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Craig Barnes on Monday, November 23rd, 2009 |
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Are you as amazed as I am about how many people do not return phone calls? Insane.
As marketers, making a connection with prospects and customers is our lifeblood. Think about all the opportunities you have to gain insight into others’ thinking, needs and concerns when you engage in the simple act of conversation.
But, if you participate in what I call ” selective return”, you are probably short-changing opportunity. You know, it’s the practice of pre-determining what the person who left you a message wants, or what the outcome of the call will be. I think that’s just plain egotistical.
A mentor taught me a long time ago that if one wants to build a reputation of respect for other’s time and efforts, return phone calls and do so promptly. This mentor is a CEO of a Fortune 500 Company. Ask anyone who knows him and they’ll tell you that he is a master relationship builder … with customers, prospects, competitors, suppliers … because, among other things, he returns phone calls. He once said to me, “you never know when you might meet the person whose call you ignored.”
Sometimes the person you’re calling back may not like the message you’re delivering, but I guarantee they will appreciate the fact that you took the time to call.
Seems so simple, doesn’t it?
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Craig Barnes on Thursday, November 19th, 2009 |
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Do you know this old parable? A man has a large boulder in his back yard, and every day he goes out a hits it with a sledgehammer in a effort to reduce it to ruble so that it can be removed. Each day he hits it one time. This goes on for a year. And on the last day of the year, he swings the sledgehammer, and it cracks and crumbles in to a million small pieces.
The question is: Was it the last strike of the hammer that cracked and crumbled the boulder, or was it the result of the man’s daily efforts?
If you’re not converting as many leads as you would like, chances are you are not going out back and paying attention that that boulder.
Having a lead nurturing program is essential to reducing sales costs and increasing profits.
Companies with organized, systematic programs to reach back to leads are the companies who enjoy an above average conversion rate.
It takes constant attention.
Leads convert at different times for different reasons. And if’ you’re not staying in contact with your leads, engaging them in value-based conversations, then you are short-changing your efforts.
Seth Godin had a great point in his blog today when he asked why more companies don’t consider the lifetime value of a customer. You can’t convert what you ignore.
You’ve paid for the lead. Leverage that spend and increase your marketing your ROI.
(Image courtesy of Corbis)
By
Craig Barnes on Monday, June 1st, 2009 |
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I often get a quizzical look from prospects and clients when I tell them there is a difference between “generating” leads and “capturing” leads.
What do I mean?
Companies spend money to generate leads, right? ( if you’re in retail substitute customers for the word leads)
Once generated it’s time to maximize return by capturing as much information as possible about that lead. Most important is capturing contact information. With this in hand you can now initiate an organized lead nurturing program. You will likely have to provide something of value in return for that information. It could be a free report, a time sensitive discount offer, etc.
Let’s face it, every lead doesn’t convert immediately. And depending on your particular enterprise, your conversion cycle may be longer than others. You can’t afford to let leads simply evaporate because you couldn’t convert them today.
I’ll talk about the essentials of a lead nurturing program in a future post. Take time to hone your lead capture process and boost your marketing ROI.
By
Craig Barnes on Wednesday, April 8th, 2009 |
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Have you ever wondered why so many small businesses were successful years ago? The answer is simple. They really knew their customers.
I’m reading a book about Latonia, Kentucky right now. It’s where I grew up. A couple of chapters are devoted to stories and images of small businesses in the town and how they served their customers.
My grandparents owned and operated a jewelry store in Latonia that my great-grandfather started in the 20’s. 
As I read the book I was reminded by the way my grandparents nurtured their customers. They would (mostly my grandmother) would send handwritten notes to those who made purchases thanking them for their patronage. They also sent birthday and anniversary greetings. If they saw an engagement announcement in the paper they would cut it out, laminate and mail it to the bride’s family with a congratulatory note. Railroaders needed to have their watches regulated (I guess at some point trains ran on time) and they would mail reminders so that the engineers and yardmen would all be in sync.
Here’s the lesson from those stories that can help you boost your marketing ROI.
It’s critical to fully leverage the customer relationship to maximize lifetime value. While my grandmother kept a card file of names and addresses, we can utilize data mining and automated delivery systems to stay in front of our customers. And because my grandparents’ customer universe was small, they could get to know those who traded with them personally. Today, we have sophisticated profiling tools today that help us know our customers and enable customizing communications based on those understandings.
Occasionally it’s good to look back to see where you can go.
By
Craig Barnes on Tuesday, March 17th, 2009 |
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Go with me on this one. Look at your phone. What do you see?
I know, buttons … a screen … a handset if it’s on your desk. But, what do you really see?
This may sound elementary, but I see a way to increase marketing ROI. When is the last time you picked up the phone and called your customers?
The simple act of just saying “thank you” for your business is a powerful statement.
