Thursday, May 26, 2022

Use the 80/20 Rule to Increase Your Profitability

Are you familiar with the 80/20 rule, also known as the Pareto Principle? As it relates to business, the rule asserts that the majority of your sales will come from a small portion of your customer base. Specifically: 80% of your revenue comes from 20% of your customers.

By understanding and leveraging the 80/20 rule, you can potentially increase your business effectiveness and profitability.

All Customers Aren’t Created Equal

From a sales and marketing perspective, it makes sense to invest time and effort in strengthening and maximizing your relationships with the vital 20% of your customers. This segment has the greatest potential for spending more money on your products or services. They’re also more likely to refer business to you.    

Spend more time cultivating this core base of customers that generates the most business and profits. Create a strategy for up-selling or cross-selling to this group as you’re likely to reap the most results.

Provide these lucrative customers with preferred services such as 24/7 support, loyalty rewards, email them discount coupons, send special holiday gifts or personalized notes of appreciation, and other ways to thank your best customers for doing business with you.

Customer Profiles

Take time to analyze the characteristics and demographics of the top 20% of your customers. Understand why they buy and what drives them. Focus your marketing efforts on finding new clients who are similar in an attempt to replicate your successes.

While all business is important, pinpoint your highest-return customers and devote more time to them and avoid letting unprofitable customers drain your resources. To maximize your profits, employ marketing strategies that attract more of your ideal type of customer.

Contact Marketing & Event Resources for assistance with your targeted marketing campaigns to attract the right clients!

Thursday, April 21, 2022

Highlights of Marketing Trends for 2022 (from HubSpot)

HubSpot does an annual survey of 1000 marketing professionals around the world (both B2B and B2C) and from that data they create an overview of trends to look for in the coming year.

Here are some of the 2022 trends and information about what they are and why marketing professionals are embracing them:


Thursday, February 10, 2022

Bring Your LinkedIn Profile to Life

LinkedIn users: Did you know you can add a 30-second intro video to your LinkedIn profile? 


It’s called the Cover Story feature and the functionality is available via the LinkedIn app only. It’s a great way to introduce yourself, add some personality to your profile, or set yourself apart from the competition.

Simply go to your LinkedIn profile page (via the app), click on your profile picture and it will give you the option to add a video.

Film it directly in the app or upload a pre-recorded video from your phone.

It’s only 30 seconds long so you want to plan what you’ll say to have the most impact in this short snippet! What do you want your LinkedIn visitors to know about you or how you can help them?

Once you add your Cover Story video, it will replace your profile picture and it will be outlined by an orange circle (see photo).  Check out my LinkedIn Cover Story!

Friday, October 22, 2021

Marketing Tips to Boost Your Holiday Sales!

It's time to plan your holiday season promotions. If it's the busiest selling time of year for your company, you'll want to start now and do it right. Here are some tips to help you make this season your best-selling one yet! 

1. Get Started Early

While the official holiday season begins right after Thanksgiving with Black Friday and Cyber Monday sales, this year you’ll want to start your marketing campaigns earlier than normal.  With COVID affecting supply chains and shipping, customers will be eager to get their shopping done early in order to get the
right gifts without any delays!  

2. Make Online Shopping Easy

While in-person shopping will be increased compared to last year, COVID worries will still keep some people away from crowds at the stores.  To accommodate all buying preferences, be sure that your website’s online shopping experience is a smooth one and ready to impress.

In addition to shipping products, trends like buying online with curbside or in-store pick up will continue to be popular this year.

3. Embrace Email Marketing

Your customers and prospects will be looking for great holiday deals and discounts.  During the holiday season, consumers frequently check their email for offers that can help them save.

Use email to send holiday coupons to your targeted list of customers and prospects. Treat your customers to specials, free shipping and secret sales tailored just for them. 

Email continues to drive website traffic and sales. It is proven to be consumers' preferred method of contact with the brands they know and love.  And your existing customers are valuable- on average they spend 31% more than new customers*! 

3. Social-ize

Social campaigns should play a significant role in your holiday marketing. Your customers and prospect will be scanning social networks for gift ideas and the best offers.  It's crucial to create a social posting schedule to ensure that you don't miss a beat. Map out all of your posts for the social networks that are right for your business during the weeks leading up to and through the holiday season.

Remember to balance your promotional posts with useful information. Produce content that helps your customers such as advice, tips, and include fun stuff like videos and photo contests to keep your audience engaged.


4.  Retargeting

A high percentage of shoppers will abandon their online shopping carts and leave websites without making a purchase.  Don’t miss out on these potential sales!  A remarketing ad campaign can help.

