Selling via email? Absolutely – but use these tips for success

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Communicating with sales targets via email was probably not an option for your parents’ generation of workers. Yet email is a crucial tool for today’s salesperson. But these days, as we know too well, it’s impossible to read all incoming emails. So only “smart” emails will make it through your prospects’ filter.

Here are a few tips on how to craft and send emails that actually get read:

Best time to send:  According to Mailchimp, most emails are opened at the end of the workday, between 2:00 and 5:00 p.m. So, send emails in the afternoon to be first in line. A study by Experian shows that the most emails are read on Tuesdays. Why? Maybe because the Monday rush has passed. Maybe people are moving toward a four-day work week, whether their companies approve or not. Whatever is happening, send your most important sales emails on Tuesdays if possible.

Choose subject lines carefully:  Studies also show that the subject line makes or breaks an email: 35 percent of people decide whether to open an email based on the subject line. So a “cold call” email has got to have a short, interest-catching subject line.  Email open rates drop by 60% when the subject line is more than three words, so keep it short and concise.

    • There are also certain words in a subject line that increase the likelihood of it being opened. It may seem unoriginal, but words such as “alert,” “new,” and “free delivery” in the subject line (not only those words, of course) seem to pique recipients’ interest. Of course, the subject line should match the email content. Interestingly, words like “report” and “learn” in the subject line are likely to get your email escorted to the trash bin – perhaps because they allude to committing time that people just don’t have!

Content that inspires action:  Now we come to the content inside the email. The message should be friendly, concise, and action-triggering. It should have helpful information: why your product or service is better, what you want the recipient to know, what you want them to do next. People are busy; if it isn’t relevant to the receiver at the time, it’s clutter, no matter how fabulous you are. Give them a reason to reply!

So, send sales emails – but send smart sales emails. And think before you send each one. The last thing you want to do is flood someone’s inbox until your name equals “Junk Mail” in their mind.

3 Things Every Business Owner Should Know About Marketing

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#1 What Is Marketing?

This is a question that can inspire lengthy discourse and an entire day’s worth of discussion in Marketing 101 courses around the world. Many consider marketing to be the art and science of positioning your business and your product or service in the marketplace, creating a brand identity, and promoting awareness. I wish that I could get all of the academics to agree on my simple definition: “marketing is all the things a business does to create sales opportunities.”  It really is that simple.

Some people think that marketing is limited to those initiatives that you spend money on—advertising, websites, brochures, direct mail, public relations, and signage. Truthfully, all of these elements should fall under the umbrella of “marketing communications.”

While these are essential components of a complete marketing program, of much more importance are the marketing planning activities that come well before these programs are implemented. For example, some essential planning activities include:

  • Developing a value proposition and knowing if/how it changes by customer segment
  • Knowing your target audience—those customers most likely to buy your product or service
  • Creating a profile of your ideal customer that includes prospects’ habits, demographics, personality traits, and their wants and needs
  • Analyzing competitive strengths and weaknesses
  • Selecting the right channels through which to deliver a unified message

I can go on and on here, but the key point is that like anything else, when you do your homework before jumping into action, you’re more likely to generate the results—and return—you’re looking for.

Hint: companies that try to offer something for everyone often end up selling little to few.

#2 What Does a New Customer Cost?

Believe it or not, I come across very few businesses that track this metric, and quite frankly, it’s very important as well as easy to measure. You can calculate the cost of a new customer by totaling all of your marketing spending and then dividing that number by the number of new customers acquired. When you do this, you understand why many businesses fear the advertising man or marketing consultant because this number clearly shows that advertising doesn’t pay. Acquiring a new customer is far more costly (estimates range from a factor of five to a factor of 10) than keeping and advancing the relationships you already have.

Hint:  If you’re selling to customers one time only and you have not defined other revenue streams, it’s much more difficult to get a positive return on your promotional investments.


#3 What Is a New Customer Worth?

I’m not talking about how much profit you generate from the average customer each time he or she chooses to do business with you. Instead, I’m referring to the lifetime value of a customer. This metric is much more difficult to measure, or even to estimate. Why; because it requires very good tracking of individual customers.

Whether or not you are able to track specific customer visits and spending, the nugget of wisdom embedded in the notion of customer relationships is that building customer loyalty is valuable. There is a very strong correlation between long-term business success and long-term customer relationships. Successful marketing strategies nurture every stage of the customer lifecycle—from acquiring new customers to increasing loyalty to up-selling, cross-selling, and advancing relationships to increase customer lifetime value.

Hint: I recently received a $25 gift card from Starbucks for being a good customer. How did they know I was a good customer? They track how often I visit and how much I spend, since I put most of my purchases on a prepaid debit card. How much do you think that gift improved my loyalty to Starbucks? And what did that card really cost them?

