How Customer Acquisition Becomes Easier When You “Buy in to A Long Tail”
The task of locating and recruiting new customers is an essential activity for every business.
So, it stands to reason that you spend a great deal of your time attempting to attract the attention of viable prospects and make an initial sale.
Sometimes, however, there’s a tendency to concentrate so heavily on seeking new customers that we often overlook the ones we already have.
That’s why it’s so vitally important to make sure you divide your direct marketing dollars appropriately between the two activities.
Go for the long tail.
Go for the “long tail in direct marketing” with as much energy as you go for the initial sale. That is, go for developing strategies to build repeat business over the long haul with the same energy.
For example, by providing a greater variety of inventory (extending the long tail), businesses hope to reach more customers and generate more total sales. If you sell printers you have an inventory of paper, toner, color cartridges, service contracts, and so on.
You may not think your company does not have a tail, but take a closer look. Could you build in and offer a service or maintenance contract? Could you devise annual reviews or client updates? Could you create innovations in your products or services that encourage customers to repurchase more frequently? Longer life of cartridges? Toner?
Many businesses have tails they don’t even know they have. By looking closer at your existing customers, are there different ways they may consume use your product?
If you have weak or non-existent customer profiles in your company data, now is always a good time to start building them. Just make sure, you keep “going for the tail” as the end goal that brings in another revenue stream from existing customers.
No, you will not find a whale in a stream. But you may find a whale of a tale from a local fisherman!
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