For instance, by installing a Facebook pixel on your website, you can then market to your website visitors via Facebook advertising.  Facebook’s “custom audience” lets you send ads to people who have visited your website in the past 30 days. If they didn’t previously make a purchase, hopefully, your retargeting FB ad and offer will prompt them to buy!

Need help pulling your holiday marketing campaigns together? Contact Jocelyn Murray
to see how I can help!

*Source: Invesp

 

*According to Invesp

Thursday, October 21, 2021

Are You Managing Your Online Reputation?


Are you managing your Google My Business profile to ensure that your business's online reputation is a positive one?  This free tool allows you to be visible in the Google search results and on Google Maps too
so it’s an important component of your online marketing strategy.


Begin by making sure your profile is complete so you give your prospects and customers the entire picture of your business. Be sure to include the basics (hours of operation, address, description of your business) as well as links to your website, social profiles and appointment or reservation booking interfaces. Don’t forget photos, videos and posts where you can share offers, news, announcements or event details with visitors.

Google reviews are one of the most important features of your Google My Business profile. Did you know that 80 percent of consumers trust online ratings and reviews* as much as a recommendation from a friend or family member? Regularly monitor and respond to your reviews. Have a plan for how to respond to each type of review to ensure customer satisfaction.

Tracking and improving your reputation is an important component of your business’ marketing and will lead to higher visibility and more conversions.

*BrightLocal

Tuesday, August 3, 2021

Creative Email Content Ideas for High Impact and Results


Coming up with valuable content for your email campaigns can be challenging. Once you've determined your campaign's goals, message and frequency, how will you draw readers in and engage them?

Here are some ideas for developing creative, valuable email content to connect with your audience:

Share your expertise

You are an expert - at least your customers think of you that way. Share your expertise by writing articles, tips, or by answering customer questions.

 

Use facts & testimonials

Facts about your products or your industry, quotes from customers, stories about their experiences and even advice from your customers can be effective.

 

Include links

Links give your audience the opportunity to interact with your message. Point them to a web page, blog, email address or a PDF.

 

Offer discounts & coupons.

Discounts, coupons, contests can work for the right audiences.

 

Encourage exclusivity & VIP status

Upscale hotels often offer special privileges and rewards to their most esteemed, frequent customers. People love exclusivity: remind customers of how special they are to you, treat them like VIPs and watch your ROI grow.

 

Hold giveaways

Give away a free product or service to everyone who responds or to one contest winner.

 

Remember: your email has to contain something that's worthwhile or useful to your audience. Some respond to coupons and discounts while others care about information and knowledge. Determine what motivates your audience and is useful to them.


For help with your email marketing strategy and plans, contact MER at 203.543.1455.

 

 

 

Tuesday, July 13, 2021

Attract the Right Prospects with Inbound Marketing

Attracting prospects by providing interesting and valuable content is an effective form of marketing that "pulls" prospects in.  Blog posts, videos and social content let you impart your knowledge and establish your expertise in the industry.  

Offering this helpful content in exchange for prospect data such as name, business or email address is the basis for inbound marketing campaigns.

This approach is vastly different from traditional outbound marketing which involves a "push" approach where companies use paid advertising to get products and messages in customers' minds and hope they take action.

Creating inbound marketing campaigns for a defined target audience to generate qualified leads is one of the best ways to market online. 

Here's an overview of how to execute your inbound campaign:

1.  Identify the audience

Define your target audience and their specific needs and pain points. Consider surveying or interviewing existing clients or prospects from your target audience to determine:

  • Demographics
  • Biggest challenges

  • Perceptions

2. Set goals

Determine what type and how many leads the campaign should generate by a targeted date.

3. Create relevant offers and landing pages

Create a content offer (an eBook, checklist, informational video series, etc.) that's valuable to the target audience. In exchange for your prospects' contact information, give them access to this valuable content (downloadable PDF).

Having an effective landing page (with a call to action and lead capture form) on your website is crucial to converting prospects.

4. Choose promotional channels to get the word out

Decide which organic and paid channels to use to reach your audience and promote your offer. Email, social media and paid advertising are good places to start. Develop campaigns and schedule posts or ads to drive traffic to your offer/landing page.

5. Engage

Once you capture prospect information, what will you do with it?  Develop an engagement strategy that helps you build a long-term relationship with these prospects. Create a series of relevant follow-up emails as well as sales team actions to turn your prospects into warm leads or even new clients.

6. Monitor progress

Assess whether your set goals were met and where campaign improvements can be made. Test different offers to see what gets the best response and closely track your promotional channels to understand where the leads are coming from.

Use inbound marketing to attract targeted customers by creating content and experiences that are relevant and valuable to them.  

Contact Jocelyn at MER to discuss how to start your next inbound marketing campaign!