by tradesmeninsights | May 25, 2011 | Marketing Tips, Traditional Marketing
I believe the rule of thumb is it takes 5 times as much effort to get a new customer than it does to keep an existing one. All too often we focus so much on getting new customers that we forget about who’s supporting us now!
Have you ever calculated what a customers worth is over time? Say you have a 30-year old contractor that usually buys $5,000 worth of your stuff a year. Doesn’t sound like much, but if you keep him happy, you probably will have him for 30 years before he retires. So assuming he doesn’t grow his business or you don’t come out with anything new for him to buy over the next 30 years, he would have spent $150,000 with you. Is he worth keeping? I’d say so. So what are you doing to keep him happy? Unless you’re selling a proprietary product, your competition is knocking on his door every chance they get.
I know many of you who follow me don’t buy shoes online, but I’d bet that if you asked your wife if she’s heard of Zappos, she’d say yes. I picked them as an example and even wrote a post on their book, Does Customer Service Deliver Happiness, where they show that by even selling name branded shoes online, they could, in many cases, outsell the brand itself in the online arena. The way they did it was with customer service.
So here are some points for you to consider when evaluating your Customer Service department:
- Try to keep the personal touch (human being) as the initial touch point if you can.
- Empower your CS people to solve a problem immediately without having to go through 3 levels of supervisors.
- Reward customers with a loyalty program as a way of saying thanks.
- Customer surveys are a great way to get feedback, not only on how you’re doing, but for getting ideas for future products.
I’d also suggest if you haven’t done so in a while to call your customer service department and see what your experience is. If you aren’t impressed, what do you think your customers will feel like?
I’d also suggest reading Delivering Happiness that shows how Zappos grew to be a billion dollar company using customer service to set them apart from their competition.
by tradesmeninsights | May 24, 2011 | Marketing Tips, Social Marketing
One of the biggest challenges marketers face, especially in the B-to-B market, is trying to sell something to their bosses who don’t really understand. Social media falls into that category more times than not. It’s hard for management to allocate resources to something they don’t have their arms around.
So you need a plan, and I recently read Social Marketing to the Business Customer by Eric Schwartzman and Paul Gillin that outlines some tips on helping you get both a budget and resources to get the job done. Here are some highlights:
- Identify your target buyers keywords – Identify and track words that would identify a potential sale. For example, if you were in the material handling business and the key words “new lift trucks” came up, there might be an opportunity for you to start a conversation.
- Evaluate your customers, suppliers and most importantly, your competitors – If you can show your bosses that other folks in your market are utilizing social media, it will help in making your case. We usually offer to do, for clients or potentials, a quick audit of their competitors, key words and phrases in their space to see what kind of activity there is.
- Position social media as an extension of your current marketing efforts – Social is just another tool in the marketing tool box so make sure you integrate it into current efforts.
- Support the existing culture – If your management gets social media it will be easier to sell and monitor activities. If they are less familiar they will want more control as well as metrics. Fortunately, it’s the most measurable media out there.
Bottom line is, do your homework to show that social is being used by your customers and competitors. Show them who’s on Twitter or is blogging. Pull up a mobile app or show them a relevant group on LinkedIn or a forum they should be participating in with your customers. The more tangible example, the better.
by tradesmeninsights | May 19, 2011 | Marketing Tips, Traditional Marketing
Email marketing is still a very good B-to-B business tactic. But like anything else, you’re always fighting for the attention of the professional tradesmen. Contractor’s inboxes are just as loaded as the rest of ours, so what do we need to do to get him to open ours?
Here are 5 tips to consider:
- Identify yourself – If they don’t know you, they probably won’t open it.
- Attention-getting subject line – Keep it short and benefit oriented.
- Provide relevant copy – What’s in it for me?
- Keep your copy focused and short – Get to the point; use bold headlines and give them a call to action.
- Build a good list – Use your existing customer lists but also ask your sales force for a list of its prospects and don’t be afraid to rent a reputable list.
Those are some of my tips. What’s working for you?
If you like this post, you might also like:
5 Tips to Improve Your B-to-B Direct Marketing Efforts.
by tradesmeninsights | May 18, 2011 | Traditional Marketing
I just got back from the ISA Show in Chicago. Most of the manufacturers that I talked to were pretty upbeat on business in general, but were somewhat disappointed with the turnout of distributors for the booth session. Sunday was slow in the morning and spotty in the afternoon. Monday it was a slow start, but traffic picked up around noon.
I left Monday, but I’d be interested in knowing how many people showed up for the closing luncheon. I liked it better last year in INDY where they closed the booth session down for the luncheon.
Is it me, or are 4 days for a meeting like this too much? I’ve got to think that a two-day affair could certainly accomplish what needs to be done. Anyone agree?
by tradesmeninsights | May 17, 2011 | Marketing Tips, Marketing Tools, Marketing Trends, Social Marketing
The professional tradesmen don’t go anywhere without their cell phones, and there’s a good chance that those phones are smartphones (50% of Americans will own a smartphone by the end of 2011). They depend on them everyday on the jobsite. So are you missing an opportunity?
I recently read a post by Heidi Cohen, 6 Must-Do Mobile Marketing Tactics that outlined some things for you to consider if you’re contemplating getting into mobile apps. Here are some highlights as they would apply to the professional tradesmen:
- Understand your goals – You need to determine your strategy and how it fits into your existing marketing plan.
- Know your market – Beyond identifying your audience, you need to figure out what kinds of things would be most useful for a contractor of a jobsite.
- Mobile websites – Make sure your existing website is formatted for mobile. Make sure the content you do have there is applicable to the contractor’s “on the go” needs. Make fields larger, make sure you have your logo and encourage action.
- Mobile search – Beyond your normal optimization, combine with mobile CTR. Don’t forget to to include local content like where the closest distributor of your products are.
- Mobile e-mails – Since e-mails are the most used application, why not develop an e-mail plan specifically for mobile? If your sales guys are demoing a new product at a local Depot, let them know about it and offer them a discount coupon for stopping by.
These are just some ideas on how to capitalize on mobile. If you’ve got an existing mobile program going on, I’d like to hear what you’re doing.
If you like this post you might like:
Mobile Marketing for B-to-B: Change in the Air(waves)
56 Mobile Marketing Facts
by tradesmeninsights | May 12, 2011 | Marketing Tools, Social Marketing, Traditional Marketing
Thought leadership starts with establishing a point of view.
I would imagine that most of us would like to be considered a thought leader in our respective business categories. A thought leader gains credibility with the market and over time becomes a trusted source.
The key word is over time as this is a long-term commitment on your part. If you’re going to make that kind of commitment, you need to have a plan. GlobalSpec has a good white paper, How to Become a Thought Leader in the Online Era, that’s worth reading.
Here are some highlights:
- What is your company’s position on how the industry you’re in is changing?
- What kind of challenges will your customers be facing?
- How are you addressing these issues that will affect the industry?
- What kinds of innovations are coming down the road that might impact the industry?
- What differentiates your company from the pack?
You need to draw a line in the sand and make a statement. If you start by answering the questions above, it will get you going down the right path. Once you have a point of view, it’s important to communicate that through your existing marketing and PR efforts, both traditional as well as social.
I’d like to hear what you’re doing to become a thought leader in your industry.
