How To Use Follow Up Marketing To Uncover Increased Profits

Hidden Profits
How To Use Follow Up Marketing
To Uncover Increased Profits
At Your Business
www.losangeleswebstrategies.com

A G E N D A
1. How to find the hidden profits in your business
2. Four keys to success in getting those profits back
3. Strategies, tools, and techniques to use
2

Every business has untapped profit
centers that are hidden in plain sight.
3

In my experience, most businesses are not
maximizing the opportunity to resell, cross-
sell and upsell customers that they already
have.
5

Most businesses focus almost exclusively
on trying to get new customers.
6

What’s wrong with this approach?
(Three things)
7

1. Getting new customers is harder than
getting existing ones to buy again.
8

2. It’s usually more expensive. And …
9

3. It’s s l o w e r .
10

11

Start with maximizing the revenues and
profits you are getting from your existing
customers.
13

STEP 1 (of 3)
Focus on building your list of paying
customers / clients.
16

Grow your list using …
 Fishbowl
 Social media
 Website
 SMS
18

Capture everything
you can when building
your list.
 Name
 Email
 Phone number
 Physical address
 Birthday
19

STEP 2 (of 3)
Communicate to that list frequently & include
revenue-enhancing offers.
20

Birthdays
Holidays
Anniversaries
Coupons (they’re always in season)
Appointment reminders
21

Communicate using a variety of media.
Email, SMS, direct mail, social media, etc.
22

Include offers.
23

STEP 3 (of 3)
Create resell, upsell, and cross-sell
opportunities for your products.
24

Resell
Get customers to buy more of what they are
currently buying.
25

Upsell
When they buy, present them with a
“premium” version at a higher price.
26

Cross-sell
Introduce them to complimentary products
and services based on their previous
purchase history.
27

4 K E Y S T O S U C C E S S
Using Your Current Customer List to
Grow Your Revenue in the Next Year
28

1. Make it a consistent process.
29

3. Give your team incentives.
31

4. Make it easy using marketing technology.
32

Let’s talk about marketing technology …
33

Specifically:
1. EMAIL
2. SMS,
3. DIRECT MAIL
4. SOCIAL MEDIA
34

E M A I L M A R K E T I N G
35

[ W H Y U S E E M A I L ? ]
36

People are very receptive to email if it’s
relevant and generous (they love discounts
and special offers.)
37

Email still delivers the highest ROI of all
digital channels. (>$40 per $1)
38

Fast
Easy
Cheap
Can be automated
39

Send a monthly e-newsletter.
Provide useful information, demonstrate
your expertise, add value to the relationship
and encourage loyalty.
41

Mail at least once per week.
42

S M S / T E X T M E S S A G I N G
43

87% of Americans have mobile phones and
73% say it’s their no. 1 most-used
technology device.
45

nomophobia: n. the fear of being out of
mobile phone contact.
46

The average user spends an average of 2
hours a day on their mobile phone.
47

Almost 66% of smartphone users admit to
sleeping with their phones.
48

6,100,000,000,000:
number of text messages sent/received in
2010. SMS traffic is expected to reach 9.4
trillion by 2016.
49

SMS text messaging has a 98% open rate;
95% of messages are read within
four minutes.
50

Permission is mandatory.
Strong offers are essential.
52

Appointment reminders can reduce no-
shows by up to 50%.
- Mobile Marketing Statistics 2012
53

Mobile coupons are 10x more likely to be
redeemed than traditional coupons.
- Mobile Marketing Statistics 2012
54

D I R E C T M A I L
55

[ W H Y U S E D I R E C T M A I L ? ]
56

Direct mail expenditures have grown to over
$50 billion, a 4.6% increase from last year.
57

“Even though direct mail seems old school,
it’s really sexy for the marketer, the reason
being that there’s less clutter. So you get
more effective impressions.”
– Dave Scott, CEO of Marketfish
58

50% of U.S. consumers prefer direct mail
to email, and 60% said they enjoy checking
their physical mailboxes.
59

We have an “emotional connection” to
postal mail.
60

[ D I R E C T M A I L T I P S ]
61

FedEx envelopes:
Expensive? Yes.
Effective? Very.
63

Personalize it.
72% of recipients will open a
handwritten envelope.
64

Always make offer.
And include a clear call to action.
Follow up by phone.
66

Rinse and repeat.
(Don’t just send one card and call it a year.)
67

S O C I A L M E D I A
69

[ W H Y U S E S O C I A L M E D I A ? ]
70

Social media use has grown by 712% since
2005. And not just among the kiddos …
71

66% of adult Internet users use social
media.
72

72% of U.S. consumers research
companies through social channels before
making purchases.
73

59% of U.S. consumers use social sites to
vent about customer care frustrations.
46% of U.S. Internet users feel they can be
brutally honest on the web.
38% aim to influence others when they
express their preferences online.
74

[ S O C I A L M E D I A T I P S ]
75

Engage and interact.
Social media is about having
conversations, not monologues.
76

77
Have a business page. 85% of consumers
expect businesses to interact with them via
social channels.
- Cone business in Social Media Study

Add value.
Use social channels to share tips,
discounts, and gain trust.
78

79
Make educational
videos and post
them to YouTube.
50x- Forrester

Advertise.
Facebook’s ad platform offers really cool,
cost-effective ways to to reach your
audience and tap the power of social proof.
80

Advertise.
81

1. Mine your backyard.
Maximize the value of your existing
customer base.
83

2. Build your list.
Collect as much info as you can.
84

3. Design resell, upsell and cross-sell
offers into your sales process.
85

4. Reach out to your list regularly with
offers, insights and expertise …
86

5. And use multiple channels to do so …
87

5a. high-ROI channels like email, direct
mail, social media and SMS.
88

Confused? Overwhelmed? Excited?
We can help!
89

Questions?
90

We’d love to help.
• Just get in touch!
(213) 607-9100

How To Use Follow Up Marketing To Uncover Increased Profits

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