Brick and Mortar Businesses Need Small Business Email Marketing

There’s a pretty persistent myth among some people that the tactics and strategies you use in making money online are only good for making money online- that for instance you can’t use small business email marketing for a restaurant.

Obviously most large businesses and corporations have learned all about making money online and employ internet marketing strategies and direct email marketing, but most small brick and mortar businesses just haven’t caught on to the immense power that they can tap into by better leveraging these techniques for successful small business email marketing campaigns.

Essentially, the same rules apply for online businesses as brick and mortar businesses. The more customers you have, the more money you make. You get customers by converting prospects. A prospect is someone who is interested in what you offer, and a customer is a prospect who ends up buying from you. This is true whether you’re selling e-books or steak dinners.

Unfortunately, brick and mortar businesses aren’t always good at connecting with all of their customers. A lot of times they don’t even keep any official track of who buys from them. Sometimes they do keep a list and use it to send out mailers and flyers when they want to attract repeat business, but when they don’t have a list they have to count on their customers seeing more general advertisements about deals and sales and promotions.

Online marketers are generally very good at keeping an email marketing list that they easily contact with a few clicks. The thing is- brick and mortar businesses can learn a thing or two from them and be very successful with a good email marketing campaign.

If you have a brick and mortar business, all you have to do is collect the e-mail addresses of people who come into your store or restaurant. This will be your email marketing list, and the base of your small business email marketing campaign.

At the very least, you can send a message out to this list whenever you have a promotion or something special going on with your business. You can take your direct email marketing even further though and regularly send out email messages to your customers, and not just leverage the list when you are selling something.

Using this strategy you can build a lot of affection, trust and loyalty between you and your customers. Keeping them in the loop and talking to them once every week or two through your email marketing campaign will make them feel a real personal relationship with you and your business, and that will make your more sale-oriented messages that much more powerful, effective, and profitable.

Direct Marketing – Work in These Four Areas to Lift Profitability

Direct marketing is based on data about individual customer responses and transactions which are used to target, execute and control marketing actions meant to start and develop profitable customer relationship in the short-term as well as the long-term. The strength of direct marketing is that its profitability is easy to measure compared to mass consumer approach to marketing. Since this is so, it’s necessary to pay attention to the factors that impact that bottom line result.

Here we’ll look at four of those factors that affect the profitability of direct marketing operations.

1. Objective. The objective of the project must be clearly stated in SMART (Specific, Measurable, Achievable, Realistic) terms. Common areas for objectives include customer acquisition, customer retention and winning back old customers. Customer acquisition is more costly than the others.

2. Life Time Value of the Customer. This is a calculation of what a customer in a category will contribute to profit and overheads during their “lifetime”, that is, while they remain a customer. This measure is affected by customer retention rate and inflation. It’s used for deciding how much to spend on a customer and to assess the best sources of customers. If you increase retention rate, then LTV will increase assuming price does not fall, which is unlikely. If for any reason inflation rate drops, then LTV will increase also, all things being equal.

3. Return on Investment. There are several ways of computing this statistic. The simplest method is the sales value method, in which you divide the sales value by the marketing cost. This measure is useful because it focuses on two main drivers of the amount of profit. There are three ways to increase ROI. One is to raise sales value and keep marketing cost the same. Two, bring down marketing cost and maintain sales value. Three, increase sales value proportionally more than marketing cost.

4. Allowable Marketing Cost. This measure is meant to inject discipline into the cost of marketing. It sets the upper limit to what you can spend to acquire new customers. Going above it, and I guarantee you will not be loved, because it means erosion of the desired profit unless, of course, product cost and distribution cost some how fall. It’s arrived at by netting out cost of goods, distribution cost and desired profit from sales value (All per unit).

Having set the objective in the area of interest, the profitability of a direct marketing campaign depends on the key efficiency measures of life time value of customer, return on investment and marketing cost management. These concepts are also useful even if you are doing business online.

Social Media Marketing – Do What You Are Good at, Outsource the Rest

The decision to outsource your social media will come because of one of two main reasons, there are lots but here are what I believe to be the two Main reasons. You do not have enough knowledge to do it properly yourself or you know what you are doing but do not have enough time. Does either of those describe you?

When you concentrate on what you do best in your business which is most likely the part that actually makes the money then you are focusing on the important part. You are in business to make money right? You are MUCH more effective, can get more done in less time when you are working on the part of your business that you are really good at.

You will become much more comfortable with the idea of outsourcing your Social Media Marketing when you put procedures and processes in place. When you sit down and think of the process from start to finish, what do YOU want? What does it look like? How can you tell along the way when you are getting value? I am sure these questions and many more have come to mind when you think about outsourcing. However there is just not enough time in the day to get everything done!! You know you need help. You need to concentrate on what YOU are good at and have someone else do the rest.

To put your mind at ease, to confirm to yourself that you are getting your money’s worth here are 3 things you can do up front to help…

1) take the time to find someone who knows what they are doing, if you go out and pick the first person you see you could very likely be setting both them and you up for failure. They may never be able to meet your expectations. Take the time to find someone who is a good fit for you. There will be a lot less headaches and hassle on the back end by putting in this time and effort up front.

2) Provide very specific directions, the very first time I hired a virtual assistant this is where I could have done a better job. Your directions must be in writing, who ever remembers all the details of a conversation without written notes. It is in your best interest to write out your specific directions before having the conversation. That way when you do speak you are both looking at the same thing and any misunderstandings can be cleared up right away.

3) Have a picture in your mind about what a good job looks like. Do this work up front, that way you will be able to describe what you want done to someone more effectively.

BONUS TIP Be sure to have dead lines for your projects that also have consequences if things are not completed in a timely manner.

And now, I would like to invite you to get your Free Instant Access to 30 Social Media Marketing Tips & Techniques to build your home business using Facebook, Twitter, Linkedin and YouTube.