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By Mark Cipolletti, Pinch Hit Partners Founder and Fractional CMO
They say “it’s better to give than to receive.” That may be true, but when it comes to giving gifts to our business clients, it’s not just the thought that counts.
Our clients know we have ulterior motives and they often see our gifts as thinly veiled marketing and sales opportunities. So, like any marketing campaign, they scrutinize them and talk about what they like or dislike. I’m sure you’ve been on the receiving end of a client gift and compared the quality of items from various vendors or asked yourself, “Why did they think I would want this?” If you want your client holiday gift “campaign” to reach its goals then you need to treat it like any other marketing initiative. Here are some tips for making your client holiday gifts deliver.
By Mark Cipolletti, Pinch Hit Partners Founder and Fractional CMO
It’s very difficult to get a new customer. And of course difficult translates to expensive. Research on this topic provides a wide range of figures on the costs associated with acquiring vs. retaining a customer, but most agree that it’s at least five times more costly to convince a new customer to buy than it is to get an existing customer to buy again. So, why do so many businesses quickly forget about the customers they already have – the ones they’ve paid so dearly to acquire? Do they think that just because someone bought from them once that they will automatically buy again? I hope not. Other brands are constantly selling to our customers so we must continue to engage with them too. Maybe it’s because most agencies that support our companies are focused on customer acquisition. When was the last time you heard an agency tout their latest award for an email they created for existing customers? Uh…never. Regardless of the reasons, the sad truth is that we often forget that most of our revenue comes from a small, but loyal, segment of our existing customers. Every marketing plan should include strategies for identifying our best customers and selling them more stuff. Here are some customer retention strategies to grow your business with the customers you already have: |
Pinch Hit Partners provides fractional marketing leaders to growth-oriented companies.
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11/7/2018
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