Ever Hear of The Term A/B Split?

Conducting A/B split testing makes your marketing smarter

Curious How Text Message Marketing Competes With Social Media Marketing? Run an A/B Split Campaign

To small businesses, this may be a new term for them. The A-B split is a method of testing the effectiveness of marketing methods or media. So, run a campaign specifically to your mobile database of customers on one day. Make a compelling offer that is available JUST for them and JUST for that day.

Follow that up with an offer the NEXT day and post that ONLY on social media. Again, make sure your offer is good for JUST that one day.

Now Compare The Results

mobile marketing analytics for boutique
Analytics in A/B testing for A Boutique. May 15 a text was sent about sales event. May 16 it was announced on social media. https://www.mobilehigh5.com

5 Ways To Get Customers Back (and Increase Profits!)

Post Summary:

• The difference between those companies which grow and those which don’t is whether they pay attention to their existing customers. The more customers you keep coming in the door, the more likely you will achieve your business goals.

• It costs 6-7 times what it costs to keep a customer than it does to find that new customer. So why are companies focusing so much on generating new customers?

• The biggest hurdle for most is where to begin. In this blog post, I will share 5 easy strategies that you can use to keep your existing customers happy and over the long term, this will increase your profits for much less investment.

The Success Rate of Selling To An Existing Customer is 60-70% vs only 5-20% For A New Customer.

MYTH: You have a GREAT product/service. Customers Will Stick With You.

Why do customers leave?

1% Die

3% Move

5% Gets a Friend to Provide Service

9% Are Persuaded to Go To A Competitor

14% Are Dissastisfied

68% Believe You Don’t Care About Them

68% Need Constant Convincing That You Care

A business the “gets this” and invests in customer retention does so because it is the biggest revenue driver they have, according to KPMG.

5 Reasons You Need To Care About This

  1. You will see more revenue. These customers already have bought from you, so unless you really screwed up, they will buy again. They already trust you and you already know something about them so you will find it easier to develop offers that compel them to action.
  2. Less Marketing Is Necessary. You’ll spend less time because you won’t have to ALSO find them and convince them to buy, so you’ll spend less on marketing. A new customer costs 16 times more to maintain than an existing one. If you have a restaurant, studies show it takes 4 visits by a customer before they become a regular.
  3. Get Feedback So you Can Improve Their Experience. All you have to do is ask for that feedback and your existing customers will likely provide it. They will feel honored to have been asked and you’ll gain valuable insight that you can use to improve your offering.
  4. Higher Profits. Selling new customers often requires price discounting. Selling to your existing customers is based on value. They will be more receptive got up-selling and cross selling because THEY ALREADY TRUST YOU. According to Gartner Group, 80% of your revenue comes from just 20% of your customers, so reward them and show them you care!
  5. Lower Costs. A small 5% increase in customer retention can increase a company’s profitability by 25-95% according to The Harvard Business School.
80% of Your Business Comes From Just 20% Of Your Customers, so Thank Them!

Fastest Way To Retain Customers Is Through Loyalty Programs

The easiest way to build a database today and to know you’ll be reaching customers directly is to go MOBILE. Customers only have one phone yet have multiple emails. Relying on email marketing or just social media is based on a strategy of HOPE.

With Mobile marketing, you are reaching your customers right where their attention already is, on their personal phone. A whopping 98% of your messages are read within 5 minutes. Include an incentive and those customers come back in more often. Add a loyalty program that rewards customers for coming back and it acts as a multiplier.

Mobile Loyalty Program In Action

Mobile marketing is permission based, so only those who have given their number willingly will join your program. You will find those are your best customers. They are the folks who want to engage with your business. Regularly. And isn’t that the best customer to have?

Interested in learning more about how a loyalty program might work for your business? Contact me for a no obligation 1-to-1 tutorial.

What Exactly Is Text Message Marketing and Why Is It So Important?

What’s all this buzz about text message marketing or SMS advertising about anyway? Why should you be thinking about moving in this direction?

Most small businesses have been relying on a combination of social media and email marketing. Think about it. How many unread emails do you have right this minute? Me? I have 345, split across the three emails I own.

Now…how many unread text messages do you have? None to maybe a few.

That is typical of most people. The reality today is that email readership is dropping. Social media is waning. What is happening is we are all migrating to communication methods like messaging, snapchat, texting and the like because — it’s easier. Phones have become stitched to our sides; they are our primary way of navigating our lives. We check our smart phones repeatedly throughout the day.

Isn’t this where your advertising should be? Reply in the comments what your main concern is with communicating with your customers this way. Have you tried text message marketing?