Marketing – the action or business of promoting and selling products or services, including market research and advertising.
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Marketing includes research, targeting, communications (advertising and direct mail) and often public relations. Marketing is to sales as plowing is to planting for a farmer—it prepares an audience to receive a direct sales pitch. Mary Ellen Bianco – Director Marketing & Communications, Getzler Henrich & Associates LLC
Okay, these are just three definitions of marketing I found while perusing the web. I even stumbled upon one website that consisted of 72 different definitions of marketing. In case you are curious, that site is: https://heidicohen.com/marketing-definition/. Regardless of these different interpretations and definitions there is one thing that truly matters when it comes to marketing……
MARKETING = REPEAT BUSINESS
It doesn’t take a “Mad Man” to realize the essential benefits marketing plays on driving sales and encouraging repeat business. There are many statistics available in the digital age that can be used to back up this fact. In regards to digital and mobile media marketing, hubspot.com lists a few interesting statistics regarding the new-age consumer and their millennialish habits.
- Google drives 96% of mobile search traffic. (Jody Nimetz Co., 2018)
- More than 46% of Americans will check their smartphone before getting out of bed. (Tech Times, 2017)
- About 3.03 billion people are on social media around the globe. (BrizFeel, 2018)
- Branded content on social media is twice as likely to interest people between the ages of 55 and 64 than those who are 28 and younger. (BrizFeel, 2018) (Source: https://www.hubspot.com/marketing-statistics)
Knowing the benefits and statistics behind digital marketing brings us to the next question. How do we generate repeat business using simple marketing strategies in today’s competitive sales climate? Earning just one sale can often prove difficult, so retention of each client is essential in increasing sales and driving profits. Constant Inc. Lists these reasons why repeat customers are beneficial to your company:
- Repeat Customers Spend More Money
- Repeat Customers are Easier to Sell to
- New Customers Cost More
- Repeat Customers Promote your Business
- Businesses are Built on Customer Retention
- Investing in Repeat Business Costs you Less and Makes you More
Being aware of these statistics may prove beneficial when requesting additional funds for your marketing department. Setting specific goals such as a specified increase in sales percentage or customer retention and documenting these statistics once met, can be used to justify fund expenditure in the future. Regardless of your companies motives behind your marketing strategies, using the simple steps below may help your business become more fruitful and increase your bottom line.
- Start a loyalty program
- Give your customers follow-up calls (always collect contact info.)
- Make messages to clients personal (avoid voicemail messages and/or emails when possible)
- Offer freebies
- Give out future-use coupons
- Let customers know what you are doing for them (keep them informed)