Want to Lead the Pack? Create a New Category for Your Product

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by Michael Iverson

Every so often, I am surprised by a company that dramatically changes its industry. And, I wonder to myself: How did they do it?

My business reading list this year took me to a business classic called The 22 Immutable Laws of Marketing.  The authors, Al Ries and Jack Trout, provided an answer to my question.  They wrote about creating a new category for a type of product or service that’s already being sold.

How It’s Done

As an example, Ries cited the introduction of the Michelob brand of beer years ago.  For a number of years, American brewers envied the success of Heineken as a premium import brand commanding top dollar.  The marketers at Anheuser-Busch decided to develop a premium domestic brand category in hopes of replicating Heineken’s success.  Michelob became the premier domestic brand, and it transformed the way beer was marketed in the U.S.

Law 22 of The 22 Immutable Laws of Marketing is the “Law of Category.”  It suggests that if you can’t be first in your category, you ought to create a new category for which you can be first.  It sounds crazy, I know, but it works—and here’s why.  Marketing consultants will tell you that surprisingly few people are interested in a product that supposedly improves upon the established leading product in a category.  On the other hand, everyone is interested in what is new.

By creating a premium domestic category, Anheuser-Busch used its talented marketers to define the category and portray the lifestyle that went with it. They succeeded in a big way, achieving an upscale pricing structure that far exceeded the dreams of most domestic brewers.

A more recent example with which I am familiar is the Under Armour brand of athletic wear.  For years, I had used the products of a company called Pro Player, which made underwear and socks for athletic use.  Its products were used by football players and other athletes, but Pro Player never really became a household name with the general public.

Under Armour created a new category in the same market space by incorporating “wick and dry” properties into its products.  A challenge for athletes is to remove substantial amount of perspiration so it doesn’t hinder a competitor’s performance.  Cotton garments tend to trap that moisture. Under Armour developed a means of dissipating the moisture.  In doing so, the company became the leader in a new category: athletic wear that stays fresh and dry.

Its marketers made the most of the products’ functional advantages, but also began to describe the company’s apparel as “attitude clothing.”  Can wearing athletic gear really change a person’s attitude?  Yes, if the wearer believes it can.  Under Amour played up the idea of its customers being underdogs and fierce competitors.  It captured the company’s place in the broader sports apparel market, as well as the aspirations of its customers.

Can It Work Locally?

Okay, so there is evidence that creating a new category works at the national level. Do the same principles apply to a local or regional business? I believe they do.  In metro Atlanta, a dental practice created its own category years ago by re-branding as “The Gentle Dentist.”  It definitely captured the attention of people who were afraid of dentists.

Here’s another example:  After years of hearing about $30,000 kitchen renovation projects, along came Frugal Kitchens & Cabinets to meet the needs of homeowners who didn’t have big money but still needed to update their kitchens. The business reached a whole new group of buyers by focusing on the less affluent market sector.

The opportunity exists for any business to create its own category and improve its fortunes. If top-line revenue growth is your challenge, ask Trillium Financial how to re-position the business to attract new customers.

The Hidden Cost of Doing Nothing to Market Your Business

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by Tara Lamboley, CEO of REV Demand

Oftentimes I am asked “Who is your biggest competitor?”  And I always answer:  “Indecision.”

It’s quite true that the biggest hurdle we at REV (and I suspect many of you) must overcome in converting a prospect to a customer is to get that prospect to decide to do something, to make a change.   It’s often not the case that the prospect decides to business with another company—it’s that they don’t decide to do anything at all.

In his article “The Cost of Doing Nothing,” Michael Lippig of IDCON, Inc. asserts that:

“The cost of maintaining the status quo for professional services business owners is enormous. The status quo affects each and every one of us every hour of every day, at work and at home. We have come to accept doing nothing as a safe and acceptable alternative. We even make it the default solution.”

So why do business owners who want to grow their businesses default to doing nothing?  There are many reasons we can recite, including lack of money, lack of time, lack of desire, unsure of what to do, etc.  If we do nothing, it seems like a safe choice that protects our valuable time and resources.

However, there is a hidden cost, as Lippig writes:  “Doing nothing is the management equivalent of a baby’s pacifier. It makes us feel safe and comfortable. But there is a cost to doing nothing. Economists and accountants frequently refer to it as ‘opportunity cost;’ what you could do yourself with your resources if you were not doing what you are doing right now.”

