No matter how specialized the industry, its marketing can be broken down into three essential marketing tactics: attraction, conversion and retention. Whether you deal in products or services, whether your company is a small retail boutique or a major manufacturer, these three marketing tactics will form the backbone of your business.
Attraction techniques let customers know you exist. These marketing measures educate potential customers on what you have to offer and what it takes to do business with you. Attraction techniques also focus on finding leads, potential customers who can be convinced to purchase your company’s products or services.
Attraction and lead generation can also be accomplished through:
- Advertising in media such as Internet, television, newspapers, magazines, and billboards
- Direct mail or email marketing
- Website and social media
- Marketing to a niche or pre-qualified list of leads provided by a list broker
- Cold calling and prospecting likely groups of potential customers
Leads generated through attraction marketing tactics are simply potential buyers; they don’t make the transition to actual paying customers without some additional persuasion. The marketing tactics designed to create actual customers are known as conversion techniques. They are designed to convert a lead into a customer, a “just looking” to “I’ll buy that.”
Conversion tactics provoke an action on the part of a customer. These actions can include returning a card for more information or calling a customer service representative for additional details.
Keep your conversion message relevant and consistent, and always include a call to action that urges leads to take the next step.
Once you have gained a customer, you must take steps to keep him or her satisfied and willing to purchase from you again. It costs must less to retain an existing customer than it does to find a new one, so it makes financial sense to invest in customer retention.
Keep your customers by focusing on customer service, such as:
- Resolving problems promptly and professionally
- Offering customer-only discounts or incentives
- Following up after the purchase with cards, calls or emails
- Staying in touch with a regular newsletter, physical mailings or emails
How can you apply these three important marketing tactics more effectively to improve your business success?
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