What is Your Customer Retention Strategy?

Happy New Year!

A very simple and extremely important message for the start of 2017!

• Develop a customer retention strategy and execute it. All growth begins with retention. Retention programs produce a higher ROI than new customer acquisition efforts.

• Deliver value by helping your clients develop customer retention programs as well. It’s much easier than it sounds.

• The #1 reason customers defect is lack of communication. A cross media (don’t skimp on print) communication program is an easy and effective way to strengthen and protect existing customer relationships. In the process, you will also help cultivate new ones.

I’m happy to share my step by step roadmap for developing an effective customer retention strategy. Send me an email or give me a call, anytime!

Patrick T. Whelan, President
pat@greatreachinc.com
978-332-5555

3 Marketing Ideas for December

Printer Marketing PublicationsHere are the three best things you can do in December to help grow your print and mail business in 2017:

  1. Embrace and become highly proficient with LinkedIn (LI). With almost 500 million users, LI is today’s professional network and the best place to expand your reach, promote your personal brand, stay top of mind and generate traffic to your company website. Think you already have it down? What about LI Showcase or LI Sales Navigator? There are so many tools and strategies to explore. I just did a webinar for PIA on this topic. Reach out if you would like to discuss this.
  2. Develop a customer retention program. All sales growth begins with retention. It’s less costly to keep an existing client than to cultivate a new one. Follow the 90 day rule. Use a multi-channel strategy to engage each of your customers at least 4 times per year (good marketers shorten this to 30 days) in a non-selling manner. A company newsletter or magazine, customer education events such as a webinar or lunch and learn, brief email notifications that present useful, customer focused content, customer appreciation events, etc.
  3. Learn marketing. It’s no longer about learning to be a great closer or prospector. The most important trait a salesperson can have today is to be a good marketer. Smart marketing increases sales reach and effectiveness. Join marketing associations and LI marketing groups. Sign up for various marketing newsletters- there is a wealth of highly relevant information right at your fingertips! Being a smart marketer will also allow you to provide greater value to your customers and prospects.

Thanks to PIA for the opportunity to present to their members and thank you to my many loyal clients who utilize my company’s marketing services. If anyone would like information on our turn-key marketing solutions, please visit us on the web and submit a sample request. Cheers to a safe and joyous holiday season!

Little Mistakes That May Be Costing You Sales

When we focus on business and sales, it’s easy to overlook small issues that seem insignificant. However, these small mistakes may be costing you more sales than you realize. Here are some thoughts based on some of my own recent experiences. I actually realized today that I was guilty of one of these. The good news is that they are easily fixable. Are you making any of these mistakes?

Mistakes/job screw-ups aren’t what kill a customer relationship; it’s really all about the resolution process. I’ve become an even more loyal customer in some cases based on how my complaint was handled. View every customer interaction as an opportunity.

Automated phone routing systems cost you sales, period! Some are worse than others but I’ve yet to find one that was mobile friendly. If I’m driving, I can’t start typing the first few letters in a person’s name. It’s easier to deal with Siri, so I’ll be on to the next 3-5 brands in my memory.

Dave Thomas was fond of saying, “It’s the first and last bite of the burger that the customer remembers most.” Maybe not entirely true in the print and mail business but don’t discount the importance proper training for your reception, delivery and A/R staff.

If I’m going to trust you with my print marketing, I want to feel confident that you are marketing savvy. Your website design, content, and social media efforts are important to me. I will give the job to the company I trust the most. Attention to detail is critical.

Have a marketing issue or challenge you wish to discuss? Shoot me an email and let’s set up a 10 minute phone conversation.

Patrick Whelan
pat@greatreachinc.com
978-332-5555

Marketing Basics to Grow Print Sales

More than ever before, print providers in this day and age have wisely embraced the need to effectively market their services.

• Know Me
• Trust Me
• Like Me

If you are not effectively achieving all of these, then your company is at a competitive disadvantage. How does your company’s efforts compare to your top 3-5 competitors?

Utilize a multi-channel approach to build and maintain mind share, foster trust and credibility, and connect socially. I’m happy to show you how.

Please email me or visit us on the web (greatreachinc.com) if you would like to see samples of our turnkey, exclusive, cost effective marketing solutions for printers and mailers.

 

Forget Sales & Marketing: Think Customer Experience

Brand differentiation starts with an understanding of the customer journey from the customer’s point of view, not the printer’s. It’s all about the customer experience.

  • Do customers really want to see more advertisements and promotions in their inboxes?  Focus more on holistic engagement than individual marketing campaigns.
  • Do customers want to “Visit us on the web” just see the same boilerplate website content that they see on a competitor’s? Customize your site as much as possible.
  • Are customers impressed with generic business articles on a printer’s web site that address topics such as fall fashion and interview skills?
  • Are customers hungry for the jokes, recipes, and word find games that get sent to them under the guise of helpful company newsletters?
  • Are customers motivated enough to call a printer just to find out if they are still in business because their website and social media content has not been updated in two years? People prefer to gather info from the Internet than to make a call.
  • How does a customer feel about your company when they visit your site and see that the latest blog / news article update was several years back? Timely, relevant, engaging content promotes thought leadership.
  • How does a customer feel when they have to search a website just to find the mailing address? Have that information on the bottom of every page.
  • How does a customer feel when they have to search to find a phone number because your employees don’t include it as part of their email signatures?

If you are looking for ways to improve your customer’s experience, please reach out to me. I’m happy to schedule a short call to discuss this with you.

Some Quick Thoughts on Customer Retention

I firmly believe that if print providers want to grow their sales, the first order of business should be a greater focus on client retention efforts. A marketing strategy that places a greater emphasis on client retention than on new client acquisition will yield the greatest results.

I’ve included my thoughts to accompany some interesting statistics below.

  • Acquiring new clients costs 5 times more than retaining existing ones.
  • 68% of customers leave because they perceive you are indifferent to them1. Customers need constant assurances that their business is appreciated. Your competition is doing all they can to make them feel wanted. How do your retention efforts stack up?
  • 50% of people prefer the convenience of electronic interaction over face-to-face2. Do you have an effective online strategy for staying engaged with existing clients?
  • A 5% increase in customer retention can increase profits by 75%3. Wow, think about the cumulative effect of that.
  • Repeat customers spend 33% more than new customers4. If you’re a printer, think about how much easier it is to promote additional services once you have established trust.
  • If you resolve a complaint quickly, 9 out of 10 customers will do business with you again. See next point.
  • Almost 50% of people are less inhibited about complaining once they get online. How many printers have an online (email, landing page) customer satisfaction process that they utilize for each completed job?
  • 80% of companies believe they deliver a superior customer experience but only 8% of their customers agree.5 This one should floor you. Printers should note that the customer experience often starts with your website.

The most effective way to retain customers to not lose touch with them. Stay engaged electronically, with print and in person. It just requires a plan and a commitment. If you would like discuss customer retention marketing strategies, please reach out to me anytime at pat@greatreachinc.com.

1retentionofcustomers.com, 2emarketer.com, 3bain.com, 4Laura Lake, 5Bain & Company from Harvard Management Update