Social Media, Networking, Events, Promotions, Coaching, Consulting

Long Term Sustainability Is Very Emotional

There’s nothing better than knowing someone respects you for your intelligence. It’s reassuring when our peers look to us for guidance and support. Let’s face it, it’s just awesome to know everyone else thinks your as smart as you do. The best way to validate your mind and its capabilities is of course to appeal to the minds of others….right?

The truth is, we like to pride ourselves on our brains but, we make most of our buying decisions with our hearts. So, when we try to appeal to the intelligence of others and use logic to sell, we starve. Today’s consumers don’t want to know the specs of your product or services, they want to know you. Now, we’re not talking old fashioned snake oil salesmen here. This isn’t about getting the crowd riled up and throwing their money at you. Not only is that unethical but, it doesn’t get you past that day for revenue.

Before we can really get into what we are proposing to you, there are a few things we need to consider:

  1. Unless you have a truly unique product or service chances are good that there are others making the same offering you are. If it isn’t your products or services that set you apart then, what does?
  2. Your business isn’t like today’s fashions, it isn’t disposable. You’re not going to invest in your business today just to shut it down or give it away four months from now. What will it take to make sure it still fits four years from now?
  3. Marketing is one of the most important things you need to do to grow your business. Unfortunately, it can also be one of the most expensive. How can you maximize your marketing dollars to get the biggest bang for the buck without breaking the bank?

So what’s the proposition?

Experiential Marketing! The answer to all three of the above questions is engagement and experience.

Here’s your three step plan. (1) Engage with your current customers by asking for referrals, getting permission to email them, offering them exclusive deals, and so on so that (2) they become loyal to you and turn into repeat customers that you have developed relationships with and that will turn into (3) word of mouth advertising and referrals that you didn’t have to spend any money on. Actually, you made money on those new customers because the people referring them are already paying customers.

We’ve saved this for last because it’s the scariest part of your marketing budget and you probably don’t even know it yet. We attended a seminar presented by a business coaching company. They asked the companies in the room to take the time to sit down and calculate how much money they are spending to acquire one new customer. The results were staggering! After taking into account the business cards, presentation materials, marketing materials, ads, travel, food and coffee, office expenses, and everything else we have to spend money on to keep our businesses going the businesses that shared reported anywhere from $50.00 per person to $1,400.00 per person! Can you imagine what the big corporations are spending? Now you need to calculate how many current customers you need to retain to maintain and how many new customers you need to grow. Remember, each new customer represents your acquisition cost. Let’s say, for example, your acquisition cost is $800.00 per person and you need 4 new clients next month that means you can look forward to spending $3,200.00 and who knows how many hours. Good thing there’s actually a way to generate even more new customers while cutting those overhead costs. Experiential marketing is opening a whole new world to businesses. A room full of people that you already know are interested in your products or services, a huge positive experience, the chance to meet and engage with all of them, and an amazing follow up system that ensures nobody feels like they’ve been forgotten after the party. It’s the ultimate way to let your buying community know you care, which is exactly why they should do business with you. Sound too good to be true? Well, this time, it isn’t!

The Promo Syndicate specializes in helping businesses develop long term relationships with their customers. Long Term Sustainability Depends on Experience.
Want to know how creating experience will benefit your business? contact us at promo@tpsyeg.com or 780.278.5950

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