Facts you need
to know
in order
to grow your
business during
the downturn
"Research has identified that 46% of online buyers
research online to purchase offline, while 27% research
offline to buy online and 17% do both - And the numbers
are continuing to grow every month".
Ernst and Young
The above information gives evidence that the Internet can also be viewed
as a supplement to traditional storefront purchasing, rather than as a
competitor. This ability to shop, research, and view potential purchases on
the Internet empowers customers and accelerates their purchase decisions.
"Email is currently one of the most efficient and profitable
forms of online marketing. The Direct Marketing
Association recently conducted and published research
that suggested for every pound spent on Email Marketing
in 2007, it would yield a further £48.29 in return".
Direct Marketing Association
A typical email campaign can generate a response of between 5%-15%.
Most of which takes place within three days. Emailing existing customers is
permission marketing at its best, generating sales and enhancing the profile
of your business.
"A study found that firms that successfully market
during a recession place a strategic emphasis on their
marketing, embody an entrepreneurial culture, and
posses resources that can easily be deployed".
Arvind Rangaswamy Penn State Business School
It is tempting to look to cut the marketing/advertising budget during a
downturn in the expectation that revenues will fall. It is in fact preferable
to view your marketing as a revenue generator and that cutting would be
illogical. Instead look to reposition your marketing efforts and get better
value from your budget by negotiating deals with your suppliers.
"People are 5 times more likely to click through to your
business website if you display a picture or graphic in
your online business listing".
SearchEnginewatch.com
Give your online listings a visual advantage by incorporating a colour graphic
of your logo or a photograph along side your contact details.
"Even with the emergence of online advertising, research
has proven that six in 10 consumers would prefer to be
initially approached by a company via their letterbox".
Direct Marketing Association
The ability of the door drop to create Doormat Impact and place your
promotion in the hands of potential customers in their own homes is the
distinctive feature that sets it apart from other forms of media.
"For an average business the cost of selling to a brand
new customer is six times higher than selling to an
existing customer” Christopher Puetz".
The Web Hosting Manager
Customer retention is essential, as is trying to always enlarge the size of
each transaction from your existing customers. The enhanced turnover from
repeat business will justify the time and expense of running a customer
loyalty program.
"48% of consumers visit a shop, send for information or
buy a product after receiving a door drop".
Direct Marketing Association
Building awareness of the goods or services that your business offers is
generally viewed as a process not an event. However, targeted
promotional material delivered via a door drop can give your business
an immediate boost.
"In the UK there are 191 million people looking for
businesses and services online every month".
Internet Advertising Bureau
How can a local shop, or any business, that depends on footfall (customers
coming through the door) turn these web-surfers into customers? The
answer is that local search marketing must be an essential component of
your overall marketing strategy. If you do not already have a website at
least get listed on one or more local directories. A basic text listing is a start,
however it is of real benefit to be able to upload your own pictures and text,
so that surfers can see what you are all about.
"More than 36 million people in the UK own or have
access to a mobile phone and a 100 million text
messages are sent every day. From a marketing
perspective it is worth noting that SMS text messages
prompt a response rate of between 5-28%".
NOP
Marketers have rapidly identified that mobile marketing is a media that
allows direct, personalised, interactive and targeted dialogue between
businesses and consumers via text messaging. As with other direct
marketing mediums, marketing via SMS can increase sales and have a
positive effect upon customer relationships. A SMS text marketing initiative
to existing customers is a cheap and effective option if the principles of
permission marketing are followed i.e. customers need to have explicitly
indicated an interest in receiving such messages.
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