Marketing Matters from The Marketing Centre is our initiative to provide SMEs with tactics that can be implemented now - it plans to offer insight, hints and tips from our 90-strong marketing directors as well as examples of businesses doing great things.
Customer retention versus customer acquisition: It’s a battle for the ages. We know that maintaining loyal customers can be easier and more profitable than finding new ones. Yet, many businesses still commit more resources to acquisition. It is very important that you balance your focus on customer acquisition and customer retention. Your loyal customers provide the most lifetime value, after all. So, while others work themselves to the bone trying to create leads, you can come up with an effective retention process.
A lot of people think that marketing is solely concerned with long-term growth. If you need short-term financial fixes, they say, you need to turn to sales. Marketing is not only a long-term growth strategy. And sales is not only a short-term financial fix. It is true that marketers do look at the bigger picture, but they can definitely also help businesses see an immediate positive change. A digital campaign, an emailer, a well thought out promotion - these are designed to have an impact on your sales pipeline in a matter of days or weeks.
Introduction Every business wants to grow, but not always for the reasons you might think. For many business owners, the ultimate purpose of growth is to place their company in an attractive position to sell. Because this is the goal of many of the business leaders we partner with at The Marketing Centre, it’s also become an important consideration for our Marketing Directors.
How and where are you selling your product or services? This is your route to market. And it's just as important - if not more important, than your product itself. Your route to market needs to work for your customer, and the best or right one, is the one that makes it easiest for a new customer to find you... if you get this wrong they'll go straight to your competitors and buy from them instead. In todays marketplace it is easy to get left behind or put yourself in danger by sticking to only what you've always done or known. It's a good idea to take new opportunities, find new channels or routes to market and gain more market share.