Q:
We're assessing our marketing results for 2003 and are trying
to figure out why we didn't put more sales on the board. We
relied exclusively on direct mail and followed up by phone with the
leads we generated. Most mailings produced a positive return, but I
still think we could have done much more. What can we try in the
coming year to improve our sales?
A:
With the new year just around the corner, this is a great time to
break out of your old mold and adopt new marketing tactics that
will help your company grow. Not only will it make life more
interesting for you, it's just plain smart. You see, it takes
multiple contacts with prospects--some studies say as many as eight
are required--before a sale is closed. Of course, the actual number
of contacts will depend on your industry and what you're
marketing, but it's easy to see why a program that relies on a
single tactic will fall flat.
The best marketing mix reaches your prospects throughout all
phases of your sales cycle. So don't be a "Johnny one
note." If you focus exclusively on direct mail or PR, for
example, at the expense of other tactics, you'll lose prospects
along the way. And it's often essential to combine marketing
tactics with sales for that final one-two punch.
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Turn Cold
Prospects Into Customers
At any point in time, your business will have "cold,"
"warm" and "hot" prospects. To visualize how
they become customers, imagine prospects moving through your sales
cycle the way hands on a clock face sweep around from noon to
midnight.
- Cold prospects know little or nothing about your company and
are just being exposed to your message for the first time. They
enter your sales cycle from noon to about 3 on the dial.
- Warm prospects have been exposed to your marketing messages or
are prospects you've contacted using sales tactics, and they
reside from about 3 o'clock to 8 on the dial.
- Your hottest prospects have either passed through your sales
cycle or come to you as referrals. Imagine they're advancing
toward closing as they progress from about 8 to midnight.
Mix It
Up
To create an effective marketing program in the new year, adopt
multiple tactics that reach out to cold, warm and hot prospects on
a continuing basis and usher them through the sales cycle. To find
the right mix, choose at least one tactic from each of the
following groups.
- Advertising media, including print, out-of-home and broadcast,
plus online ads and search engine listings that are linked to your
Web site.
- Direct mail and e-mail solicitations to rented lists.
- Public relations tactics, including media relations, seminars,
bylined articles for publication, special promotions and
events.
Warm prospects respond to:
- Ongoing advertising campaigns that build on an established
theme in print, broadcast and out-of-home media as well as
online.
- Direct mail, e-mail newsletters and solicitations to your
in-house database.
- Public relations activities, including bylined articles and
customer/client events.
Motivate your hottest prospects with:
- E-mail and direct-mail solicitations and catalogs.
- Interpersonal contact--whether by telephone or in person. This
adds the final heat required to close sales.
For best results in the new year, choose a group of tactics that
reach your prospects no matter where they are in your sales cycle.
Just remember to mix things up to create a well-rounded campaign
that motivates prospects at all levels.
Kim T. Gordon is an author, marketing coach and media
spokesperson-and one of the country's foremost experts on
entrepreneurial success. Her newest book, Bringing Home The Business, identifies the
30 "truths" that can make the difference between success
and failure in a homebased business. Kim offers one-on-one coaching
by telephone to motivated individuals, providing practical
marketing advice and budget-conscious strategies unique to your
business. To receive free how-to articles and advice, get
information on coaching and appearances, read a book excerpt, or
contact Kim, visit http://www.smallbusinessnow.com,
a huge site devoted exclusively to marketing your small
business.
The opinions expressed in this column are those
of the author, not of Entrepreneur.com. All answers are intended to
be general in nature, without regard to specific geographical areas
or circumstances, and should only be relied upon after consulting
an appropriate expert, such as an attorney or
accountant.