Some Marketing Factoids For You To Consider

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6th July 2010
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30th July 2010
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Some Marketing Factoids For You To Consider

With so much written about marketing I thought I would put just a few simple factoids together to share some thoughts, interesting statistics and a maybe few pointers to help you on your way to generating more leads for your business. For me marketing has changed so much over the past 5-10 years. I believe it really is more about being found by your prospects than finding prospects these days….So here are a dozen factoids for you..

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Customer experiences and referrals

  • On average a good customer experience is told to 8 other people
  • On average a bad customer experience is told to 22 other people
  • It takes about 10 good experiences to make up for one bad one
  • 70% buying experiences are based on how the customer feels they are being treated

Customer retention and churn facts

  • An average company loses between 10 and 30% of its customers each year
  • A 5% reduction in the customer defection rate can increase profits by 25% to 80%
  • Satisfying and retaining current customers is 3 to 10 times cheaper than acquiring new customers

They don’t always know why they bought!

  • Most purchasing decisions are made in the subconscious mind.
  • In fact nearly all our daily decisions are subconsciously driven.
  • So it comes as no surprise that our customers won’t always be able to tell you why they bought.

Repetition is the secret to accessing the subconscious mind of people.

  • The most important rule in marketing is repetition.
  • Too many marketing programs give up too soon.
  • On average, it takes about 5-7 touches before you will see results in your marketing program.
  • See my previous blog “how many touch’s” for more information on this

You can be twice as effective by targeting both sides of the brain with your marketing.

  • Your marketing can be twice as effective if you aim it at both right-brained (emotional, aesthetic) and left-brained (logical, sequential) people.
  • The population is evenly split, so make sure your advertising appeals to both sides.

The quality of your prospect data is the key to successful marketing

  • The more data you have, and the more you know about your customers, the better your marketing will be.
  • This data is available from many published sources, or (as I recommend) you can collect your own by asking your customers lots of questions.
  • Your customers already bought from you – Who better to ask for ideas to attract more customers.

Everyone in the family is influential in the buying decisions.

  • Children are influencing family purchases more today than ever.
  • These are the results of more mothers working and children’s greater access to media.
  • The buying power of the younger generation has increased too.

TRUST is first in any sale, without it no sale can take place. Bonding…

  • There are two bonds to make a sale – the human bond and the business bond.
  • People would much rather do business with a friend than with anyone else. So become their friend.
  • Your level of success is directly related to the people who know and like you

They are not just numbers.

  • People are human beings and like to be treated as such.
  • Don’t treat people as prospects or as demographic groups.
  • Take time to document and describe your ideal prospects it will help humanise the logical and cold process of marketing.

Joining the club.

  • People have a basic need to belong. Let them belong to your club.
  • Recognize the 20% of your customers that give you 80% of your business.
  • People who join your metaphoric ‘club’ are a level above a normal customer too.
  • Find ways to confirm they are now part of the gang or club
  • Have pride in your business and create a club-like atmosphere and culture

They are buying more than you think

  • Your customers will be buying a lot more than merely your product or service.
  • They are buying into
    • your personality.
    • your reputation.
    • your service.
    • your status in the community.

Don’t lose your message

  • People will remember the most fascinating part of your marketing and not necessarily your product or service. That is why you need to be very careful every step of the way.
  • We can all remember clever and funny adverts on television but we don’t always remember the product.
  • Make sure the message is received loud and clear
    • Call now
    • Buy it today
    • Who, what and where you are
    • Reiterate the product or service as often as is needed to get the message across

Follow these simple marketing tips and factoids and I am confident you will generate more leads and convert more prospects.

Your feedback is always welcome..

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