One of the reasons why companies keep a customer database is to send out monthly circulars and advertisements. As small and medium sized business owners, we sometimes don’t have the extra money to just send out these advertisements to all our customers. What we need is a way to maximize our marketing dollars.
There is a rule called the 80/20 rule. 80% of your sales are made by 20% of your customers. So what we need to do instead of sending out the same flyers and advertisements to all of our customers is to send targeted advertisements to them.
For the 20% that make up most of our sales, I would send them a full catalog of what my company has to offer. I would send them coupons and little freebies to show them that I appreciate their business and support. For the other 80% I would break them down into two different groups. Ones who have bought something within the last six months and the others who have purchased something past the six month mark. The six month or less group I would send them coupons and a copy of our services. The others I would send just coupons on a postcard.
With this approach, you are letting the 20% know that you appreciate their business – and because of it, they will always come back. You are letting the six month or less group know they are important and you also appreciate their business and encourage them to come back soon. And the over six month people, you are letting them know you are still there and haven’t forgotten about them and appreciate their business even though its been awhile since you’ve seen them.
Tthe object here is to target each group differently. It will cost you less and it will be more effective.
D.G. Landolfi is the author of The Woman’s Blueprint to Business Success. D.G. has a passion for empowering women and showing them how they can be successful. Check out D.G.’s website at www.icanbesuccessful.com.
