Are you creating marketing assets or expenses?

friday, 10 august of 2012

Are you creating marketing assets or expenses?

by Tom Trush

~~ FAST FACTS ~~

>> Your most valuable marketing asset is your database of contact information for prospects and current/previous clients.

>> Every marketing piece you use should generate more in return than what it cost to produce and distribute.

>> You should make money with your marketing -- not just spend it.

~~

Last Saturday night, I was on the receiving end of a marketing tactic that I couldn't help but applaud.

My good friend Phil -- who I hadn't seen in several months -- and I decided to catch up while bar hopping around downtown Phoenix. Our final stop was at a restaurant and wine bar called Portland's.

As we sat at the bar, I couldn't help but glance at the menu. I had dinner a couple hours earlier, so I wasn't too hungry.

But the lure of a Sicilian-style sausage and roasted poblano pepper pizza proved too tempting to pass up.

My decision to place an order was rewarded the instant I took the first bite -- the pizza was outstanding. So good, in fact, I'd already started planning my next trip to Portland's.

But the marketing gods beat me to the punch ..

They must have sensed my excitement because, when I received the check, there was a place to include my e-mail address so I could get future discounts and updates.

Whoa ... imagine that!

I'm amazed at how few restaurants (and businesses in general) use this marketing tactic. Now Portland's has an inexpensive way to stay in contact and encourage me to spend money with them.

Think about it ..

Their list is a marketing asset -- the value increases as names get added. Of course, this assumes people on the list receive frequent communication and beneficial information.

You won't find a more valuable marketing asset than your database of contact information for prospects and current/previous clients.

Since these people know you, they're most likely to buy or refer your product/service. So wouldn't you agree growing (and, of course, communicating with) your database should be a priority in your marketing efforts?

This is one reason why I often stress the importance of offering valuable information on your website in exchange for e-mail addresses.

And speaking of marketing assets ...

Every marketing piece you use should generate more in return than what it cost to produce and distribute. So if you have a website ... sales letter ... e-mail campaign ... brochure ... mailer .. whatever ... and it does not bring you prospects and generate sales, then re-examine its use.

Can you improve the marketing message? Are you putting the piece in front of the wrong audience? Could you make a stronger offer?

The bottom line is you should make money with your marketing -- not just spend it.

---

© Trey Ryder

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