Momentum — Marketing is soooo easy! (or is it?)
Alright, alright, alright. I know guys. I messed up. I might have missed yesterday’s posts but it’s nothing to worry about. I’m determined to reach my goal of writing 60 articles in 30 days. Even though I’ve failed my initial plan, it’s no reason to throw in the towel already and give up. I’ll try to make the best out of it and I might even be able to forgive myself if I reach my initial goal anyway. For this reason, I’ll dedicate this Saturday, a whole 16 hour session, to research and writing. I’ll see how far I come and will post the missed articles over the period of the next week, meaning some days will include 3 posts per day. This being said, let’s start into the new project I’ve picked out of the sea of ICOs.
In the fast paced digital world we live in, successful marketing campaigns are getting harder and harder to launch. Often times the return of investment is just not there to properly run some campaigns, due to poor data or poor execution. Whatever the reason may be, a lot of marketing budget is wasted. I’m sure some of you know the famous quote of John Wanamaker about advertising:
Today’s marketing world is one of the most drastic changing industries out there. Even though the main principle of catching people’s attention stays the same, the ways of doing so certainly change rapidly. However, once getting the much needed attention and potentially converting the person into a customer, another challenge arises: Keeping the customer and building a worthy customer relationship.
To give you some practical sense of what I mean by this, picture this: You’re online shopping and on the lookout for a certain type of shoes and find two pairs of different brands. Because your latest ICO investment did well (thanks to your thoughtful research), you decide to purchase both of them and call it a day. After a while, you receive an email with a thank-saying and a discount code for another purchase of one of the two shoe brands you purchased earlier. Another few weeks pass and you receive another coupon code, saying that you’ve been missed at the online shop and they would be happy to see you back. Fast forward another few weeks, you receive a nice little reminder and a fitting description of new shoe trends that fit your style which are trendy for the upcoming season for which you were planning to buy another pair of shoes anyway.
So, here’s my question to you: Which of those two shoe brands will you be more likely to purchase again? The one’s that didn’t follow up at all, or the one who offered you several discount codes, sent you nice reminders and great offers that fit your style? Exactly — the second one.
This is what after- sales marketing is and it’s more important than you think and only a part of the journey to a high quality customer loyalty.You know, in the marketing world there’s another saying stating that acquiring a new customer is ten times more expensive than keeping an existing one. And this is certainly true. Once you got someone to buy from you, you still have to put in the effort to keep him as a loyal customer. Investing in building a good customer loyalty is surely cheaper and more efficient than generating more and more one-time-customers.
But it’s certainly not as easy as I made it out to be, as we will learn in the next article!
