The challenge that many companies face is acquiring new customers. You can “shotgun” your marketing by mailing tons of direct mail to a large, untargeted database, but I recommend having a different tactic.
Profile Your Customers
Who are your customers? Who is buying from you? Have you looked at the types of companies that purchase your products?
Do some analysis as to the types of companies or consumers who are your best customers. I recommend that you look at demographics, SIC codes, company size and other attributes. If you understand the profile of our existing customers, you can match their profile and find other prospects that look just like them.
Building Your Acquisition Database
There are several database management services that you can hire to pull company names, addresses, contact names and phone numbers. Some databases may have accurate mailing addresses, but contact information may be dated. Utilizing LinkedIn is a good resource for verifying up-to-date contacts. Find the supplier that can provide you with the best list to reach your target prospects and hire them.
Some database companies also offer email addresses, however it has been my experience that email databases for rent are unreliable. A better way of capturing prospect and customer emails is to offer downloads on your website like white papers that web visitors can get by just entering their email address. You will need to make sure that you offer an opt-out process from marketing emails due to CAN-SPAM compliance rules.
Create a Customer Acquisition Campaign
Some companies really like to use direct mail like postcards, letters and fliers to acquire new customers. Others like to use email, banner advertising on other websites and social media, and Google adwords. I am a strong believer in synchronized marketing campaigns utilizing multiple acquisition techniques. Certain programs may work better than others. A/B testing is another great way of finding out what works and what doesn’t. Keep doing what works and stop doing what doesn’t.
Finding New Customers Outside of Your Existing Customers’ Profiles
In addition to matching existing customer profiles with prospects and attempting to acquire them, there might be a group of prospects that you never thought would be your customers. Market research through surveys is a great way to find out what types of companies or end consumers buy your products or who want your products. For those who have purchased yhour products, ask them to explain how they use your products, possibly even provide prizes for the best ideas. This information might help you target new customers.
You can also do some testing pulling contact information from other SIC codes and mail or email them as well. Track the response and conversion rates for each test. If you discover that a new customer segment is interested in your products or services, expand your reach within that segment through brand and product marketing using direct mail, email, social media and the web.
Conclusion
Profiling your customers to find new prospects, building the prospect database for both direct mail and email, launching the campaign to include the new profiled targets and testing new market segments are all very important steps in acquiring new customers.
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