By doing nothing different this quarter than last quarter with your marketing, you can be sure you will cost your business the following:

  • Your e-newsletter, direct mail, social media updates, prospecting emails, etc. will not go out, and so your prospects will get colder
  • Your customers—past, present, and future—will not hear from you enough to make repeat, expanded, and new business a consistent reality
  • You won’t build your reputation online and offline as an expert in your field that prospects must seek for solutions
  • You won’t invest in that training to make yourself that much more knowledgeable in your field of expertise
  • You won’t connect with strategic partners that can expand your sales capabilities
  • You won’t get off the unending roller coaster of project work and cyclical sales

Make no mistake:  When you decide to do nothing about marketing your business, you are still making a decision.   You are deciding to stay where you are and not grow your business.  You are saying you are comfortable with your current income, profitability, and lifestyle.

Of course, sometimes doing nothing may be the best decision for you at this time.  If you have other life priorities that need to take precedence right now over growing your business, it makes sense to maintain the status quo.

However, if you are ready to grow your business, then you have to start doing something to push your business forward (i.e., marketing) and/or stop doing the things that hold you back (i.e., not marketing).

Need help?  REV Demand offers a free, 1-hour, no-obligation assessment of your business development capabilities (including current marketing strategy and tactics as well as sales goals and processes).  We’ll help you build a plan of action to grow your business.  Contact us for more information.

Marketing Strategies for a New Economy

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by Bernadette Peters, Natural Marketing Services, LLC

What an interesting time to be running a business?  Everyone is trying to speculate about what is going to happen in real estate, with gas prices (and the shortage), the election and in the economy overall.  Small businesses are responding in a variety of ways . . . some are ceasing all extraneous spending . . . others downsizing . . . and many are “hitting the streets” in an effort to boost their sales.

We can’t throw in the towel – small business is still the fiber of our economy . . . but now is an even more important time to make some smart marketing decisions.  Below are a few key principles to help your business continue to thrive in the midst of tricky times . . .

Retain, cross-sell, up-sell

We all know that the most time-consuming and costly part of marketing is capturing a prospect’s attention, and then building trust so they will buy from you.  Marketing analysts say that the cost to acquire a new customer is 5-10 times greater than to retain an existing customer.  So why not spend your time and resources keeping your existing business, cross-selling to your current customers and encouraging former customers to buy again?  You already have a good bit of contact information, a buying history and hopefully some other knowledge about them.  Use this to re-connect, stay in touch and demonstrate the value you bring through your products and services.

Promote products/services people need in this economy.

Think about the products or services you offer that save your customers money, increase efficiency, simplify life and can contribute to their key values.  Focus on promoting those products and services rather than your entire inventory.

Give them a “taste” of what you have to offer.  Consumers have become a lot less risk-tolerant.  They want to get a sense that their purchases will count.  We are seeing fewer impulse buys and more calculated, well-thought out purchases.  You may want to consider breaking down your offering into a more appealing price point – a massage therapist may want to offer a 30 minute massage rather than the typical one hour . . . an IT services provider may want to put together a package of computer services with specific diagnostic and service deliverables the will speed up the performance of the computer for a flat rate.

In prospecting, build trust, go deep

As you pursue new prospects, your approach is what matters most.  Since we see and hear over 3400 marketing and advertising messages each day, it is difficult for a business to capture a prospect’s attention to get them to make a purchase . . . especially in this economy where people are more careful when parting with their money.

When promoting your products or services make the investment in time or money to generate an attractive, professional design and compelling message.  The call to action should require very little risk on the part of your prospect.  Get them to take the next step by offering valuable information or free or low-cost “samples” of what you do.  In this economy, consumers won’t make a decision by simply seeing an ad or mailer . . . you’ve got to go for the easier close, and build a relationship with a prospect through multiple steps.

Focus on the personal touch

Historically, challenging economic times have precipitated a return to core values and close relationships.  Personal connections with clients and prospects will prove to be an effective strategy when marketing your business.  Networking, phone calls, face-to-face meetings and hand-written cards bring the personal connection in our media saturated world.  The idea of doing that might seem daunting, but when integrated with your traditional communication and promotional programs, you can be both effective and efficient.

We are seeing a return to the traditional “drip campaign” where calling programs are integrated with mailings and email to individuals.  Natural Marketing Services has partnered with a direct marketing company called, Telesales, Inc. to provide these types of drip campaigns for our clients, as well as lead generation programs, customer retention, surveys and studies.  They have also seen a return to personal touch with their clients as the economy has changed.

Most importantly, you can’t spend too much time watching the news and listening to all the analysts’ opinions about the economy!  Your business makes a contribution to the economy too, and now is the time to focus ON your business, your customers and your prospects.

If you are interested in scheduling a low-cost marketing strategy session to jump-start your business, call Bernadette Peters from Natural Marketing Services at 678.643.3899.