Many of my customers have often asked my opinion about the best use of email marketing in business to business sales. The discussion starts first with what constitutes email marketing, how it works and how it’s differentiated from spam. It’s that last part that often concerns companies who are unfamiliar with how email marketing works. How is it different from spam?
Well, while spam is merely random emails sent with the mindset of reaching as many people as possible, email marketing is more precise in that it concentrates its message directly to those customers most interested in the information it has to provide. When it comes to small business marketing solutions, this simple marketing tool is inexpensive, easy to manage and has a high marketing ROI (return on investment).
If your small business is looking for an easy to manage and inexpensive marketing solution, then email marketing might be the solution. However, the strategies you adopt with this marketing tool will ultimately dictate success or failure. Here are some guidelines that have worked for my customers.
1. Use Email Marketing With Reward Programs
If you’re a regular visitor to drive-your-success, then you might have read about the importance of having a customer reward program that incentivizes repeat business. With this in mind, one of the best uses of email marketing is to use it in conjunction with these reward programs. Start your own reward program and use email marketing to keep those loyal customers up to date on your most recent product offerings.
2. Use Email Marketing to Liquidate Outdated Inventory
When looking at small business marketing solutions, email marketing can help lower your inventory costs of ownership. As a small business owner, you’ve likely had to finance your inventory with business loans and credit lines. For this reason alone, you’re probably well aware of the high costs of holding inventory for extended periods. So, use email marketing to liquidate outdated and antiquated inventory. Have an overstock situation and need to liquidate inventory quickly? Then take the time to come up with an incentive for customers to buy that inventory.
3. Develop Several Email Marketing Plans
Should potential customers get the same discounts, savings and incentives as your biggest customers? No, they shouldn’t! One of the biggest mistakes in business to business email marketing is to have one marketing plan for all customers. Now, some believe that the best way to get new customers is to offer discounts up front. While this might work with the general consumer, it doesn’t always work in business to business sales. Why? Simply put, you’re providing pricing to the market that can easily be used to drive down your competition’s pricing. In essence, why buy from your company if the customer can just use your price to lower their existing supplier’s price? In addition, you’re not differentiating between your biggest loyal customers and your potential customers. That gets out into your market and will affect your position – guaranteed!
If you’re looking for a small business marketing solution that’s easy to manage, and can incentivize customer loyalty, then email marketing must be a part of your arsenal. The key is to not inundate customers with useless information. Instead, make sure each and every email contains new information.
The best use of email marketing is when you use it to update your most loyal customers on the status of their reward programs, the state of their accounts or to just give them the first shot at a new product introduction. However, be sure to differentiate your approach between you biggest and most loyal customers, and those customers who’ve never made a purchase.
The above video outlines five low-cost marketing strategies. To learn more, please go here.
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