The Most Often Overlooked Source of Revenue

Posted on: September 16, 2013 by in Uncategorized
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The Money Is In The List

Marketing gurus have long said that “the money is in the list”. They are, of course, referring to customer and prospect mailing lists. Since many small businesses don’t make use of or even have a mailing list, it must be a secret that communicating with customers and prospects is the crux of a healthy business.

Following is a list of the many profitable uses of a mailing list:

  • You can market on a mass scale instead of only to those who happen to be doing business with you this week/month.
  • You can survey your lists to understand more about them and their needs and where your company is falling short.
  • If you know which customers buy which products/services, instead of the shotgun approach, you can do very targeted marketing, increasing your return on investment.
  • You can monitor attrition (customer loss) and try to win back lost customers.
  • You can exchange lists or rent or sell your lists to other related but non-competitive businesses as a source of new revenue.
  • You can educate your customers and prospects on a mass scale to maintain healthy relationships which will greatly improve customer loyalty.

 

Existing Customers Are Low Hanging Fruit

As you can see, there are many inherent opportunities in a mailing lists that are, sadly, overlooked by the majority of business owners. It has been proven that getting a new customer is many times more expensive than keeping an existing one and by the same token, improving sales is much cheaper and easier utilizing a list of existing customers than trying to sell to new customers.
 

Technology Makes it Even Cheaper and Simpler

There really couldn’t be a better time to have customer and prospect lists since, with the advent of the internet and digital technology, communicating with them can be largely automated and the cost reduced significantly using a blog, email and/or social media.
 

Start Today

If you don’t currently collect customer and prospect information, start today. You may need to offer a small incentive such as a discount or a chance to win a prize in a raffle. Get creative. If you offer them value, they will be happy to give you their information. If you already have a list but aren’t utilizing it, put a plan into action to start communicating with your customers and prospects and, if done right, I guarantee it will have a positive impact on your bottom line.
 

Don’t Have the Time to Figure it All Out?

To find out how we can help you to start building or utilizing your own mailing lists, click here or call us at 219-670-6706.

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