness letter to introduce the campaign and its financial goal
- First, second, and third appeal letters, with personalized data based on child, grade level, teacher, recipient’s past giving history, and progress toward the goal
- Postcard alerting families to an upcoming Phone-A-Thon
- Phone-A-Thon follow-up card
- Final appeal letter
Using this approach, the school reached its financial goal three months early, and overall, achieved new records for revenue and participation.
Not all multi-touch, multi-channel campaigns have this many elements, but this campaign shows the power that repeated, reinforced communications have to boost revenue, combined with the trust that many organizations, especially nonprofits, have in this approach.
Want to boost revenues using a multi-touch campaign? Give us a call!
Everyone likes to be rewarded for their loyalty. That’s why more and more marketers are offering a loyalty program these days. Direct mail offers unique benefits for these programs because you can offer coupons, deals, and offers and encourage participation with high-impact visual imagery that reinforces the value of the offer and excites your customers about participating in the program.
We tend to think of loyalty programs as primarily earning points to get free stuff. Buy 10 ice cream cones and get the next one free. But loyalty programs can take various forms. Here are four of the most common types:
Points-based programs: Customers accumulate points that they can redeem for products and services. The more points you earn, the more free stuff you receive.
Deals-based programs: Specific demographics within your program receive targeted deals. People with pools get 10% off pool chemicals in June, for example.
Tier-based programs: Your best customers achieve certain privileges access, and products based on their loyalty. After 12 months of subscription service, you get a free mobile phone upgrade.
Lifestyle programs: After 12 months of being a customer, you receive higher earning rates and access to a VIP Club that gives you access to benefits not available to other customers (luxury service, insider deals, sold-out tickets to popular events).
Third-party affinity programs: Draw on the value and benefits of related companies’ products and services to cross-pollinate value and exposure across multiple customer bases.
As you look to set up a loyalty program, draw your best customers into the conversation. Ask what rewards would be of most value to them. Use simple mail survey, online polls, focus groups, and other techniques to get highly valuable feedback.
Think a loyalty program might work for you? Let us help you brainstorm the right approach.
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