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26th February 2009

The Need for Advertising and Marketing.

Hello Sir/Madam,

I had to do a presentation to the Ecomist Franchise Annual Meeting last week and one of the topics I wanted to cover was the importance of marketing and advertising during an economic downturn.

A few hours on the internet brought up some fascinating articles and there is one I wanted to share with you to stiffen the resolve on your marketing plans and as the great Admiral Farragut said "Damn the torpedoes, full steam ahead".

Here is an extract from the article.

"To state a generality, those companies who not only survived but did
well and grew during the Great Depression are those who continued to
act as though there were nothing wrong and that the public had money
to spend. 

In other words, they advertised.  These are industries who
didn't wait for public demand for their products to rise, they created
that demand even during the most difficult of times.  Because so many
companies cut spending during that era, advertising budgets were
largely eliminated in many industries.  Not only did spending decline,
these companies actually dropped out of public sight because of short
sighted decisions made about spending money to keep a high profile.
These advertising cutbacks caused many customers to feel abandoned and
associated the effected brands with a lack of staying power.  This not
only drove customers to more aggressive competitors but caused a
certain amounts of financial mistrust when it came to making additional
investments in the no longer visible companies.”

To read the full article check it out here.

Prospect Marketing News

Big news, we are ready to compile the new Australia Residential List. This is the first new Residential list in Australia for 6 years!

It will have 1,000,000 records with 98% connectability. The release date is anticipated to be 1st April 2009 at a cost of $1995 (less than $2 per 1000 records!). The pre-release price will be $995 and with a maximum of 20 units available at that price.

Call now and register your interest or Contact Us.  


 

19th February 2009

 

Not just Fax and Email Broadcasting!

Hello Sir/Madam,

We all agree that customer retention is a good idea but it can all look a bit daunting and expensive. So if you could easily classify your prospects and assign your marketing and advertising dollars accordingly that would make sense, wouldn't it? 

But how…?

Here is a formula that is used by numerous sales firms around the world based on 3 simple criteria.

How recently, how often and how much?

Recency
Assign a value based on the last 24 months, e.g. 1 month ago = 25 points, 24 months ago = 1 point.

Frequency
Assign 1 point for each sale in the last 24 months

Monetary
Assign a point system for the value of the sales in the last 24 months say 3 for high 2 for medium and 1 for low (based on your average sales volume).

Also note here that this is “dynamic” in that your list ages every month which accurately reflects the real life value of your prospect list.

Customer Profile

Excellent customer profile.

Last purchase 3 months ago = 23 points.
8 purchases in the last 2 years = 8 points.
Sales Volume = High = 3 points.

Customer value: 23 x 8 x 3 = 552

Low value customer profile.

Last purchase 18 months ago = 6 points
2 purchases in the last 24 months = 2 points
Sales Volume low = 1 point

Customer value: 6 x 2 x 1 = 12

Separate your list into Gold, Silver and Bronze and allocate your marketing and service budget; 50% Gold, 30% Silver and 20% Bronze.

You can of course adjust your profile system to better suit your industry but the above would be a good start.

For the full data on this subject check out www.dbmanagement.com.

Prospect Marketing News

Get you Fax Broadcasting setup to go, this is the time of the year when you need an effective way to market and advertise your products. Use our extensive fax database to help you promote you products, for more details on our faxing service please visit www.prospects.com.au.

We also supply data so if you are looking to increase your database then take a look at our page that gives advice on avoiding the pitfalls of Buying Data.

We are offering a FREE MARKETING CONSULTATION.  If you like to speak to our Marketing expert, Tanya Knowles, she can advise you on how best to move your advertising and marketing forward.

Good Selling.


 

Brendan Warren
Sales Manager


 

 

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