Here are some ideas that are proven to give your marketing campaign a jump.
- Look at your clients and focus your marketing on the most profitable clients – There is something called the 80 / 20 concept. This concept when applied to your client base will show that 80% of your profit will come from 20% of you clients. This will also show that 80% of your cost will come from 20% of your clients. The thing that will surprise you is the will not be the same group. If you focus your efforts on the clients that bring you the most profitable business you will gain an immediate profit increase.
- Repeatedly make high quality presentations to your most profitable clients – Focus on your most profitable clients. Make sure you are marketing to them on a regular basis. This means at least once per quarter you should have contact with them in some way. This does not always mean you are selling them anything. Many times you should just touch base with them. Learn about their business and its challenges and obstacles.
- When competing against a very strong competitor position yourself as the logical second choice – There are going to be times when a potential client is happy with their current provider. Make sure and position yourself as the second choice in the market. Don’t talk about the current provider in a negative way. Focus on the services that you provide. Stay in touch with the potential client. When the client needs a replacement then you are positioned to take over. This is a process. It is not going to happen overnight.
- Keep existing clients happy – Your existing clients are going to be your best source of prospects. Your cost of acquisition is going to be lower. They will be more inclined to buy more from you if you have done your job. Ask for referrals. Do your homework to find out who your existing clients do business with. These are going to be natural referrals. Have a list of these names and ask your client for an introduction. Simply asking for someone to talk to will not be as effective as providing a feeder list of names.
- Consistency creates trust and familiarity – Keep your message consistent. Know who you are and who you want to be to your clients. Work within a sustainable budget and stay within that budget. Work or building your brand so that everyone knows who you are and what your company is about.
These steps will work for you to build your market share. Make sure and have a plan. Set goals. Know what you want to accomplish. Keep to the plan. These steps take a commitment. Without commitment the plan will surely fail. When you follow these steps you will begin to see you market share increase on a steady basis. This is a long term commitment and will not happen overnight.
Originally posted 2014-02-07 11:40:48.