Our Marketing Bible
It is important that once you start to see Return on Investment (ROI) on your marketing campaigns that you don’t forget the other half of this success – that being, retention. You need to retain customers just as much as you need to acquire them.
Post Purchase Cognitive Dissonance
Have you ever purchased a product and then regretted it? Or continually questioned yourself whether it was the right decision? This is ‘post purchase cognitive dissonance’, we never want our customers to feel this. Once they feel this, they can start to form negative thoughts about your brand and or product.
Most people want to feel special, it’s human nature. One of the easiest ways to avoid post purchase cognitive dissonance with your customers is to make them feel there was more to their purchase than simply making another transaction. An easy way to personalize, and improve, your customer’s experience, is to simply thank them and give them some insight into your business post-purchase.
If you’re small enough, do this with a hand-written note inside their product. If you’re a service-based business with regular clients, give them a Christmas gift (it could be as little as a candy cane! or donation to a charity on their behalf). Another way is to follow up their purchase and reinforce that they just engaged in a high-quality purchase. For example – a major car dealership may oﬀer free or cheap regular servicing.
Audit Your Marketing
Whether running it yourself or outsourcing to a corporation! No matter who is in control of your marketing this is vital! One of our clients came to us this year and asked us to audit their AdWords, as they just didn’t feel their ROI was right. This client had a budget of over $10,000 a month on their AdWords marketing and one of Australia’s biggest digital marketing agencies were managing it for them (and charging a pretty penny to do so). When we conducted the audit, we found out that for three months straight 60% of their ads had been going to a ‘404 re-direct’ link! The marketing company had also been charging the client for ‘AdWords Management’! Google credited the wasted money but needless to say – audit your marketing even if it’s in the hands of so called ‘experts’!
You don’t have to be a large corporation to do mystery shopper audits. Have you ever seen undercover boss? If not go download it right now and see how much they learn from this approach! I am not saying put an ugly wig on and trick your employees. I am suggesting auditing every part of your business and doing so frequently. Order from your website under a diﬀerent name, make a complaint. See how it’s handled. Always remember if it’s dealt with the wrong way, it might be due to a lack of training on your behalf.
Love Your Customers
This one is very simple yet lots of businesses forget it. Your customer is the reason you’re in business, they pay your bills, they feed your kids, and they send you on holidays.
You can spend as much time and money on digital marketing as you like but at the end of the day, marketing is only a way to reach your customer and remember your customer is a human! So use your manners, thank each and every one of them, oﬀer free advice wherever you can, care about them, listen to them (they have some killer ideas sometimes!), just be nice.
Marketing Can’t be an Afterthought
The most successful clients we work with (millions in revenue) have one thing in common. They reinvest almost everything they earn back into their business. They understand that you do in fact need to spend money to make money. If you are serious about creating a strong marketing strategy, and getting the most out of it, you need to be willing to put in the time, eﬀort and funds. You need to understand that even the best strategies take time to show a ROI. That brand awareness needs to be a part of that strategy (which sucks because it is VERY hard to measure ROI on brand awareness). I once saw a quote that I feel is very relevant here:
“It takes thirteen hours to make a Toyota. It takes nine months to make a Rolls-Royce.”. – Anonymous.
Which one do you want your business to be?
Put aside a budget for your strategy, even if you must save for a while before you can implement it (it will be worth it in the long run!). Uber still haven’t broken even because their entire budget goes back into marketing, I don’t know about you, but I have the feeling that strategy might be working for them.