Your customer will appreciate the fact that you actually care and took time to say so.
And as you move through the conversation, offer up a couple of business building ideas that have nothing to do with what you do.
Just pay it forward.
Personal contact doesn’t cost you anything but time. If you’re looking for a way to increase your marekting ROI, I can’t think of a better return than you can achieve by picking up the phone and saying, “thanks.”
By
Craig Barnes on Monday, January 26th, 2009 |
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I heard a report on NPR yesterday about the 13 million email addresses the Obama campaign collected during the campaign. They plan to leverage them for the creation of a post-election movement to more directly involve Americans in the legislative process.
The report raised the issue that those on the list most likely had varying degrees of partisan viewpoints … from hardcore DNC members to those who were attracted by President Obama’s bi-partisan campaign rhetoric.
This is the perfect case study in waiting for the importance of segmenting customer data.
Let’s exchange the word supporter for customer and then think about how the Obama team can boost the ROI of their efforts.
1. By developing customer profiles from the list, they can readily segment them into various categories. These could range from those who would support any effort put forth by the Democrats to those that would be more responsive to initiatives which included more people “under the tent.”
2. With that knowledge, the team could communicate with and mobilize those that would most likely respond to a particular issue or idea.
3. Metrics could be established to measre varying goals and the results used to predict likelihood of future efforts’ successes.
4. Each sgement could be polled to determine degree of support in advance of introducing legislation or positions.
The same principle applies to any business. Think about your enterprise. If you have a list of customers and/or prospects, you possess a valuable asset. It’s time to leverage it for success. You can boost your marketing ROI significantly if you take the time to understand your customers.
Once armed with a highly segmented list, you can develop campaigns with pinpoint accuracy that will produce results.
By
Craig Barnes on Monday, January 5th, 2009 |
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This just in … no more free beer at Busch theme parks. Just read this in a news post. It made me think about customer expectations.
As we launch a new year of engaging customers ask yourself what expectations your customers have about their interactions with you.
I have no idea whether or not those coming to a Busch theme park have come to expect free Budweiser as a just reward for standing in-line with the sweaty masses. But if they have, are there consequences? Will people vote with their feet, or simply shrug it off as another casualty of a faltering economy?
Have your customers developed a set of expectations when interacting with your brand? Do the expectations carry any value? Metaphorically, if they expect a “free beer” when transacting with you, does it add value to the brand experience?
It’s a good time to determine what is and what’s not important to your customers. Engage them in a simple survey, publish the results back to your customers and state your intended actions.
Bottoms up.
By
Craig Barnes on Wednesday, December 17th, 2008 |
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Can you boost your marketing ROI in 2009? Sure you can. Here’s nine ideas you can put into motion today.
1. If you are like most, the 80/20 rule applies in your business. Segment you customer data and identify those producing the most revenue. Send them a personal note thanking them for their loyalty.
2. Stop marketing to the dead leads on your list. Replace them with leads that better match your best customer profile.
3. Don’t have a best customer profile? Mine your data and develop one.
4. Demand that every marketing dollar spent in 2009 will be measured.
5. Provide information to your prospects and customers that will help them impact their business.
6. Create a digital dialogue with your customers. Notice I said “dialogue.” Ask for feedback.
7. Find ways to add value to the product or service that you market.
8. Actively reengage warm leads.
9. Smile when you talk. Even if you’re on the phone. It works.
There’s no reason to believe that 2009 is going to be any easier than 2008. And, this makes it a perfect time to dedicate yourself and your team to doing everything you can to ensure dollars are deployed strategically and everything has a metric attached to it.
By
Craig Barnes on Monday, December 1st, 2008 |
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Here are three really quick reads that you may find interesting. Let me know what you takeaway from them.
Three Of Five Adults Shop Online
A new report from The Media Audit indicates that three in five adults shop online at least once a year, while one in five shop at least once a month.
Online Reviews Second Only To Word Of Mouth In Purchasing Decisions
New data from Rubicon Consulting demonstrates the importance of online product reviews and word of mouth when deciding on what to purchase.
Most Fortune 500 Companies Have Low Internet Visibility
A new report from “Conductor,” a New York based search agency indicates that most of America’s biggest corporations have limited Internet visibility, as indicated when doing a natural search, using the keyword phrases most commonly associated with their services or products.
What did you learn from those three quick reads? Here’s my takeaway:
1. Even if you’re not selling a product online, you can build a list of interested prospects by offering to give them something for free in exchange for their information. For example, you could offer a “free report” on some aspect of your industry.
2. Ask your customer to comment on your service or product. Testimonials work!
3. If you’re a smaller company, use your size to your advantage. Claim your Internet space and slay the giant.
The opportunity to boost ROI is all around us. We just need to pay attention and act. Let me hear from you.
