Sometimes Size Does Matter
You may ask yourself “is e-marketing still relevant”? Whilst social media and other activities may help you build a community or ‘database’ getting your leads back to an asset you own and control i.e. your website, should be your No.1 priority when it comes to your digital marketing strategy.
The bigger your database is, the more valuable your business is. For example Essential Baby. Their website was started by 3 mums in a garage back in 2000. Over a period of 7 years, their database grew to 100,000 mothers. Fairfax then bought it for $7M much to the envy of Heinz and Huggies Nappies.
So size does matter especially for your database. What steps are you taking to ensure your database continues to grow?
Do you capture every contact with your business and automatically add them to your database? After all, they have chosen to contact you and why not stay in touch. Is there an opt-in opportunity on every page of your website? The possibilities are endless but only as good as the operator. You just have to start and make it part of your daily process.
Following the “10 times Rule” (10 times easier to sell a customer than find a new one), you should have 10 times more prospects on your list than customers. If you don’t, it’s time to buy a targeted mailing list and start prospecting.
One of the best ways to prospect is to call to get email addresses of your business contacts. We’re not talking about pitching; we’re simply offering valuable information. Then I put these people on a marketing series, based on their interest. All your prospects need to be categorised according to their interest, services required, buying habits etc.
Time consuming? You bet. But the opt-out rate is very low and it will generate plenty of leads to keep all of us busy. Just this week, I got a “OK Let’s proceed as we’re ready and we’ve read your newsletters every time” call from a prospect I first contacted over a year ago. There was never a doubt we’d be his choice–he’d received valuable info from us at many times in our marketing campaign. (I could even tell which emails he read and which ones he ignored, so I was pretty prepared when he called!)
The size of your list matters. It’s one of the KPI’s of being in business. If your list is too small, your footprint in the marketplace is a merely a tip-toe! And worst of all, if you have a database and do nothing with it, it is just a dust collector and a real missed opportunity.