Need a Little Motivation…

“Entrepreneurship is living a few years of your life like most people won’t so you can spend the rest of your life like most people can’t.”
~Anonymous
December 10, 2009 No Comments
Does it pay to attract new customers?
Yes, but not nearly as much as it pays to keep current customers. Industry statistics suggest that:
- getting new customers can cost 5 to 10 times more than keeping a current customer
- repeat customers, on average, spend up to 67% more than new customers
- 80% of total revenue comes from 20% of your customers
I know that often marketing seems easiest from a new customer standpoint, as we fall back on optimizing for SEO and setting up our google adwords campaigns. But if the statistics above are true, we can make better use of our time and money by focusing on the clients and customers that we already have. That’s not to say that good SEO and advertising for new clients doesn’t have it’s place, just that it should take up the proportion of your time and money that it’s benefit deserves.
If you start to analyze your current customer base, you will be able to determine any trends and identify whether the 80/20 rule holds true for you. If your return customers are the bulk of your business, it makes sense to spend more time and money to create programs and incentives just for them. Your business can be tailored to maximize these repeat customers.
Keeping in touch with current customers might involve:
- newsletter marketing campaigns
- social media outlets (think Facebook and Twitter)
- holiday and birthday emails or cards to say thanks, with or without a special discount
- loyalty rewards programs
- affiliate programs
- surveys of current customers to rate their satisfaction or determine future needs
Your current customers will appreciate the special attention they receive for being your customer. And, because they already know that you have great products and great customer service, they are more likely to head back to you rather than seek out someone new.
December 7, 2009 No Comments
5 things you can do right now to market your online business and make sales happen
Send out a newsletter – if you have a mailing list service, then you are already ready to go. Create a promotion, add in a useful tip or two (maybe a new blog you found, color or fashion trends for the holidays – something that your readers can use) and highlight some new products. If you have your mailing list already setup this can be done in about 30 minutes. If you don’t have a mailing list service stop what you’re doing and set one up. There are several to choose from and they range in price from nothing to a lot more than that. We use and love Constant Contact and highly recommend them, but, do a google search for email marketing service and you’ll have plenty to choose from. Make sure that you have an opt-in only list to stay within current spam mail regulations.
Sign up and start using Twitter - remember, Twitter is a give and take. People are on there to market what they are selling, but also because they want to find out what you are selling. If they are interested in your product, they will follow you. Reward them by passing along useful tweets from others on your list and also announcing sales, promotions and events for your own store.
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November 25, 2009 No Comments
Feeling Like a Twit
Do you ever feel like technology is leaving you behind? I can be pretty hip and in the know (or at least I like to think so), but I’m not really so sure about the whole Twitter thing. Seems to be taking over so I’ve decided to just jump on in and pretend like it all makes sense. Honestly, I just recently started utilizing the text feature on my phone (ok, maybe in the know but not so hip), and only with a few select friends, it’s hard to imagine myself texting on the micro-blog format that is Twitter. I do have a Twitter account, and I have posted, but my posts never seem to be that relevant and I sometimes worry that my small amount of followers might actually drive people away. Does this sound familiar to anyone else? I can’t be the only one having trouble embracing what seems to be an amazing marketing tool when utilized correctly.

I set out to do some research. The only thing I’m clearly sure of right now is that I still don’t get Twitter, but I’m willing to give it a try. A test run so to speak. I found several resources that do a nice job of explaning how to use Twitter – my favorite is this one – clear, concise and not too long – Tweeternet. I also liked the Twitter Handbook. And of course there is always Twitter itself – and it’s very informative Frequently Asked Questions section – the FAQ.
November 9, 2009 No Comments

