Your Greatest Business Asset besides You

With so many businesses struggling during this time, the marketing Holy Grail is your email list. We have been told that if you have a big list you have tremendous marketing leverage.

Is this true? Most likely yes, as we have been locked down and seen businesses changing.

If I look at my e-mail list, which I have added to over the too many years to count, I see a lot of changes.  People opt out without any need to explain, some emails just get kicked back because they no longer exist.  Some of the people I know, some I have met, but how personal of a relationship do I have with all of you out there?

Michelle Bergquist in a book she wrote several years ago, The Million Dollar Database, suggests that it is not just a matter of “who” you know, but rather how well you know them. The size and quality of your list is the most important factor in determining the end result of any business building program. After all, the best marketing campaign in the world will not generate results if it goes out to a small number of poorly qualified leads! So, how you build your list is crucial to the success of your business.

There are specific things you can do to market yourself in a down economy? Yes there are. Let me share a few with you.

Make it easy on your site for visitors to have plenty of clear opportunities to subscribe by offering value. You could have exclusive web offers, advanced notices, or helpful tips. Visitors need to see the value of signing up to your newsletter or offer if they’re going to give you their information.

In the absence of face to face business right now, relationship building requires that your database system outreach helps build loyalty and longevity.  In this case you are not just scanning a business card, but also gathering significant intelligence that will lead to priceless opportunities.  The marketing campaign might include the same outreach as the on-line list but goes beyond “technology”.  It requires a more personal connection that translates into repeat business and opportunity.

There are some key factors to consider in developing a strategy –

Have an actual marketing plan. That is, a plan to carry out specific marketing activities.

  1. Get to know the people, so it is not just a numbers game by creating value with what you share.
  2. Create a system for recording what you know about all the people on your list.
  3. Target your efforts to connect with the right people for opportunities, leads, new business, referrals and sales.
  4. Create your marketing around how you will follow up – 40% of business is left on the table because professionals do not stay in communication with new accounts, past customers, and advocates.

The Challenge: Get those business cards off your desk and into an organized system so your marketing targets each category of prospects differently.